I 
119TH CONGRESS 
1ST SESSION H. R. 2032 
To establish a Strategic Bitcoin Reserve and other programs to ensure the 
transparent management of Bitcoin holdings of the Federal Government, 
to offset costs utilizing certain resources of the Federal Reserve System, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 11, 2025 
Mr. BEGICH (for himself, Mr. MCDOWELL, Mr. HARRIGAN, Mr. RULLI, Mr. 
NEHLS, Mr. TAYLOR, and Mr. COLLINS) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To establish a Strategic Bitcoin Reserve and other programs 
to ensure the transparent management of Bitcoin hold-
ings of the Federal Government, to offset costs utilizing 
certain resources of the Federal Reserve System, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Boosting Innovation, 
Technology, and Competitiveness through Optimized In-
vestment Nationwide Act of 2025’’ or the ‘‘BITCOIN Act 
of 2025’’. 
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SEC. 2. FINDINGS. 
Congress finds the following: 
(1) The global financial landscape is rapidly 
evolving, with digital assets playing an increasingly 
significant role in the world economy. 
(2) Bitcoin has demonstrated resilience, wide-
spread adoption, and served as a medium of ex-
change and a store of value for more than a decade. 
(3) Just as gold reserves have historically 
served as a cornerstone of national financial secu-
rity, Bitcoin represents a digital-age asset capable of 
enhancing the financial leadership and security of 
the United States in the 21st century global econ-
omy. 
(4) The acquisition and long-term storage of 
substantial quantities of Bitcoin by the United 
States can strengthen the financial condition of the 
United States, providing a hedge against economic 
uncertainty and monetary instability. 
(5) Bitcoin, as a decentralized and finitely 
scarce digital asset, offers unique properties that 
complement existing national reserves, strengthening 
the position of the United States dollar in the global 
financial system. 
(6) Diversification of the national assets of the 
United States to include Bitcoin can enhance finan-
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cial resilience and position the United States at the 
forefront of global financial innovation. 
SEC. 3. DEFINITIONS. 
In this Act: 
(1) AIRDROP.—The term ‘‘airdrop’’ means a 
gratuitous distribution of digital assets to holders of 
Bitcoin in a broad, equitable, and non-discretionary 
manner. 
(2) BITCOIN PURCHASE PROGRAM.—The term 
‘‘Bitcoin Purchase Program’’ means the program es-
tablished under section 5(a). 
(3) COLD STORAGE.—The term ‘‘cold storage’’ 
means a method of storing private keys required to 
transact in Bitcoin, with a nexus to a secure phys-
ical location, protected from unauthorized access and 
isolated from any network connections. 
(4) FORK.—The term ‘‘fork’’ means a change 
to the consensus mechanism of a distributed ledger 
that creates a separate ledger, resulting in a new 
digital asset that shares a common transaction his-
tory with Bitcoin up to the point of the change. 
(5) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of the Treasury. 
(6) STRATEGIC BITCOIN RESERVE.—The term 
‘‘Strategic Bitcoin Reserve’’ means the decentralized 
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network of secure Bitcoin storage facilities estab-
lished pursuant to section 4(a). 
SEC. 4. ESTABLISHMENT OF STRATEGIC BITCOIN RESERVE. 
(a) ESTABLISHMENT.—The Secretary shall establish 
a decentralized network of secure Bitcoin storage facilities 
distributed across the United States, collectively to be 
known as the Strategic Bitcoin Reserve for the cold stor-
age of Government Bitcoin holdings. 
(b) PURPOSE.—The Strategic Bitcoin Reserve shall 
be used for the generation, safekeeping, and management 
of Bitcoin private keys associated with Government 
Bitcoin holdings. 
(c) OVERSIGHT.—The Secretary shall be responsible 
for the ongoing monitoring and auditing of the holdings 
of the Strategic Bitcoin Reserve. 
(d) DECENTRALIZATION.— 
(1) IN GENERAL.—The Secretary shall ensure 
that the facilities of the Strategic Bitcoin Reserve 
are geographically dispersed throughout the United 
States, to minimize the risk of simultaneous com-
promise and to enhance the resilience of the Stra-
tegic Bitcoin Reserve. 
(2) LOCATION
SELECTION.—The Secretary 
shall select the locations for the facilities described 
in paragraph (1) based on a comprehensive risk as-
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sessment, prioritizing geographic diversity, security, 
and accessibility. 
(e) SECURITY MEASURES.— 
(1) IN GENERAL.—The Secretary shall imple-
ment state-of-the-art physical and digital security 
measures to protect the Strategic Bitcoin Reserve. 
(2) CONSULTATION.—The Secretary shall con-
sult and collaborate with the Secretary of Defense, 
the Secretary of Homeland Security, and industry 
experts to ensure the highest level of physical and 
digital security for the Strategic Bitcoin Reserve. 
