The US Congress promotes research on Bitcoin reserves, requiring the Treasury Department to submit a feasibility report within 90 days.
According to ChainCatcher, based on relevant documents, U.S. Congressman David P. Joyce has submitted an appropriations bill requiring the Treasury Department to submit a report within 90 days of the bill's enactment on the feasibility and technical considerations of establishing a strategic bitcoin reserve and digital asset reserve. The report should cover aspects such as custody methods, legal authorization, cybersecurity measures, interdepartmental transfers, the presentation of assets on the Treasury's balance sheet, and third-party custodians.
The report must also assess implementation obstacles and the impact on the Treasury's forfeiture fund. In March of this year, President Trump signed an executive order to establish a strategic bitcoin reserve and digital asset reserve. Treasury Secretary Scott Bessent stated that they are exploring "budget-neutral" ways to expand bitcoin reserves. Currently, countries around the world hold more than 517,000 bitcoins in reserves, accounting for 2.46% of the total supply.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
JPMorgan raises BlackRock's target price to $1,449
ECB’s Dolenc says central bank may not have to do as much if markets tighten
BlackRock CEO Larry Fink warns: AI infrastructure has become the backbone of the US economy, halting data center construction will trigger a recession
BlackRock CEO Larry Fink has issued a rare recession warning, stating that if the United States imposes any form of moratorium on data center construction, the economy will plunge directly into recession. As the midterm elections approach, the construction of AI infrastructure has escalated from a business issue to a political bombshell. Analysts predict that AI capital expenditures could surpass 1 trillion dollars by 2027. Any disruption in policy would trigger a chain reaction impacting the supply chain, job market, and energy industry.
BTC market dominance rises to 60.46%
Crypto prices
More
