New strategic bitcoin reserve bill drops 1 million BTC purchase target, adds 20-year lockup period

60-second summary

A new strategic bitcoin reserve bill is proposed, reducing the target purchase from 1 million BTC to an unspecified amount, and introducing a 20-year lockup period for government-held bitcoin. The bill also mandates quarterly public proof-of-reserve disclosures and third-party audits, aiming to increase transparency and accountability in government cryptocurrency management, potentially boosting investor confidence in the space.