America is locking up its Bitcoin for 20 years

The full text of H.R. 8957, the American Reserve Modernization Act is public. A 20-year lock-up, mandatory proof-of-reserve, and zero new spending authority on all BTC deposited into the reserve.

In 1933, FDR ordered Americans to surrender their gold to save the banking system. 93 years later, Washington wants to do the opposite: legally bind itself to hoard a decentralized digital commodity. On June 8, the full text of H.R. 8957, the American Reserve Modernization Act (ARMA), went public: a 20-year lock-up on the government’s 328,372 BTC, manda…