Rep. Thomas Massie's long-shot bid to abolish the Federal Reserve is getting a second look from the Bitcoin community. The Kentucky Republican introduced the Federal Reserve Board Abolition Act (H.R. 1846) back in March 2025, but the bill has resurfaced in online chatter this week as crypto advocates latch onto its ideological roots. Massie has explicitly cited The Bitcoin Standard — the 2018 book that frames Bitcoin as a modern extension of Austrian economics — as a key influence on his push to dismantle the U.S. central bank.
The Bitcoin Standard Connection
Massie's nod to The Bitcoin Standard isn't just a footnote. The book, written by Saifedean Ammous, has become a kind of foundational text for Bitcoiners who see the cryptocurrency as a hedge against fiat money and central bank manipulation. By name-checking it, Massie ties his legislative effort directly to the hard-money, anti-inflation arguments that drive much of Bitcoin's political identity. The bill itself doesn't mention Bitcoin, but the intellectual lineage is clear: abolish the Fed, let sound money — whether gold or Bitcoin — emerge naturally.
Long Odds, Loud Signal
Nobody expects H.R. 1846 to become law. The Fed is woven into the fabric of U.S. finance — from monetary policy to bank regulation to payment systems — and a full abolition would require rewriting decades of statutes. Even sympathetic lawmakers treat the bill as a statement piece. But in a crypto world hungry for political validation, symbolic legislation can shape the conversation. The bill forces mainstream journalists and Hill staffers to engage with ideas like seigniorage, fractional reserves, and the case for an alternative monetary system. That's a win for the narrative, even if the legislative scoreboard stays empty.
No Price Impact Expected
This is not the kind of news that moves Bitcoin's price. The bill has zero chance of passing this session, and traders know it. The relevance is entirely cultural: a U.S. congressman publicly endorsing a Bitcoin-aligned worldview gives the community a talking point. It also feeds into the broader anti-CBDC, anti-digital-dollar sentiment that has animated part of the crypto electorate. Think of it as a rhetorical tool, not a policy lever.
What Happens Now
The bill was referred to the House Financial Services Committee after its introduction last year. It has not received a hearing, and no vote is scheduled. Massie's office hasn't issued a new statement this week, and the renewed attention appears to be organic — driven by Bitcoin podcasts and Twitter threads rather than a fresh legislative push. Unless the committee chair decides to hold a symbolic markup, H.R. 1846 will likely sit in limbo until the end of the 119th Congress. But the ideas inside it will keep circulating.
