The bill outlines a BTC Purchase Program designed to acquire approximately 5% of the total Bitcoin supply over a five-year period, mirroring the scale of US gold reserves. The BTC acquired would be held for a minimum of 20 years, ensuring a long-term investment strategy.
A number of crypto industry leaders have also suggested innovative ways to implement this executive order, including proposals to use BTC for refinancing national debt.
The Institute estimates that, assuming a scale of $2 trillion in BitBonds, this initiative could generate annual interest savings of approximately $700 billion over a decade.
Matthew Sigel, head of digital asset research at VanEck, echoed this proposal during the Strategic Bitcoin Reserve Summit on April 15.
While Lummis is enthusiastic about advancing the Bitcoin Act, the path to full Congressional approval remains uncertain. The success of the bill will depend on garnering support from her Senate colleagues, critical for increasing the nation’s Bitcoin holdings.
When writing, the market’s leading cryptocurrency trades at $108,975, recording a slight retrace of 0.5% in the 24-hour time frame and 2.5% when compared to its record high of $111,800 reached last week.
Featured image from DALL-E, chart from TradingView.com
