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House Advances Bill to Codify US Bitcoin Reserve Into Federal Law

Guavy AI Editorial Team
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BTC
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The US Strategic Bitcoin Reserve took a significant step forward on September 16, when the House Financial Services Committee voted 28-21 to advance H.R. 8957, the American Reserve Modernization Act.

The bill would codify the reserve into federal law for the first time, directing the Treasury Department to maintain a secure Bitcoin storage facility and formally backing President Trump's March 2025 executive order.

The US government holds an estimated 328,372 BTC, worth approximately $28.2 billion at current prices, making it the largest known state Bitcoin holder in the world.

A parallel Senate bill, the BITCOIN Act sponsored by Senator Cynthia Lummis, would go further by directing the Treasury to actively purchase one million BTC over five years.

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