Bitcoin Reserve Bill Revised with Lower Target and Lockup Period

A proposed legislation aiming to establish a strategic bitcoin reserve has undergone significant changes. The revised bill, which seeks to create and manage a fund for acquiring and holding bitcoins, has reduced its target purchase amount from 1 million BTC to an undisclosed value.

The updated version of the bill also introduces a new provision: a 20-year lockup period for the funds held in the reserve. This means that any bitcoin holdings acquired through this program will be subject to a long-term lock, preventing them from being used or sold for at least two decades.