Marshall Smith: Not sure how I feel about this... The government typically just screws things up and makes them suck....
The proposed B
Not sure how I feel about this... The government typically just screws things up and makes them suck....
The proposed BITCOIN Act of 2025 (S. 954), introduced by Senator Cynthia Lummis with companion legislation led by Representative Nick Begich, aims to establish a formal Strategic Bitcoin Reserve within the U.S. Treasury Department.
Congress.gov
The core details of the legislation include:
Core Purchase Mandate
1 Million Bitcoins: The bill directs the U.S. Treasury to acquire 1 million BTC.
5-Year Timeline: The government would purchase up to 200,000 BTC per year over five years.
Supply Share: The completed purchase program represents roughly 5% of the total fixed supply of Bitcoin, mimicking the relative scale of U.S. gold reserves.
House.gov
Holding and Storage Restrictions
20-Year Lockup: All Bitcoin acquired under the program must be held in trust for a minimum holding period of 20 years.
Debt Payoff Only: The only allowable reason to sell the Bitcoin prior to or at the end of this period is to retire outstanding federal debt.
Controlled Liquidations: After 20 years, no more than 10% of the assets may be sold during any two-year window.
Decentralized Storage: The Treasury must set up a decentralized network of secure physical vaults distributed across the U.S. using advanced physical and cybersecurity protocols.
U.S. Senate (.gov)
+3
Funding Mechanism ("Budget-Neutral")
To ensure no new taxpayer burden, the purchases would be financed by diversifying existing resources within the Federal Reserve and Treasury:
House.gov
Gold Certificate Revaluation: Revaluing the gold certificates held by the 12 Federal Reserve banks to cash out the net difference.
Fed Remittances: Directing a portion of the Federal Reserve's net earnings and discretionary surplus funds directly to the program.
Asset Consolidation: Transferring all existing and future Bitcoin acquired through criminal and civil asset forfeitures into the reserve to offset the purchase quotas.
Congress.gov
Additional Provisions
State Participation: Individual U.S. states can voluntarily store their own Bitcoin holdings in segregated accounts within the secure federal reserve.
Self-Custody Safeguards: The legislation explicitly affirms the self-custody rights of private citizens, guaranteeing that the creation of a national reserve will not infringe upon individual financial freedoms.
Congress.gov
Marshall Smith: Not sure how I feel about this... The government typically just screws things up and makes them suck.... The proposed BI
Not sure how I feel about this... The government typically just screws things up and makes them suck.... The proposed BITCOIN Act of 2025 (S. 954), introduced by Senator Cynthia Lummis with companion legislation led by Representative Nick Begich, aims to establish a formal Strategic Bitcoin Reserve within the U.S. Treasury Department. Congress.gov The core details of the legislation include: Core Purchase Mandate 1 Million Bitcoins: The bill directs the U.S. Treasury to acquire 1 million BTC. 5-Year Timeline: The government would purchase up to 200,000 BTC per year over five years. Supply Share: The completed purchase program represents roughly 5% of the total fixed supply of Bitcoin, mimicking the relative scale of U.S. gold reserves. House.gov Holding and Storage Restrictions 20-Year Lockup: All Bitcoin acquired under the program must be held in trust for a minimum holding period of 20 years. Debt Payoff Only: The only allowable reason to sell the Bitcoin prior to or at the end of this period is to retire outstanding federal debt. Controlled Liquidations: After 20 years, no more than 10% of the assets may be sold during any two-year window. Decentralized Storage: The Treasury must set up a decentralized network of secure physical vaults distributed across the U.S. using advanced physical and cybersecurity protocols. U.S. Senate (.gov) +3 Funding Mechanism ("Budget-Neutral") To ensure no new taxpayer burden, the purchases would be financed by diversifying existing resources within the Federal Reserve and Treasury: House.gov Gold Certificate Revaluation: Revaluing the gold certificates held by the 12 Federal Reserve banks to cash out the net difference. Fed Remittances: Directing a portion of the Federal Reserve's net earnings and discretionary surplus funds directly to the program. Asset Consolidation: Transferring all existing and future Bitcoin acquired through criminal and civil asset forfeitures into the reserve to offset the purchase quotas. Congress.gov Additional Provisions State Participation: Individual U.S. states can voluntarily store their own Bitcoin holdings in segregated accounts within the secure federal reserve. Self-Custody Safeguards: The legislation explicitly affirms the self-custody rights of private citizens, guaranteeing that the creation of a national reserve will not infringe upon individual financial freedoms. Congress.gov
