The legislative proposal known as the Bitcoin Act is gaining significant support, driven by Congressman Nick Begich's efforts. The Act proposes the creation of a strategic BTC reserve.
Legislative Initiative by Congressman Begich
Congressman Nick Begich is actively promoting the Bitcoin Act, aiming to make it a strategic asset for the U.S. The legislation mandates the U.S. Treasury to purchase 1 million BTC over five years. Begich claims that in light of the growing national debt and budget deficit, the Act would help diversify national reserves and strengthen economic stability.
Public Support and Interest in the Bitcoin Act
The proposal has garnered interest from the digital asset sector and politicians. The bill is supported by institutions and commentators who see it as a means of updating financial infrastructure. Public support is growing, with the Act viewed as a hedge against inflation and economic volatility. The legislation also secures citizens' rights to self-custody of BTC, drawing attention from financial freedom advocates.
U.S. Strengthens Leadership in Digital Assets
The Bitcoin Act follows the president’s recent order to establish a Strategic Bitcoin Reserve, demonstrating the government’s commitment to digital assets. Congressman Begich's efforts and the support of other lawmakers highlight the readiness for policy change and aim to embed BTC into the national financial strategy for future economic growth.
The success of the Bitcoin Act could be a vital step in recognizing BTC within national strategy and creating a template for other nations. Congressman Begich is convinced that the U.S. can ensure transparency by implementing a reserve auditing system.
