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What will be the US Senate's decision on the Bitcoin Act by end of 2024?
5
Resolution / Starting Odds
Approved without amendments • 25%
Approved with amendments • 25%
Rejected • 25%
No decision by deadline • 25%
Official announcement from the US Senate or relevant government body
Story
US Government to Become Largest Bitcoin Holder with Proposed Bitcoin Act to Buy 1,000,000 Bitcoins
Nov 13, 2024, 11:22 PM
The proposed Bitcoin Act, if approved, will make the U.S. Government the largest holder of Bitcoin. The Act promises to buy 1,000,000 Bitcoins, which accounts for 5% of the total Bitcoin supply, and hold them for 20 years. The draft Strategic Bitcoin Reserve Bill, introduced by Senator Cynthia Lummis, requires the Treasury to hold the Bitcoins for twenty years and, even after this period, sell no more than 10% in any one year. The Act is seen as a long-term strategy to invest in Bitcoin. The ticker for the Bitcoin Act is $BTCACT.
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Passed • 25%
Rejected • 25%
Postponed • 25%
Withdrawn • 25%
Passes with majority • 25%
Fails to pass • 25%
Not brought to vote • 25%
Other outcome • 25%
Passed and signed into law • 25%
Passed but vetoed • 25%
Failed to pass • 25%
Stalled in Congress • 25%
Passed and implemented • 25%
Passed but not implemented • 25%
Not passed • 25%
Delayed decision • 25%