U.S. Congressman Seeks to Protect Trump’s Bitcoin Reserve Order
U.S.Congressman Byron Donalds plans to introduce a bill to safeguard President Donald Trump’s executive order on Bitcoin. This order establishes a strategic Bitcoin reserve and a U.S. digital asset stockpile. The bill aims to prevent future presidents from reversing this decision.
Donalds, a Florida Republican, believes it’s time for his party to support crypto. He has embraced the technology and is running for Florida governor. The bill needs 60 Senate votes and a House majority to pass.
Trump’s administration is more crypto-amiable than the previous one. The executive order mandates creating a Bitcoin reserve using BTC held by the U.S. government or seized from criminal activities. It also prohibits selling any Bitcoin in the reserve.
The order authorizes the Treasury and Commerce Departments to develop budget-neutral strategies for buying more Bitcoin. This ensures the government doesn’t use taxpayer money for thes purchases.
AI and crypto expert David Sacks estimates the U.S. government holds 200,000 BTC.Though,the exact amount is unknown as it hasn’t been fully audited.
