Recent reports have revealed that another member of the US House of Representatives will introduce a new bill on March 14 to codify US President Donald Trump’s executive order for a Strategic Bitcoin Reserve (SBR). This move follows concerted efforts by several US lawmakers to formalize and bolster Trump’s cryptocurrency framework.
New Bill Proposes US Bitcoin Reserve’s Protection
On Friday, Bloomberg reported that US Representative Byron Donalds will introduce a bill to codify President Trump’s executive order aimed at establishing a national Bitcoin (BTC) reserve. The proposed legislation seeks to formalize Trump’s plan and protect the strategic reserve from potential adverse actions by future administrations.
According to the report, the bill would ensure that the reserve and stockpile could not be eliminated by executive action from a future president. The executive order, signed by the US President on March 6, establishes a strategic BTC reserve and a “Digital Asset Stockpile” within the US Department of the Treasury.
The order indicates that these initiatives will be funded by cryptocurrency seized from government criminal and civil forfeiture proceedings, which includes the approximately 200,000 BTC held by the Treasury Department along with other digital assets.
In a statement to Bloomberg, Donalds emphasized the urgency of this legislation, claiming that Democrats have “waged a war” on the crypto industry and asserting that the time has come for Congressional Republicans to take decisive action. Passage of the legislation will require at least 60 votes in the US Senate alongside a House majority.
Donalds’ initiative is part of a larger movement by various US lawmakers to recognize Bitcoin as a strategic asset at both state and national levels under the new crypto-friendly administration, echoed by actions from Senator Cynthia Lummis to codify Trump’s recent executive order.
On Tuesday, US Senator Lummis reintroduced her reserve bill, initially proposed last July, aimed at implementing a BTC purchase program. This bill (S954), titled the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act, is co-sponsored by several Republican Senators and aims to ensure the transparent management of Bitcoin holdings by the Federal Government.
Lummis has highlighted this legislative effort as landmark, stating it will codify President Trump’s vision for a Strategic Bitcoin Reserve, thereby strengthening the nation’s economic foundation for the foreseeable future.
Lawmakers Split Over Trump’s Crypto Reserve
In parallel, US Representative Nick Begich has introduced the “Bitcoin Act on 2025,” a companion bill to Senator Lummis’s legislation. Supported by six Republican Representatives, Begich’s bill is intended to secure the United States’ financial independence and ensure its leadership in the global digital economy.
Begich has underscored the necessity of the US establishing a formal Bitcoin reserve comparable to its gold reserves—arguing that “America cannot afford to fall behind in this financial revolution.”
On the other hand, dissenting voices among Congress members have emerged against President Trump’s crypto strategy. Democratic Representative Gerry Connolly has publicly opposed the strategic reserve plans, advocating for their abandonment in a letter addressed to Treasury Secretary Scott Bessent.
Connolly contends that a Bitcoin reserve provides no tangible benefits to the American public, positing that it would primarily benefit the President and his supporters while undermining sound fiscal policy. His letter also requests documentation regarding the proposed reserves and asks for details about safeguards intended to prevent potential conflicts of interest among government officials.
