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United States Congressman Byron Donalds will introduce a bill on Friday to implement President Donald Trump’s executive order to create a strategic Bitcoin (BTC) reserve and a national crypto stockpile. To pass, the bill needs majority support in the House of Representatives and at least 60 votes in the U.S. Senate.
Under the Trump administration, support for cryptocurrency and blockchain technology has gained bipartisan approval. This shift makes it likely that Donalds’ bill will pass with strong backing.
“For years, the Democrats waged war on crypto. Now is the time for Congressional Republicans to decisively end this war,” Donalds noted.
Protecting Bitcoin from Future Policy Reversals
Democrats and Republicans have been divided on digital assets in recent years. Donalds’ bill aims to ensure the strategic Bitcoin reserve and crypto stockpile cannot be dismantled by future presidents through executive action.
Trump’s executive order also allows the Treasury Department to find ways to expand Bitcoin holdings without adding to taxpayer burdens. Currently, the U.S. government holds around 200K BTC seized from criminal activities and plans to grow this reserve using budget-neutral strategies.
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How the U.S. Could Increase Bitcoin Holdings
Experts suggest several ways the U.S. government could acquire more Bitcoin:
- Issuing Bitcoin-backed bonds to fund additional BTC purchases.
- Allowing citizens to pay taxes using Bitcoin and other approved cryptocurrencies.
U.S. Senator Cynthia Lummis has proposed that the government buy at least 200,000 BTC annually, aiming to accumulate 1 million BTC in five years. This move could reduce Bitcoin’s supply, increasing demand and potentially driving prices higher across the crypto market.
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FAQs
The government may use budget-neutral strategies like Bitcoin-backed bonds or seized BTC from criminal activities to grow its crypto holdings.
