BITCOIN Act of 2025
BITCOIN Act of 2025
Plain Language Summary
# BITCOIN Act of 2025 Summary **What the Bill Would Do:** The BITCOIN Act would require the U.S. government to purchase 1 million Bitcoins over five years and hold them in a newly created "Strategic Bitcoin Reserve." The Treasury Department would manage these holdings, which must be kept for at least 20 years. After that period, Treasury could recommend selling some Bitcoin to help pay down the national debt. The bill also allows the government to add Bitcoins acquired through criminal forfeitures, transfers, and gifts to this reserve. **Who It Affects:** This proposal affects taxpayers (since it involves federal spending), the Treasury Department (which would manage the reserve), and potentially the broader cryptocurrency and financial markets.
The bill's success would depend on cryptocurrency market conditions and could influence Bitcoin's value given the government's large-scale buying power. **Current Status:** The bill is currently in committee and has not been voted on by Congress. It was introduced by Rep. Nicholas Begich (R-AK) in the 119th Congress. Since it remains in committee, it has not yet advanced for a full House vote or Senate consideration.
CRS Official Summary
Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act of 2025 or the BITCOIN Act of 2025This bill provides for the acquisition and storage of the cryptocurrency Bitcoin by the U.S. government.The Department of the Treasury must purchase one million Bitcoins over a five-year period and hold the Bitcoins in trust for the United States. The bill also allows for additional acquisitions through specified transfers, forfeitures, and gifts. All Bitcoins acquired by the United States and placed into the Strategic Bitcoin Reserve must be held for at least 20 years. At the end of this period and upon the recommendation of Treasury, a percentage of the holdings may be sold to reduce the national debt. The bill also establishes exceptions to this holding period for specified Bitcoin asset distributions and splits.The bill directs Treasury to establish a Strategic Bitcoin Reserve for the secure storage of U.S. Bitcoins. The reserve must be a decentralized network of secure facilities across the United States. Existing U.S. Bitcoin holdings must be transferred to the reserve. States may voluntarily store Bitcoin holdings in the reserve in segregated accounts.The bill also reduces the total amount of U.S. dollars Federal Reserve banks may hold in surplus and requires Federal Reserve banks to remit a certain amount of net earnings annually to the purchase of Bitcoins.The bill also allows the use of Treasury’s Exchange Stabilization Fund to carry out purchases made under this bill.
Latest Action
Referred to the House Committee on Financial Services.