Sponsors (10)
The bill protects individual crypto ownership and creates a federally managed Strategic Bitcoin Reserve with transparency and custody rules—potentially legitimizing and diversifying public assets—but it shifts significant market, security, operational, and legal risks (and costs) onto taxpayers, may complicate law‑enforcement forfeiture and market functioning, and creates implementation and federal–state liability trade‑offs.
People who hold Bitcoin (retail holders, small businesses, and institutions) keep explicit legal protection against federal seizure and retain the right to self-custody private keys, preserving ownership rights and financial privacy.
Taxpayers and financial markets gain a federally authorized Strategic Bitcoin Reserve (via the ESF and Treasury purchases), which legitimizes crypto markets, could diversify public assets, and—if well-timed—potentially increase public asset value or help reduce debt over the long term.
All Americans benefit from centralized custody standards, mandated cold‑storage, independent cryptographic attestations, GAO oversight, and required reporting, which increase transparency, accountability, and reduce risk of ad‑hoc mismanagement of government crypto holdings.
Taxpayers (and therefore the federal budget) are exposed to major price volatility and market risk because the Treasury/ESF purchases and holds potentially large Bitcoin positions, which could generate substantial losses that affect deficits or require budget trade-offs.
Centralizing substantial Bitcoin holdings creates concentrated custody and cybersecurity risk—a high‑value single target that, if compromised, could produce large financial losses and national‑security implications for taxpayers and markets.
Government purchases/holdings and long lockup periods risk distorting Bitcoin markets, moving prices despite safeguards, reducing liquidity, and potentially increasing volatility or trading costs for private investors.
Based on analysis of 11 sections of legislative text.
Directs Treasury to create a Strategic Bitcoin Reserve, buy 1,000,000 BTC over five years, hold assets long‑term, and set custody, audit, and reporting rules.
Introduced March 11, 2025 by Nicholas J. Begich · Last progress March 11, 2025
Creates a federal Strategic Bitcoin Reserve and requires the Treasury to buy and hold large quantities of Bitcoin. The bill affirms private property rights in lawfully acquired Bitcoin and self-custody of private keys, directs the Treasury to acquire 200,000 BTC per year for five years (1,000,000 BTC total) into a geographically dispersed, cold‑storage reserve, and sets long minimum holding periods, reporting, audits, and custody rules. It also amends Treasury authorities so certain federal funds and the Exchange Stabilization Fund may hold Bitcoin, forbids federal agencies from selling seized Bitcoin (requiring transfer to the reserve), allows states to opt into segregated storage accounts, and directs specific accounting and funding steps using Federal Reserve remittances and gold‑certificate adjustments to support the purchase program.