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Crypto

MSTR Surges as Congress Creates Strategic Bitcoin Reserve

Guavy AI Editorial Team
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BTC
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Strategy's stock (MSTR) surged over 16% to $153.92 on September 18, following US Congressional approval of a bill creating a Strategic Bitcoin Reserve.

The American Reserve Modernization Act (H.R. 8957), endorsed by the House Financial Services Committee with a 28-21 vote on September 16, stipulates that funds qualifying for the reserve must remain under federal custody for at least 20 years.

Strategy's corporate treasury holds a total of 840,050 BTC, and CEO Phong Le stated that the company considers potential sales of small amounts of Bitcoin based on market conditions or integration with traditional finance.

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