Congressman Byron Donalds to Introduce a Bill Implementing President Trump's Executive Order to Create a National Bitcoin Reserve

United States Congressman Byron Donalds will introduce a bill on Friday to implement President Donald Trump's executive order to create a strategic Bitcoin (BTC) reserve and a national crypto stockpile.

Congressman Byron Donalds will introduce a bill on Friday to implement President Donald Trump’s executive order to create a strategic Bitcoin (BTC) reserve and a national crypto stockpile.

The bill needs majority support in the House of Representatives and at least 60 votes in the U.S. Senate to pass.

It is likely to pass with strong backing as the Trump administration has seen support for cryptocurrency and blockchain technology grow across both parties.

“For years, the Democrats waged war on crypto. Now is the time for Congressional Republicans to decisively end this policy folly,” said Donalds.

While support for crypto has varied between Democrats and Republicans in recent years, the two parties will likely come together to support Trump’s executive order.

This means that the strategic Bitcoin reserve and crypto stockpile cannot be dismantled by a future president through executive action.

Trump’s executive order also mandates the Treasury Department to find ways to expand the Bitcoin holdings without impacting taxpayers.

Currently, the administration is planning to grow the crypto reserve using budget-neutral strategies. The government’s main Bitcoin holdings consist of around 200K BTC seized from criminal activities.

Earlier this year, Lummis proposed that the government should buy at least 200,000 BTC annually, aiming to accumulate 1 million BTC in five years.

This move could help decrease Bitcoin’s circulating supply, which in turn could increase demand for the flagship crypto and potentially drive prices higher across the market.