BITCOIN Act of 2024
The BITCOIN Act of 2024 requires the U.S. Treasury to establish a Strategic Bitcoin Reserve for long-term government storage of Bitcoin. It mandates purchasing up to 1,000,000 Bitcoins over five years (200,000 annually), to be stored in secure offline facilities across the U.S. and held for a minimum of 20 years without sale. The bill also requires the Treasury to store Bitcoin acquired from network forks or airdrops and allows states to voluntarily place their Bitcoin in the reserve under segregated accounts. Funding for the program comes from adjustments to Federal Reserve surplus funds and gold certificate conversions.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jul 2024
Committee Review
Floor Vote
President
Introduced Jul 31, 2024
Last action Jul 31, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jul 31, 2024
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
Jul 31, 2024
Introduced
Introduced in Senate
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Cynthia M. Lummis
RRepublican
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