US Establishment of Strategic Bitcoin Reserve

US President Donald Trump signed an executive order to establish the US Strategic Bitcoin Reserve earlier this month.

While it was announced that there will be no new BTC purchases for now, the USA will keep the existing BTCs in its possession. However, the government will investigate ways to purchase new BTCs.

As uncertainties surrounding the Bitcoin reserve continue, US congressman Byron Donalds will introduce a bill to enact Trump’s executive order establishing a strategic Bitcoin reserve and a US digital asset stockpile.

According to Bloomberg, Byron Donalds will introduce a bill today that will secure the national BTC reserve. If passed, the bill will ensure that the reserve and stockpile cannot be eliminated by future executive orders.

The bill requires 60 votes in the Senate and a majority in the House of Representatives to become law.

The executive order signed by Trump mandates the creation of a Bitcoin reserve within the Treasury Department for the approximately 200,000 Bitcoins held by the U.S. government.

Additionally, the order authorizes the Treasury and Commerce Departments to develop budget strategies to purchase more Bitcoin for the reserve without imposing additional costs on taxpayers, and it prohibits the sale of any Bitcoin in the reserve.

> Note: This is not investment advice.