They aren't, though. When the time comes to confiscate it, that would require a bill anyway. Now, that bill will just have to reverse this protection too. It's cheap talk.
The arbitrary specificity of numbers feel like a setup for this to fail...
We also have foreign reserves already, so why a special Bitcoin reserve instead of including Bitcoin with foreign reserves? That'd be much more easy to just do straight up...
Maybe this is for a future negotiation tactic, most likely its just a psyop to create awareness/debates on this issue... but I can't see the end result looking anything like this.
Most importantly, what happens when it's declassified that Satoshi's coins === NSA coins, and the USG already has 20-30% of total supply? Where are the strings to keep that in treasury?
Bitcoin as reserve = YOU are enslaved again and again...
Bitcoin is to empower individuals and NOT governments and politicians.
Bitcoin must flow around as money in order to be strong and give you more freedom. If it would stay in a gov reserve IT IS NOT USEFUL TO YOU AT ALL. They will give again a shitcoin token to use and controls you...
LET'S STOP THIS WHOLE MADNESS WITH THIS so called "bitcoin reserve". is a total bullshit.
Yes, reading the bill the idea is that after 20 years the SBR could sell up to 10% per year.
However I think that is a naive take....I think by the time we reach that point, the SBR would better be used a collateral for fiat loans. Or possibly better, is US Treasury issues "redemption certificates" using SBR as backing. We could wind up with a situation where US Treasury starts issuing its own money again, backed by SBR. (This is probably unlikely, but theoretically possible).
As an aside, Texas currently has a state Gold Depository bank. The idea is you deposit gold into Texas State controlled vaults and they issue you a "redemption certificate" for you to come redeem the physical gold at a later time. Clearly the idea was constructed with the idea that Texas State could become a "currency issuer" of sorts if people were to trade the certificates.....
A similar thing could happen via US Treasury / SBR.
Twenty years from now will likely be a much different world. We could easily be in a scenario of bitcoin being legal tender. In which case, that reserve would basically act as a buffer to smooth out imbalances between revenues and expenditures.
Me likey.