Congressman and Vice Chairman of the Digital Assets Subcommittee Tom Emmer

Tom Emmer believes the strategic Bitcoin (BTC) reserve plan to acquire 1 million BTC will be enacted before the end of this Congress.

Congressman and Digital Assets Subcommittee Vice Chairman Tom Emmer believes that the strategic Bitcoin (BTC) reserve plan to acquire 1 million BTC will be enacted before the end of this Congress.

While participating in the Digital Asset Summit, Emmer acknowledged the multiple bills to implement state-level Bitcoin reserves. According to data from the Bitcoin Laws, 23 US states have legislation proposing Bitcoin reserves.

Emmer said:

“So, yes, there is legislation. And I believe that before this Congress is done, that will be enacted.”

He also shared that the Digital Assets Subcommittee is deeply interested in stablecoins, viewing them as an “enhanced form of currency” that broadens access to the US dollar.

1M BTC in 5 years

Discussing the Bitcoin reserve, Emmer made reference to the recently reintroduced BITCOIN Act, which was written by Senator Cynthia Lummis and has five Republican Senators as cosponsors.

This legislation proposes that the US government is authorized to add up to 1 million BTC to its treasury over a period of five years. The funding for this initiative would come from the Federal Reserve's net earnings and adjustments to Treasury certificates linked to the Fed's gold holdings.

The amount of BTC acquired would then be held for a minimum of 20 years and managed by the Treasury Department. The bill does permit divesting but prevents any Treasury Secretary from reducing more than 10% of the reserve within a two-year timeframe.

President Donald Trump's Bitcoin reserve plans were announced in an executive order signed on March 7 and are distinct from the legislative endeavors being undertaken by members of Congress.

Trump's executive order focuses on maintaining Bitcoin, which is typically seized by US authorities, as a long-term store of value and does not set time limits for buying or selling BTC. It is pertinent to note that, according to estimations, the US currently holds nearly 200,000 BTC.

Moreover, the executive order dictates that any purchase of Bitcoin should be carried out through budget-neutral strategies, which will be devised by Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.