House Advances Bitcoin Reserve Bill With 20-Year Holding Requirement

The U.S. House Financial Services Committee has advanced the Bitcoin Reserve Bill, also known as H.R. 8957, by a 28-21 vote. This bill would establish a Strategic Bitcoin Reserve with Treasury custody and impose a minimum 20-year holding period for government-held Bitcoin.

Under the proposed legislation, Treasury would consolidate federally held Bitcoin under its control and would be required to publicly disclose the government's total Bitcoin holdings following an independent audit. The bill also establishes an annual proof-of-reserve system requiring public reports covering holdings, transactions, and demonstrated control of private keys, alongside verification by an independent third-party auditor.

The 20-year holding requirement would limit the government's ability to liquidate reserve Bitcoin during that period. Treasury and the Commerce Department would study budget-neutral methods of acquiring additional BTC within 180 days of enactment, excluding new borrowing, taxation, or deficit spending as funding.