U.S. House Committee passes bill for Bitcoin strategic reserve

The U.S. House Financial Services Committee has passed the ‘American Reserve Modernization Act’, a move that has revitalized interest in establishing a Bitcoin strategic reserve. The bill proposes that the U.S. Treasury incorporate a significant portion of the government’s approximately 325,000 Bitcoin—largely acquired through criminal and civil forfeitures—into a strategic reserve for a minimum of 20 years. The legislation also mandates quarterly audited reports to confirm government holdings and calls for research into acquiring more Bitcoin without increasing the national deficit.

In response to these policy developments, Zcash (ZEC) saw a significant price increase of approximately 10% in Asian markets, reaching over $1,616. The asset’s market exposure in the United States is further supported by corporate and institutional channels. Cypherpunk Technologies maintains a substantial Zcash treasury, holding over 323,000 ZEC. Additionally, Grayscale offers a Zcash ETF (ZCSH) listed on NYSE Arca, with Coinbase serving as the prime broker and custodian. Zcash is also accessible to U.S. users through platforms such as Robinhood and Gemini.