U.S. Congressman Nick Begich (R-AK) made significant statements regarding the Bitcoin bill that proposes the U.S. Treasury to purchase 1 million Bitcoin over the next five years. Begich stated that the likelihood of the bill passing in Congress is increasing and support for the proposal continues to grow.
A Clear Plan for 1 Million BTC Purchase
Begich emphasized the importance of restructuring the Bitcoin system for the financial development of the United States. The bill aims for the U.S. Treasury to acquire 1 million BTC, with 200,000 BTC each year. The purchases will be budget-neutral, meaning they will not impose any additional tax burden on citizens. These funds will be sourced from Federal Reserve dividend payments and the revaluation of gold certificates.
Begich noted that Congressional awareness of Bitcoin is increasing, and lawmakers are becoming more sensitive to national debt and budget deficits. This development has strengthened support for the bill. Bitcoin, like gold, is being highlighted as a valuable asset that should be part of the national reserves.
Growing Political and Public Support
The Bitcoin bill enjoys bipartisan support in Congress. Other supporters of the bill include Representatives Pat Harrigan (R-NC), Troy Nehls (R-TX), and Michael Rulli (R-OH). Senator Cynthia Lummis (R-WY) is also in the process of introducing a similar proposal in the Senate.
The bill is well-received in the cryptocurrency sector. Organizations like the Bitcoin Policy Institute view the bill as part of an effort to modernize the U.S. financial system. Additionally, the public belief that Bitcoin protects against inflation makes it easier for the bill to gain support.
Reserves Will Be Transparent
Begich announced that the Bitcoin purchased under the bill will be stored in publicly visible addresses. This will allow the public to track exactly how much BTC the government holds. Begich stressed the importance of transparency and referred to past issues with the lack of auditing of Fort Knox gold reserves, which harmed public trust. He stated that Bitcoin can help overcome this issue.
Support for Bitcoin Bill Grows
Members of Congress supporting the bill:
- Pat Harrigan (R-NC)
- Troy Nehls (R-TX)
- Michael Rulli (R-OH)
U.S. Aims to Lead in Digital Assets
The Bitcoin bill aligns with President Trump’s recent Strategic Bitcoin Reserve initiative. These efforts show that the U.S. is following a planned path to officially recognize Bitcoin as a strategic asset. Begich stated that if the bill is enacted, it will serve as an example in many ways.
The United States aims to strengthen its global leadership in the field of digital assets through the Bitcoin system. Begich mentioned that this process is under constant observation and that they are working intensively thanks to strong public support.
