In a pivotal move reflecting the growing influence of cryptocurrency in economic policy, a bipartisan cohort of U.S. lawmakers has rallied behind the American Reserve Modernization Act, a groundbreaking bill aimed at designating Bitcoin as a strategic reserve asset. This legislation mandates that Bitcoin must be held for a minimum of 20 years, unless utilized for the express purpose of alleviating the national debt, which currently exceeds $39 trillion.
Representative Nick Begich, the bill's primary sponsor, detailed that the new initiative seeks to accumulate approximately 1 million Bitcoins over the next five years. This ambitious campaign intends to position the U.S. Treasury as the custodian of a Strategic Bitcoin Reserve alongside other federally held cryptocurrencies. “It’s a significant step toward establishing a coherent federal policy on this asset,
Source: CoinTelegraph Bitcoin
