US President Donald Trump signed the executive order establishing the US Strategic Bitcoin Reserve earlier this month.
While it was announced that there will be no new BTC purchases for now, that the USA will keep the BTCs in its possession, it was stated that ways to purchase new BTCs will be investigated.
As uncertainties surrounding the Bitcoin reserve continue, US congressman Byron Donalds will introduce a bill to enact an executive order signed by Trump 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. The bill’s passage will ensure that the reserve and stockpile cannot be eliminated by executive order of subsequent presidents.
The bill needs 60 votes in the Senate and a majority in the House of Representatives to become law.
The executive order signed by Trump calls for the creation of a Bitcoin reserve within the Treasury Department for the approximately 200,000 Bitcoins held by the U.S. government.
The executive order also authorizes the Treasury and Commerce Departments to develop budget strategies to purchase more Bitcoin for the reserve without imposing additional costs on taxpayers and prohibits the sale of any Bitcoin in the reserve.
*This is not investment advice.
