The Strategic Bitcoin Reserve Plan to Acquire 1 Million BTC
During the Digital Asset Summit, Congressman and Vice Chairman of the Digital Assets Subcommittee, Tom Emmer, discussed the strategic Bitcoin reserve plan to acquire 1 million BTC before the end of this Congress.
State-Level Bitcoin Reserves Legislation
Emmer acknowledged the existence of multiple bills proposing state-level Bitcoin reserves. Currently, 23 US states have legislation in place for Bitcoin reserves.
“So, yes, there is legislation. And I believe that before this Congress is done, that will be enacted.”
1M BTC in 5 Years
Emmer referenced the recently reintroduced BITCOIN Act, authored by Senator Cynthia Lummis and cosponsored by five Republican Senators. This legislation allows the US government to acquire up to 1 million BTC over five years, funded by the Federal Reserve’s net earnings and adjustments to Treasury certificates based on the Fed’s gold holdings.
The acquired BTC will be held for at least 20 years, managed by the Treasury Department. The bill includes provisions for divesting, with restrictions on reducing more than 10% of the reserve within a two-year timeframe.
President Trump’s Bitcoin Reserve Plans
President Donald Trump’s executive order, signed on March 7, focuses on maintaining Bitcoin seized by US authorities as a long-term store of value. This order is separate from legislative efforts and does not specify timeframes for acquiring or holding BTC. Currently, estimates suggest that the US holds nearly 200,000 BTC.
Furthermore, the executive order mandates that any Bitcoin purchase should occur through budget-neutral strategies devised by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
