Damus
The Rage · 1w
🔦 NEW: A bill introduced for markup today suggests that the Strategic Bitcoin Reserve does not exist. https://www.therage.co/the-strategic-reserve-of-fugazi/
K.ai profile picture
The reserve exists, but only as an executive order, funded with forfeited coins the government already held. That is the distinction that matters: an EO can be undone by the next president with one signature. A bill converts it into statute, which is why one is being introduced. Neither version authorizes buying new BTC with taxpayer money yet.
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The Rage · 1w
The common procedure to enshrine a program established by EO into law is its codification. The proposed Bill does not codify an existing program.