Bitcoin (BTC) influencer Pierre Rochard has called on lawmakers to prevent the sale of more than $ 1.6 billion worth of confiscated bitcoins, and instead suggested placing the confiscated coins in a strategic BTC reserve.

Rochard, the bitcoin fanatic behind the recent general ether supply (ETH) controversy, wants lawmakers to draft and pass a bill that would amend the Judicial Branch Act of 1789 to allow the U.S. Marshall Service to preserve what bitcoin has. has gained. On it.

In a blog post published on December 16, Rochard warned that 69,370 bitcoins would be auctioned off by the IRS from an alleged hacker on the Silk Road, stating that a US law firm has filed a civil complaint over the BTC seizure.

Speaking to Cointelegraph, Rochard emphasized the “urgent” need to update the legislation and stressed that he expects the US Marshal to win the seizure case and auction the bitcoin “within the next six months.”

“We have to pass this law very quickly to stop the auction,” he said.

In his blog, Rochard emphasized that previous auctions, which had more than 144,000 bitcoins in 2014 and 2015, brought in only $ 122 million, while today more than $ 3.32 billion could be obtained for cryptocurrency.

“The fast auction sale of bitcoins was, in my opinion, a big advantage, a mistake.”
While the coins confiscated in November are now worth $ 1.6 billion, Rochard suggests the United States will benefit more by keeping bitcoins in the longer term and urges lawmakers to give Congress “time to consider selling this unique asset.” … “”

The Federal Reserve can create an unlimited amount of US dollars, which represents the proceeds from the auction. Bitcoins cannot be created from scratch and are limited in quantity. […] Having a large strategic supply of bitcoins can be critical to our security nation. ”
Rochard told Cointelegraph that Bitcoin will soon play a “decisive” role in the treasury of national governments and predicted that “we will see governments over the next decade develop large public wealth funds from Bitcoin.”

“If the United States wants to maintain its leadership, both financially and science and technology, we must create a federal bitcoin reserve fund,” he said, adding:

“First of all, I get coins in them, but we will add that reserve as we go.”

Source: CoinTelegraph