The US House Financial Services Committee formally advanced the Strategic Bitcoin Reserve Act on Wednesday, marking a pivotal shift in the legislative process. Connor Brown, executive director of the Bitcoin Policy Institute, characterized the move as a "historically significant step," emphasizing that the bill is the first legislation authorized by a federal committee to establish secure storage facilities for bitcoin held by the US government, thereby formally integrating the cryptocurrency into the national strategic asset management framework.
The political dynamics and procedural milestones behind the legislation are equally notable. Republican Representative Bryan Steil of Wisconsin voiced strong support for the bill, pointing out that the current custody methods for seized bitcoin are fragmented and inconsistent, creating cybersecurity risks and exposing serious deficiencies in federal-level accounting management. The bill ultimately received a favorable assessment with a 28-21 vote, which means it will be placed on the House's legislative calendar.
Notably, this development comes on the heels of the Clear Act failing to pass a procedural vote in the Senate. Senator Angela Alsobrooks stated bluntly that Republicans "want this bill to fail," while Jeremy Allaire, CEO of Circle (CRCL.US), indicated that negotiations on the Clear Act are already 90% complete. Before becoming law, the bill must still pass full votes in both the House and Senate, followed by President Donald Trump's signature.
Under the specific provisions of the bill, the government would be required to hold all its bitcoin for 20 years, with strict prohibitions on selling, exchanging, auctioning, or pledging these assets in any form. Additionally, the US Treasury Department and the Commerce Department would be directed to identify methods for acquiring additional bitcoin that would not impact budget balance. Trump signed a related executive order in March 2025, deciding to fund this reserve program entirely through bitcoin obtained via criminal and civil asset forfeiture procedures.
Data compiled by Woofun AI shows that the US government currently holds 324,527 bitcoin, valued at approximately $24.77 billion. Benjamin Cowen noted that based on historical price patterns, the cryptocurrency could potentially decline to between $70,000 and $75,000 following a golden cross formation, adding an element of uncertainty to market sentiment.
Real-time market activity reflects the subtle fluctuations driven by legislative progress. At the time of writing, bitcoin is trading at $76,338, up 0.61% over the past 24 hours. While short-term price movements are influenced by technical factors, the legislative breakthrough is reshaping bitcoin's macro narrative. This represents a key step by the US government to further solidify its digital asset reserves at the institutional level following the executive order establishing strategic asset status, signaling a substantive tightening and normalization of the future regulatory framework.