Congressman Emmer Confident 1 Million BTC Reserve Bill Will Pass

Congressman Tom Emmer, who serves as the Vice Chairman of the Digital Assets Subcommittee, has expressed confidence that the strategic plan to acquire 1 million Bitcoin (BTC) for the US government will be enacted before the current Congress concludes. Emmer made these remarks during his participation in the Digital Asset Summit, where he acknowledged the presence of multiple bills aimed at implementing state-level Bitcoin reserves. According to available data, 23 US states have proposed legislation for Bitcoin reserves.

Emmer stated, “So, yes, there is legislation. And I believe that before this Congress is done, that will be enacted.” He also highlighted the Digital Assets Subcommittee's keen interest in stablecoins, describing them as an “enhanced form of currency” that expands access to the US dollar.

Regarding the Bitcoin reserve, Emmer referenced the recently reintroduced BITCOIN Act, authored by Senator Cynthia Lummis and cosponsored by five Republican Senators. This legislation authorizes the US government to add up to 1 million BTC to its treasury over a period of five years. The funding for this acquisition would come from the Federal Reserve’s net earnings and adjustments to Treasury certificates based on the Fed’s gold holdings. The acquired Bitcoin would be held for at least 20 years and managed by the Treasury Department. The bill allows for divestment but prevents any Treasury Secretary from reducing more than 10% of the reserve within a two-year timeframe.

Separately, President Donald Trump’s Bitcoin reserve plans, introduced through an executive order signed on March 7, focus on maintaining Bitcoin seized by US authorities as a long-term store of value. This executive order does not establish specific timeframes for acquiring or holding BTC. Estimates suggest that the US currently holds nearly 200,000 BTC. The order mandates that any Bitcoin purchase should occur through budget-neutral strategies devised by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.

Emmer's comments underscore the growing interest and legislative efforts surrounding Bitcoin and digital assets within the US government. The potential enactment of the 1 million BTC reserve plan reflects a strategic move to integrate Bitcoin into the national treasury, aligning with broader efforts to recognize and regulate digital currencies. The focus on stablecoins further indicates a broader interest in enhancing the US dollar's accessibility and utility in the digital age. The legislative and executive actions highlight a concerted effort to position the US as a leader in the evolving landscape of digital assets and cryptocurrencies.