news 
Trump Crypto Executive Order Sparks New Bill for U.S. Bitcoin Stockpile
The United States is on the cusp of a significant development in its cryptocurrency landscape, as a new bill seeks to implement President Donald Trump’s executive order regarding a strategic Bitcoin reserve and stockpile. Congressman Byron Donalds has announced plans to introduce the legislation on Friday, aiming to establish a permanent solution that will withstand future presidential administrations.
According to sources, the proposed bill requires a minimum of 60 votes in the Senate and majority support in the House of Representatives for it to pass. Given the bipartisan backing that cryptocurrency has garnered under Trump’s administration, the odds are stacked in favor of this legislation moving forward.
The executive order issued by President Trump earlier set the stage for this development, allowing the Treasury Department to develop a strategy for purchasing more Bitcoins and allocate budget-neutral resources towards its acquisition. The move is seen as a crucial step towards legitimizing Bitcoin as a valuable asset class, with implications that extend far beyond the cryptocurrency market.
In his statement, Representative Donalds emphasized the need for Republicans to put an end to the perceived “war on crypto” waged by Democrats in the past. With this bill, he aims to ensure that any strategic Bitcoin reserve and stockpile created under Trump’s administration will not be vulnerable to elimination via executive action from future presidents.
As part of the plan, the U.S. government is exploring innovative ways to purchase more Bitcoins without placing a burden on taxpayers. Some experts suggest that the government could issue Bitcoin-backed bonds or permit citizens to pay taxes in cryptocurrency and accepted assets. The goal remains the accumulation of at least 200,000 Bitcoins annually, with the long-term target being one million BTCs within five years.
If successful, this bill would be a game-changer for the cryptocurrency market, potentially sparking a supply-and-demand shock that could fuel further growth and optimism in the space.
Source: https://coinpedia.org/news/trump-crypto-executive-order-sparks-new-bill-for-u-s-bitcoin-stockpile/
