Newly introduced GOP Bill seeks to write Trump’s strategic Bitcoin reserve into law
The post Newly introduced GOP Bill seeks to write Trump’s strategic Bitcoin reserve into law appeared on BitcoinEthereumNews.com. A new House bill introduced Friday would lock in President Trump’s unprecedented executive order establishing a Strategic Bitcoin Reserve, signaling the GOP’s deepening embrace of digital assets as fiscal and geopolitical leverage tools. The bill, H.R. 3798, sponsored by Rep. Tim Burchett (R-TN), aims to codify Executive Order 14233, signed by Trump. Bitcoin reserve law (Source: Congress.gov) The order halted federal Bitcoin auctions and directed agencies to consolidate BTC holdings under Treasury’s management. If enacted, the legislation would ensure the long-term existence of a U.S. Bitcoin reserve and a Digital Asset Stockpile for seized altcoins, shielding the program from future repeal. “It’s time we treated Bitcoin like the strategic asset it is,” Burchett said in a statement. From forfeiture to fortress Over the past decade, the U.S. government has accumulated 198,000 BTC, currently valued at over $21.32 billion, through forfeitures linked to criminal enforcement actions. In the past, much of that Bitcoin was auctioned off, including large sales in 2014–2021 at fractions of today’s prices. Those early auctions forfeited over $21 billion in upside gains. EO 14233 and now Burchett’s bill aim to stop the bleeding by treating the digital currency as a long-term strategic hedge rather than liquidating it for short-term cash. “This is our digital Fort Knox,” Treasury Secretary Vivek Ramaswamy said at the March rollout, promising “budget-neutral and innovation-positive” implementation. Under the bill, no taxpayer dollars would be spent to acquire more Bitcoin. Instead, BTC must come from future enforcement seizures, asset swaps, or market-neutral transfers. Altcoins acquired in similar ways would be held in a separate “Digital Asset Stockpile,” which the Treasury could sell at its discretion. The legislation mandates inter-agency BTC transfers to Treasury custody and bars any sales without presidential waiver, effectively nationalizing the U.S. government’s Bitcoin position unless reversed by future legislation. A…
The post Newly introduced GOP Bill seeks to write Trump’s strategic Bitcoin reserve into law appeared on BitcoinEthereumNews.com.
A new House bill introduced Friday would lock in President Trump’s unprecedented executive order establishing a Strategic Bitcoin Reserve, signaling the GOP’s deepening embrace of digital assets as fiscal and geopolitical leverage tools. The bill, H.R. 3798, sponsored by Rep. Tim Burchett (R-TN), aims to codify Executive Order 14233, signed by Trump. Bitcoin reserve law (Source: Congress.gov) The order halted federal Bitcoin auctions and directed agencies to consolidate BTC holdings under Treasury’s management. If enacted, the legislation would ensure the long-term existence of a U.S. Bitcoin reserve and a Digital Asset Stockpile for seized altcoins, shielding the program from future repeal. “It’s time we treated Bitcoin like the strategic asset it is,” Burchett said in a statement. From forfeiture to fortress Over the past decade, the U.S. government has accumulated 198,000 BTC, currently valued at over $21.32 billion, through forfeitures linked to criminal enforcement actions. In the past, much of that Bitcoin was auctioned off, including large sales in 2014–2021 at fractions of today’s prices. Those early auctions forfeited over $21 billion in upside gains. EO 14233 and now Burchett’s bill aim to stop the bleeding by treating the digital currency as a long-term strategic hedge rather than liquidating it for short-term cash. “This is our digital Fort Knox,” Treasury Secretary Vivek Ramaswamy said at the March rollout, promising “budget-neutral and innovation-positive” implementation. Under the bill, no taxpayer dollars would be spent to acquire more Bitcoin. Instead, BTC must come from future enforcement seizures, asset swaps, or market-neutral transfers. Altcoins acquired in similar ways would be held in a separate “Digital Asset Stockpile,” which the Treasury could sell at its discretion. The legislation mandates inter-agency BTC transfers to Treasury custody and bars any sales without presidential waiver, effectively nationalizing the U.S. government’s Bitcoin position unless reversed by future legislation. A…
What's Your Reaction?
