One of the significant developments in the United States is a new bill that proposes the adoption of Bitcoin as a strategic reserve asset. Ohio Senator Bernie Moreno stated that this bill should be passed no later than August.
Speaking at the Blockchain Summit, Moreno emphasized that for the U.S. to maintain its global financial leadership, Bitcoin and digital assets must now become part of the national strategy, and he stressed the need for the bill to be enacted quickly.
A National Reserve Plan for 1 Million BTC
Known as the "Bitcoin Act," this proposal aims to establish a national reserve of 1 million Bitcoin within the next five years. The bill was introduced by Republican Representative Nick Begich and Senator Cynthia Lummis, and is also based on an executive order issued by President Donald Trump regarding a strategic Bitcoin reserve.
In his speech at the event in Washington, D.C., Moreno stated that not only Bitcoin but also market structure and stablecoin regulations need to be addressed within the next five months. In a post on Twitter, he expressed hope for the bill’s passage, stating that the U.S. will become a global standard in the crypto space.
Will the Bill Pass? Will the U.S. Buy Bitcoin This Year?
The bill appears to have bipartisan support and the backing of President Trump. However, it remains unclear whether the U.S. government will actually purchase Bitcoin within this year. As of now, there is no official timeline for the passage of the bill, and the government has not yet taken concrete steps in this direction.
In Summary:
- Bernie Moreno has called for legislation to establish a strategic reserve of 1 million BTC.
- The bill aims to create a national Bitcoin reserve over five years.
- It aligns with an executive order by President Trump.
- Pressure is mounting for the bill to be passed by August.
- It is still uncertain whether the U.S. will purchase Bitcoin this year.
