> ## Documentation Index
> Fetch the complete documentation index at: https://docs.accumulate.supply/llms.txt
> Use this file to discover all available pages before exploring further.

# Treasury and Bitcoin Strategy

> Accumulate Bitcoin. Hold it forever. Nothing else.

The treasury exists for one purpose only: **to hold Bitcoin accumulated by the protocol**.

## Bitcoin Accumulation

Bitcoin is acquired exclusively through protocol fee routing. There are no manual purchases, external deposits, or discretionary actions.

<Note>
  For onchain execution, Accumulate uses **WBTC** as the Bitcoin representation.
  All accumulation occurs through WBTC.
</Note>

## Treasury Rules

<Card title="Permanent Hold Policy" icon="vault">
  Once Bitcoin enters the treasury, it is **permanently held**.
</Card>

### What the Treasury Does NOT Do

<AccordionGroup>
  <Accordion title="No Selling" icon="ban">
    Treasury Bitcoin is never sold, regardless of market conditions or protocol
    needs.
  </Accordion>

  <Accordion title="No Swapping" icon="arrow-right-arrow-left">
    Bitcoin is not converted to other assets or rotated based on market
    conditions.
  </Accordion>

  <Accordion title="No Lending" icon="hand-holding-dollar">
    Treasury assets are not lent out or used as collateral in external
    protocols.
  </Accordion>

  <Accordion title="No Staking" icon="coins">
    Bitcoin is not staked, deployed, or used to generate yield.
  </Accordion>
</AccordionGroup>

<Warning>
  These rules are enforced at the protocol level, not through governance or
  discretion.
</Warning>

## Custody and Visibility

WBTC is held in a dedicated treasury address that is **publicly visible and fully verifiable onchain**.

The treasury does not interact with external protocols as part of normal operation.

<Card title="View Treasury Address" icon="magnifying-glass" href="#">
  Monitor all treasury holdings in real-time (Coming Soon)
</Card>

## Separation From \$ACCU

<Note>
  Treasury assets do **not** back, collateralize, or guarantee \$ACCU. There is
  no redemption or conversion mechanism.
</Note>

The treasury exists to accumulate Bitcoin, not to support token pricing.

***

## The Strategy Is Fixed

<Card title="The Only Rule" icon="bitcoin" color="#f7931a">
  **Bitcoin is accumulated and held, forever.**
</Card>

<CardGroup cols={2}>
  <Card title="Tokenomics" icon="chart-line" href="/protocol/tokenomics">
    See how fees fuel Bitcoin accumulation
  </Card>

  <Card title="Governance" icon="gavel" href="/governance/governance-and-control">
    Understand what can and cannot be changed
  </Card>
</CardGroup>