Short title; findings

(a) Short title This Act may be cited as the Bitcoin for America Act. (b) Findings Congress finds the following: (1) Bitcoin operates on a decentralized, open-source protocol with a fixed supply cap of 21 million coins, creating inherent scarcity that contrasts sharply with fiat currencies; historical data shows that Bitcoin’s value has increased dramatically since its 2009 inception, exceeding the compound annual growth rates of traditional assets as a direct result of its deflationary design. (2) By authorizing the acceptance of Federal income taxes in Bitcoin and the deposit of such funds into the Strategic Bitcoin Reserve, the United States will diversify its national wealth into a non-inflationary asset that serves as a long-term store of value, thereby strengthening the Nation’s financial resilience against currency devaluation, economic instability, and global market volatility. (3) Other nations—including but not limited to China, Russia, and emerging economies—actively acquire Bitcoin to diversify their reserves and hedge against global financial instability, such that the United States risks falling behind in this strategic race; authorizing the incorporation of Bitcoin into the United States Strategic Bitcoin Reserve through tax revenues would bolster the Nation’s global competitiveness and safeguard national security by securing a stake in a decentralized, geopolitically neutral asset immune to sanctions or external interference. (4) Bitcoin’s permissionless nature enables individuals to participate in the global economy without reliance on traditional banking systems, which often exclude underserved populations; by enabling the payment of Federal income taxes in Bitcoin, the United States promotes financial inclusion, empowering citizens to engage in a modern, decentralized economy. (5) The value of the United States dollar is influenced by monetary policies, including quantitative easing and interest rate adjustments, which have historically led to inflation and reduced purchasing power; Bitcoin, being free from such interventions, offers a stable alternative for preserving wealth, and the establishment and maintenance of the Strategic Bitcoin Reserve would mitigate risks associated with fiat currency devaluation, ensuring the United States maintains economic strength in an increasingly digital and decentralized global economy. (6) Bitcoin’s value is expected to appreciate due to its scarcity and growing adoption, such that revenues deposited into the United States Bitcoin Strategic Reserve would increase in real value over time, creating a self-sustaining fiscal mechanism that reduces reliance on debt-based financing, enhances the Nation’s balance sheet, and provides a robust financial foundation for future generations.