(f) RETENTION OF FORKS AND AIRDROPS.— 
(1) IN GENERAL.—The Secretary shall ensure 
that, with respect to Bitcoins controlled by the Stra-
tegic Bitcoin Reserve, all digital assets resulting 
from forks of the Bitcoin distributed ledger and dig-
ital assets distributed via airdrops to Bitcoin ad-
dresses are accounted for and reasonably stored in 
the Strategic Bitcoin Reserve. 
(2) PROHIBITION
ON
IMMEDIATE
SALE.—No 
digital asset stored in the Strategic Bitcoin Reserve 
that is the result of a fork or airdrop may be sold 
or otherwise disposed of during the 5-year period be-
ginning on the date of the fork or airdrop, unless ex-
plicitly authorized by law. 
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(3) EVALUATION AND DISPOSITION AFTER THE 
HOLDING PERIOD.— 
(A) MARKET
CAPITALIZATION
ASSESS-
MENT.—Upon the expiration of the 5-year hold-
ing period described in paragraph (2), the Sec-
retary shall conduct an assessment to determine 
which digital asset resulting from a fork has the 
highest publicly traded market capitalization. 
(B) RETENTION OF DOMINANT ASSET.— 
The Secretary shall retain the digital asset with 
the highest publicly traded market capitaliza-
tion that resulted from the fork. 
(C) DISPOSITION OF NON-DOMINANT AS-
SETS.—The Secretary may sell, auction, or oth-
erwise dispose of any digital assets resulting 
from the fork other than the asset identified in 
subparagraph (B), with the proceeds from such 
disposition to be deposited in the general fund 
of the Treasury. 
(D) EXCEPTION FOR NOVEL UTILITY.—If 
the Secretary, in consultation with the Sec-
retary of Commerce and industry experts, de-
termines that a non-dominant forked asset pos-
sesses novel technological utility or strategic 
value to the United States distinct from the 
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dominant asset, the Secretary may recommend 
to Congress the retention of such asset, not-
withstanding subparagraph (C). 
SEC. 5. BITCOIN PURCHASE PROGRAM. 
(a) ESTABLISHMENT.— 
(1) IN GENERAL.—The Secretary shall establish 
a Bitcoin Purchase Program which shall— 
(A) purchase 200,000 Bitcoins per year 
over a 5-year period, for a total acquisition of 
1,000,000 Bitcoins; 
(B) conduct purchases in a transparent 
and strategic manner to minimize market dis-
ruption; and 
(C) hold Bitcoin acquired under this sec-
tion in trust for the United States, as provided 
in this section. 
(2) FLEXIBILITY RELATING TO PURCHASES.— 
The Secretary shall, by rule, establish a procedure to 
adjust the purchase schedule set forth under para-
graph (1), if necessary, based on prevailing market 
conditions. 
(3) TRANSFER
OFFSET.—Any Bitcoin trans-
ferred to the Strategic Bitcoin Reserve under section 
7 may offset the purchase requirements under para-
graph (1). 
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(b) DEPOSIT.—All Bitcoins purchased under the 
Bitcoin Purchase Program shall be placed in the Strategic 
Bitcoin Reserve. 
(c) MINIMUM HOLDING PERIOD.— 
(1) IN GENERAL.—To ensure the long-term sta-
bility and security of the Strategic Bitcoin Reserve, 
the Secretary shall hold all Bitcoin acquired by the 
United States and deposited in the Strategic Bitcoin 
Reserve, regardless of acquisition method, for not 
less than 20 years from the date of acquisition. 
(2) RETENTION OF BITCOIN.—During the min-
imum holding period under paragraph (1), no 
Bitcoin held in the Strategic Bitcoin Reserve may be 
sold, swapped, auctioned, encumbered, or otherwise 
disposed of for any purpose. 
(3) RECOMMENDATIONS
AFTER
HOLDING
PE-
RIOD.— 
(A) IN GENERAL.—On the date that is 2 
years before the end of the minimum holding 
period under paragraph (1), the Secretary shall 
submit to Congress recommendations on wheth-
er to continue to voluntarily hold or to allow for 
the gradual and controlled release of a portion 
of the holdings of the Strategic Bitcoin Reserve 
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for the sole purpose of reducing the national 
debt. 
(B) RECOMMENDATION.—Upon the expira-
tion of the minimum holding period, the Sec-
retary shall not recommend selling more than 
10 percent of the assets of the Strategic Bitcoin 
Reserve during any 2-year period. 
(d) PUBLIC REPORTS.—Not later than 1 year after 
the date of enactment of this Act, and annually thereafter 
for a period of 20 years, the Secretary shall publish an 
annual public report on the status of the Bitcoin Purchase 
Program. 
