Authored by Brayden Lindrea via CoinTelegraph.com,
US lawmakers have renewed efforts to codify a US strategic Bitcoin reserve with a new bipartisan bill on Thursday that seeks to acquire around 1 million Bitcoin over five years.
The American Reserve Modernization Act of 2026 would establish a Strategic Bitcoin (BTC) Reserve and Digital Asset Stockpile for other federally held cryptocurrencies, which would be held by the US Treasury Department,saidthe bill’s sponsor, Representative Nick Begich.
In an interview on Sunday, Patrick Witt, of the President’s Council of Advisors for Digital Assets,referredto ARMA as “Version 2” of the BITCOIN Act and said the White House has spent considerable time examining the legal implications of a Bitcoin reserve.
The push for a federal policy comes as the US currently holds 328,372 Bitcoin worth more than $25.5 billion — themost of any nation-state— but has sold portions of those holdings through court-ordered actions over the years.
“The US is already one of the largest holders of Bitcoin in the world. But Congress has never set a federal policy on what to do with that asset,”said US Representative Jared Golden, one of the 16 co-sponsors of the bill.
Under ARMA, Bitcoin must be held for a minimum of 20 years unless it is sold to reduce America’s national debt, which topped $39 trillion on Wednesday.
Like the BITCOIN Act, ARMA also seeks to acquire up to 1 million Bitcoin over five years through budget-neutral strategies, meaning it would avoid using taxpayer money.
US Representative Mike Carey argued that as digital assets continue to grow in importance, the bill could strengthen America’s long-term economic position and help keep it “competitive on the world stage.”
Strive CEO and chairman Matt ColesaidARMA is the “single most important crypto legislation” that could come out of Washington DC.
Source: ZeroHedge News
