Bitcoin Updates: U.S. Suggests Using Bitcoin for Tax Payments to Dominate Worldwide Digital Economy

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Bitcoin Updates: U.S. Suggests Using Bitcoin for Tax Payments to Dominate Worldwide Digital Economy

Bitget-RWA2025/11/23 06:52

By:Bitget-RWA

- U.S. Rep. Warren Davidson introduced the "Bitcoin for America Act," allowing Americans to pay federal taxes in Bitcoin and creating a Strategic Bitcoin Reserve. - The bill cites Bitcoin's fixed supply and long-term appreciation potential, aligning with corporate strategies like Michael Saylor's $48.37B BTC holdings. - It aims to counter global competition from China/Russia while balancing risks like BTC's 30% price drop from its August peak. - Proponents argue voluntary BTC tax contributions could build

A new piece of legislation introduced in the U.S. House of Representatives, known as the "Bitcoin for America Act," proposes to let Americans use

Bitcoin

for federal tax payments, with the collected digital currency being placed into a Strategic Bitcoin Reserve. Announced by Rep. Warren Davidson (R-OH) on November 16, 2025, the bill seeks to update the country’s financial systems by adopting digital assets and to establish the U.S. as a frontrunner in the global digital economy

as stated by Davidson

The legislation claims that Bitcoin’s capped supply of 21 million coins makes it a more reliable store of value over time than traditional fiat money, which can lose value due to inflation. By making it possible to pay taxes in

BTC

, the proposal aims to broaden the nation’s asset base and build a more robust financial system. “This bill will expand Americans’ options for tax payments and reinforce the government’s financial health,” Davidson said,

highlighting Bitcoin’s long-term value growth

The initiative coincides with increasing institutional interest in Bitcoin, as seen with Michael Saylor’s company,

Strategy

Bitcoin Updates: U.S. Suggests Using Bitcoin for Tax Payments to Dominate Worldwide Digital Economy image 0

During the week of November 10-16

, Strategy purchased 8,178 BTC for $835.6 million, averaging $102,171 per coin, raising its total to 649,870 BTC valued at $48.37 billion. The company’s assertive buying, financed by equity and debt, demonstrates Bitcoin’s increasing role as a corporate treasury asset. In 2025, Strategy’s Bitcoin holdings yielded 27.8%,

underscoring the potential for significant long-term returns

, a point used by supporters of the bill to advocate for nationwide adoption.

The Bitcoin for America Act is also a response to international competition. Reports indicate that countries such as China and Russia are accumulating Bitcoin, motivating U.S. lawmakers to act to maintain competitiveness. Davidson’s proposal offers a compromise between previous plans, such as Sen. Cynthia Lummis’s (R-WY) $80 billion Bitcoin acquisition proposal and Rep. Byron Donalds’s (R-FL) budget-neutral accumulation approach. By permitting voluntary tax payments in BTC, the bill

seeks to establish a “democratic, market-based” reserve

The Bitcoin Policy Institute, which backs the legislation,

created a projection model indicating

that if just 1% of federal taxes were paid in Bitcoin from 2025 to 2030, the reserve could reach 2.6 million BTC—worth $230 billion at current prices. Nevertheless, the bill faces obstacles, such as regulatory challenges and Bitcoin’s recent price instability. The cryptocurrency has

fallen almost 30% from its August record high

of $126,000, and was trading at $88,769 by late November.

While skeptics may doubt the feasibility of paying taxes with such a volatile asset, advocates argue that the bill’s voluntary approach and emphasis on long-term value help offset short-term risks. As the discussion continues, this proposal signals a broader movement toward integrating digital assets into national policy—potentially transforming the U.S. economic landscape in the digital era.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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