Lawmakers and Digital Assets Subcommittee Tom Emmer believes a strategic Bitcoin (BTC) reserve plan will be enacted to acquire 1 million BTC before the end of the assembly.
While attending the Digital Assets Summit, he granted multiple invoices to implement state-level Bitcoin reserves. According to Bitcoin Act data, 23 US states have laws proposing Bitcoin reserves.
Emer said:
“So, yes, there’s a law, and I believe it will be enacted before this assembly is complete.”
He also shared that the Digital Assets Subcommittee represents a “enhanced form of currency” and is deeply interested in stubcoin to expand access to the US dollar.
1M BTC in 5 years
Regarding Bitcoin Reserve, Emmer referenced Recently reintroduced Bitcoin Act, written by Senator Cynthia Ramis and co-hosted by five Republican senators.
The law allows the US government to add up to 1 million BTC to the Treasury over five years, and is funded by adjustments to the Federal Reserve’s net profit and financial certificates based on the Fed’s holdings of money.
The amount obtained will then be held for at least 20 years under the control of the Ministry of Finance. The bill allows for sale, but the Treasury Secretary is preventing the reserve from cutting more than 10% within the two-year period.
President Donald Trump’s Bitcoin reserve plan Presidential Order signed on March 7th It’s different from legislative efforts being made by lawmakers.
The executive order focuses on maintaining Bitcoin seized as a long-term storage of Bitcoin seized by US authorities and does not establish a time frame for obtaining or holding BTC. Estimates suggest that the US currently has nearly 200,000 BTC.
Additionally, it is mandatory that Bitcoin purchases should be made through a budget-neutral strategy conceived by Treasury Secretary Scott Bescent and Commerce Secretary Howard Luttonick.
