
US House committee approves bill to buy bitcoin with budget funds
- —The Treasury could buy BTC only without increasing the national debt; loans and taxes cannot be used
- —The reserve is locked for 20 years from the law's effective date, not from the time of purchase
- —In a crisis, the Treasury could sell up to 10% of the reserve bitcoin once every two years
- —Government agencies have accumulated between 198,000 and 328,372 BTC in seized coins
Why it matters: Legislating a US bitcoin reserve could create permanent state demand for BTC.
Source: BitNovosti