US Bitcoin Reserve Bill Faces Uncertain Future in Congress

The US Bitcoin reserve bill is set to be considered in the House Financial Services Committee on September 16. Introduced in May, the bill proposes formalizing a strategic BTC reserve, with some sales directed towards offsetting national debt.

Main sponsor Nick Begich (R-Alaska) notes that global sentiment has shifted towards alternatives and the US needs to adapt. The proposal includes holding BTC for at least 20 years.

However, the bill's progress outlook is low due to a tight Congressional calendar ahead of November midterms. Prediction sites place a 5-6% chance of passage before 2027, down from 60% in December last year.