On January 20, the rumor about Trump's "Bitcoin Reserve Act" being leaked prematurely was false, and any potential information needs to wait for the official announcement from the US government.
Previously, on July 31, 2024, US Senator Cynthia Lummis of Wyoming officially introduced the "Bitcoin Strategic Reserve Act", which will instruct the US government to establish a reserve fund for this scarce decentralized asset.
The act will establish a "decentralized secure BTC vault network" controlled by the US Department of the Treasury. The act also instructs lawmakers and officials to develop strict cybersecurity parameters and other physical security measures to ensure that BTC funds are not stolen.
The act also sets a long-term goal of accumulating 1 million BTC over time, which is about 5% of the total BTC supply. The act plans to use existing US Treasury funds to purchase BTC in an amount corresponding to the US Treasury's gold allocation.
