The Strategic Bitcoin Act was introduced today:

The BITCOIN Act of 2024 proposes the establishment of a Strategic Bitcoin Reserve to enhance U.S. financial security and competitiveness in the global economy. Here are the key points:

1.Purpose:
•Recognizes Bitcoin as a resilient digital asset similar to gold.
•Aims to diversify U.S. national reserves by incorporating Bitcoin.
•Seeks to strengthen the U.S. dollar’s position in the global financial system.

2.Strategic Bitcoin Reserve:
•A decentralized network of secure Bitcoin storage facilities across the U.S.
•Ensures safe long-term storage and management of government Bitcoin holdings.
•Implements strong security measures with input from defense and homeland security officials.
•Requires retention of Bitcoin forks and airdrops, prohibiting their sale for at least five years.

3.Bitcoin Purchase Program:
•*Authorizes the government to buy up to 200,000 BTC per year for five years (total 1 million BTC)..
•Mandates strategic, transparent purchases to avoid market disruption.
•Establishes a minimum holding period to prevent short-term selling.

4.Oversight & Management:
•The Treasury Secretary is responsible for monitoring and auditing reserves.
•Purchases can be adjusted based FijFTkeUkzI

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