# Bitcoin at $76,587 after Fed hike as US bitcoin reserve bill clears House panel

Source: Searchable (https://searchable.pk/news/crypto/bitcoin-price-fed-hike-us-bitcoin-reserve-bill-house-committee)
Type: News article
Author: Searchable Editorial
Published: 17 Sept 2026
Updated: 17 Sept 2026
Retrieved: 17 Sept 2026

> Bitcoin is worth about Rs 21.25 million this morning. A US committee voted 28-21 to put the Strategic Bitcoin Reserve into law. What it means for Pakistani holders under the new PVARA rules.

Bitcoin is trading near **$76,587** this morning, up about **1.1%** from yesterday's $75,766 on our [bitcoin price page](/data/btc-usd), after shrugging off the US Federal Reserve's first rate increase since 2023. At today's dollar rate of Rs 277.51, one bitcoin is worth about **Rs 21.25 million**. Ether is at **$2,435**, up 1.6%, or about **Rs 675,800**.

## Two US moves that matter for crypto

**1. A bill to lock in the US bitcoin reserve.** The House Financial Services Committee voted **28 to 21** on Wednesday to advance the **American Reserve Modernization Act of 2026 (H.R. 8957)**, Cointelegraph reported. It would turn President Trump's executive order on a Strategic Bitcoin Reserve into law. The bill would:

- set up a **Strategic Bitcoin Reserve** and a digital asset stockpile inside the US Treasury;
- require bitcoin taken through criminal and civil forfeiture to be held for **at least 20 years**;
- order **quarterly proof-of-reserve reports** and third-party audits;
- study ways to buy more bitcoin without adding to the budget;
- let US states store bitcoin at the Federal Reserve;
- affirm the right to own and self-custody crypto.

The US government holds about **324,527 BTC**, worth roughly $24.8 billion at this morning's price. The bill still needs to pass the full House and the Senate. A separate crypto tax overhaul also cleared the House tax committee **38 to 5**, CoinDesk reported, a day after the Senate sank the Clarity Act market-structure bill.

**2. The Fed hike.** The Fed raised rates by 0.25 points to **3.75% to 4%** and signalled one more rise this year. Bitcoin held near $75,700 right after the decision, CoinDesk reported, and has edged up since. Higher rates usually make riskier assets less attractive, so the calm is notable. Our [Fed explainer](/news/us/us-fed-rate-hike-september-2026-rupee-gold-loans) covers what the hike means for the rupee and loans.

## What it means for Pakistani holders

- **Your rupee value moves with two prices.** A Pakistani holder gains if bitcoin rises or if the rupee weakens. Work out your holding with the [currency converter](/tools/finance/currency-converter) and track [ether](/data/eth-usd) and [bitcoin](/data/btc-usd) daily.
- **Use a platform with a PVARA clearance.** Under the **Virtual Assets Act 2026**, every crypto firm serving Pakistani users had to file for a no-objection certificate with the **Pakistan Virtual Assets Regulatory Authority** by **5 September 2026**. Firms that missed it must stop serving Pakistani users, and operating without one is a criminal offence under Section 70 of the Act, CoinGape reported. Before you deposit, check that your exchange has applied or been cleared.
- **Keep records.** Buy and sell dates, amounts and rupee values will matter when you file your return. The FBR's return deadline for tax year 2026 is **30 September** ([details](/news/economy/tax-return-deadline-is-30-september-lcci-asks-fbr-for-a-months-extension)).

## What to watch this week

1. Whether the reserve bill gets a full House vote before the election recess.
2. US inflation data, which will set the odds of the next Fed hike.
3. Any PVARA list of cleared platforms.

## Frequently asked questions

**What is the bitcoin price in Pakistani rupees today?**

About Rs 21.25 million on the morning of 17 September 2026, with bitcoin near $76,587 and the dollar at Rs 277.51.

## Sources

- US lawmakers advance bill to lock Trump's Bitcoin reserve into law (16 Sep 2026) (Cointelegraph): https://cointelegraph.com/news/us-bitcoin-reserve-bill-passes-house-committee
- Fed raises rates by 25 basis points in first hike since July 2023 (16 Sep 2026) (CoinDesk): https://www.coindesk.com/markets/2026/09/16/fed-raises-rates-by-25-basis-points-in-first-hike-since-july-2023
- U.S. House's tax committee advances crypto tax bill in wake of Clarity Act loss (16 Sep 2026) (CoinDesk): https://www.coindesk.com/policy/2026/09/16/u-s-house-s-tax-committee-advances-crypto-tax-bill-in-wake-of-clarity-act-loss
- Pakistan's PVARA Sept. 5 crypto deadline hits today, register or shut down (5 Sep 2026) (CoinGape): https://coingape.com/pakistans-pvara-sept-5-crypto-deadline-hits-today-register-or-shut-down/

How to cite: "Bitcoin at $76,587 after Fed hike as US bitcoin reserve bill clears House panel", Searchable, 17 Sept 2026, https://searchable.pk/news/crypto/bitcoin-price-fed-hike-us-bitcoin-reserve-bill-house-committee