#BitcoinReserveDeadline Today, May 5, 2025, is a notable date concerning Bitcoin in the U.S. due to two key developments, neither of which directly imposes a "Bitcoin Reserve Deadline" in the sense of a mandatory requirement for private entities.
1. Strategic Bitcoin Reserve Report Deadline:
* Today marks the deadline for the U.S. Treasury Secretary Scott Bessent to submit a comprehensive assessment regarding the establishment and management of a national Strategic Bitcoin Reserve.
* This evaluation is mandated by President Trump's executive order issued on March 6, 2025.
* The reserve would be capitalized with Bitcoin assets seized by the government through legal proceedings, and these assets are intended to be held as reserve assets, not to be sold.
* The report is expected to detail the legal and investment considerations for this initiative, including where the assets should be held and any necessary legislative requirements.
* The executive order also established a United States Digital Asset Stockpile for other seized digital assets.
In summary, today's "deadline" pertains to the Treasury's report on how the U.S. government will manage its strategic Bitcoin holdings acquired through forfeitures.
2. Proposed "BITCOIN Act":
* Senator Cynthia Lummis introduced the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act in the Senate on March 11, 2025.
* This bill aims to codify President Trump's vision for a Strategic Bitcoin Reserve into law.
* Beyond the executive order, the proposed act suggests a 1-million-unit Bitcoin purchase program over a set period to acquire approximately 5% of the total Bitcoin supply, mirroring the scale of U.S. gold reserves.
* This act is currently in the "Introduced" stage in the Senate Banking, Housing, and Urban Affairs Committee.
Regarding Bitcoin as a reserve asset for stablecoin issuers under the proposed USStablecoinBill (GENIUS Act and STABLE Act):
* Neither of the main proposed stablecoin bills (GENIUS Act passed by the Senate Banking Committee.