Key Takeaways
- Congressman Tom Emmer expects a 1 million BTC reserve to be approved.
- The BITCOIN Act proposes acquiring 1M BTC over five years, held for 20 years.
- Trump's executive order focuses on holding seized Bitcoin long-term.
Speaking at the event, Emmer acknowledged growing support for Bitcoin reserves at the state level, with 23 U.S. states introducing legislation on the matter.
He also noted the Digital Assets Subcommittee’s interest in stablecoins, calling them an “enhanced form of currency” that improves access to the U.S. dollar.
The BITCOIN Act
The proposed reserve is outlined in the BITCOIN Act, introduced by Senator Cynthia Lummis and backed by five Republican senators.
The bill authorizes the federal government to acquire up to 1 million BTC over five years, funded by Federal Reserve net earnings and adjustments to Treasury certificates based on gold holdings.
The Bitcoin would be held for at least 20 years, with limits on divestment.
Executive order on seized Bitcoin
Separately, President Donald Trump signed an executive order on March 7 directing authorities to maintain seized Bitcoin as a long-term store of value.
While Trump’s directive does not specify an acquisition timeline, estimates indicate the U.S. government currently holds about 200,000 BTC.
The executive order also requires budget-neutral purchasing strategies, led by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
