Author: Micah Zimmerman
Compiled by: AididiaoJP, Foresight News
U.S. Congressman Nick Begich (Republican-Alaska) officially introduced the "American Reserve Modernization Act (ARMA)" on May 21st, aiming to convert President Trump's strategic Bitcoin reserve executive order signed in March 2025 into permanent statute, providing a solid legal foundation for the United States to establish a permanent strategic Bitcoin reserve.
The bill has already received bipartisan support, with over a dozen members of Congress currently listed as co-sponsors. It would authorize the Treasury Department to manage the Bitcoin reserve, while also establishing a separate digital asset reserve for other federally held crypto assets besides Bitcoin. Begich directly compares Bitcoin to gold, arguing that the market has clearly identified them as the dominant stores of value in their respective asset classes.
He stated in an interview with Fox Business: "Look at gold, it's the dominant precious metal reserve asset. Bitcoin accounts for about 60% of the total market capitalization of the entire cryptocurrency market. The market has made its choice; whether it's gold or Bitcoin, they are the primary store of value tools in their respective asset categories."
The ARMA bill is an upgraded version of the previous "BITCOIN Act." In March 2025, Begich co-sponsored related legislation with Wyoming Senator Cynthia Lummis. The new bill would authorize the Treasury to acquire up to 200,000 Bitcoin annually over five years, with the ultimate goal of accumulating 1 million Bitcoin—approximately 5% of the global Bitcoin supply. All held Bitcoin would be locked for at least 20 years and not sold.
Currently, the U.S. government holds approximately 328,000 Bitcoin, primarily from law enforcement seizures, including assets recovered from the Silk Road case and the 2022 Bitfinex hack. These Bitcoin currently lack a unified strategic management plan.
Co-sponsor and North Carolina Representative Pat Harrigan emphasized the urgency of this issue: "The U.S. government is already sitting on confiscated Bitcoin worth billions of dollars without a coherent management strategy. This must change."
The introduction of this bill comes at the peak of a wave of crypto-friendly legislation in Washington. On May 13th, the Senate Banking Committee passed the "Digital Asset Market Clarity Act" with a bipartisan vote of 15-9, paving the way for a regulatory framework for the crypto industry. Senator Lummis stated the bill could reach the full Senate for a vote by mid-June, although she acknowledged that timeline might be optimistic.
Meanwhile, the Treasury Department is intensifying its crackdown on crypto-related illicit financial activities. As part of "Operation Economic Wrath," the United States had seized nearly $500 million in Iran-related crypto assets by the end of April, further highlighting the need for the government to develop a comprehensive digital asset management strategy.
The White House has also signaled that specific operational details for the strategic Bitcoin reserve are soon to be formally announced, with a senior official indicating that major legal hurdles have been cleared.