(e) ADDITIONAL BITCOIN ACQUISITIONS.— 
(1) IN
GENERAL.—Notwithstanding the pur-
chase limit established in subsection (a)(1)(A), the 
United States may acquire and hold Bitcoin in ex-
cess of 1,000,000 Bitcoins if such Bitcoin is ac-
quired through— 
(A) transfers from Federal agencies pursu-
ant to section 7; 
(B) civil or criminal forfeitures; 
(C) gifts or bequests made to the United 
States; or 
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(D) any other lawful means other than di-
rect purchase under the Bitcoin Purchase Pro-
gram. 
(2) TREATMENT OF ADDITIONAL HOLDINGS.— 
Any Bitcoin acquired pursuant to paragraph (1) 
shall— 
(A) be placed in the Strategic Bitcoin Re-
serve; 
(B) be subject to the same security, audit-
ing, and reporting requirements as Bitcoin ac-
quired through the Bitcoin Purchase Program; 
and 
(C) be subject to the minimum holding pe-
riod established in subsection (c)(1). 
(3) LIMITATION.—Nothing in this subsection 
shall be construed to authorize the Secretary to pur-
chase Bitcoin in excess of the limits established in 
subsection (a)(1)(A) through the Bitcoin Purchase 
Program. 
(f) COORDINATION WITH EXCHANGE STABILIZATION 
FUND.—The Secretary shall coordinate Bitcoin purchases 
made through the Bitcoin Purchase Program with any 
Bitcoin purchases made through the Exchange Stabiliza-
tion Fund under section 5302 of title 31, United States 
Code, as amended by section 11 of this Act. 
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SEC. 6. PROOF OF RESERVE SYSTEM. 
To ensure transparency and accountability in the 
management of the Strategic Bitcoin Reserve, the Sec-
retary shall establish an ongoing Proof of Reserve system 
of public cryptographic attestation under which— 
(1) the Secretary shall— 
(A) publish quarterly reports on the Stra-
tegic Bitcoin Reserve that include detailed in-
formation on the total holdings, transactions, 
and demonstrated control of private keys relat-
ing to the Strategic Bitcoin Reserve, including 
a public cryptographic attestation; 
(B) make the quarterly reports available to 
the public on an official website of the Depart-
ment of Treasury; and 
(C) select an independent, third-party 
auditor with expertise in cryptographic attesta-
tions to verify the accuracy and integrity of the 
quarterly reports; and 
(2) the Comptroller General of the United 
States shall, to ensure compliance with this Act, con-
duct regular oversight of— 
(A) the Strategic Bitcoin Reserve; 
(B) the quarterly reports under paragraph 
(1)(A); and 
(C) the audits under paragraph (1)(C). 
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SEC. 7. CONSOLIDATION OF GOVERNMENT BITCOIN HOLD-
INGS. 
Beginning on the date of enactment of this Act, any 
Bitcoin under the control of any Federal agency, including 
the United States Marshal Service, shall— 
(1) not be sold, swapped, auctioned, or other-
wise encumbered; and 
(2) upon the acquisition of legal title to such 
Bitcoin (including after a final, unappealable judg-
ment is entered in a criminal or civil forfeiture ac-
tion in favor of the Federal agency), be transferred 
by the head of such Federal agency to the Strategic 
Bitcoin Reserve. 
SEC. 8. VOLUNTARY STATE PARTICIPATION AND SEG-
REGATED ACCOUNTS. 
(a) VOLUNTARY STATE PARTICIPATION.—The Sec-
retary shall establish a program that allows a State to vol-
untarily participate in storing the Bitcoin holdings of the 
State in the Strategic Bitcoin Reserve in a segregated ac-
count. 
(b) PARTICIPATION REQUIREMENTS.—A State choos-
ing to participate in the program established under sub-
section (a) shall sign a contractual agreement outlining 
the terms and conditions of participation, which shall in-
clude— 
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(1) the responsibilities of both the State and 
the Strategic Bitcoin Reserve in managing and se-
curing the Bitcoin holdings of the State in the seg-
regated account of the State; 
(2) a requirement that the State, in coordina-
tion with the Secretary, develop and implement ap-
propriate security protocols and access controls to 
ensure the integrity and confidentiality of the seg-
regated account of the State; and 
(3) retention of title, and all attendant legal in-
terests, by the State in the Bitcoin held in the seg-
regated account, including title to any digital asset 
that is the result of a fork or airdrop relating to 
such Bitcoin. 
(c) WITHDRAW OR TRANSFER.—Each State partici-
pating in the program established under subsection (a) 
shall have the right to withdraw or transfer the contents 
of the segregated account of the State within the Strategic 
Bitcoin Reserve, subject to the terms and conditions in 
the signed contractual agreement under subsection (b) and 
any applicable Federal regulations. 
(d) LIMITATION OF LIABILITY.— 
(1) IN GENERAL.—Notwithstanding any other 
provision of law, the Federal Government shall not 
be liable for any loss, theft, destruction, or inacces-
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