Written by: Micah Zimmerman
Compiled by: AididiaoJP, Foresight News
On May 21, U.S. Representative Nick Begitch (Republican-Alaska) formally introduced the American Reserve Modernization Act (ARMA), which aims to transform President Trump's March 2025 executive order on strategic Bitcoin reserves into a codified law with long-term legal force, providing a solid foundation for the establishment of a permanent strategic Bitcoin reserve in the United States.
The bill has garnered bipartisan support and is currently being co-sponsored by more than a dozen members of Congress. It would place the Treasury Department in charge of managing the Bitcoin reserve, while also establishing a separate digital asset reserve for other federally held crypto assets besides Bitcoin. Begitch directly draws a parallel between Bitcoin and gold, arguing that the market has clearly recognized them as the dominant store of value in their respective asset classes.
In an interview with Fox Business, he stated, "Look at gold, it's the dominant precious metal reserve asset. And Bitcoin accounts for about 60% of the total market capitalization of the entire cryptocurrency market. The market has made its choice; both gold and Bitcoin are the primary store of value in their respective asset classes."
The ARMA Act is an upgraded version of the previous BITCOIN Act. In March 2025, Begitch and Wyoming Senator Cynthia Loomis jointly introduced the legislation. The new bill would authorize the Treasury Department to acquire up to 200,000 Bitcoins annually over five years, with a final goal of accumulating 1 million Bitcoins—approximately 5% of the total global Bitcoin supply. All Bitcoins held would be locked for at least 20 years and could not be sold.
Currently, the U.S. government holds approximately 328,000 bitcoins, primarily from seizures by law enforcement, including assets recovered in the Silk Road case and the 2022 Bitfinex hack. These bitcoins currently lack a unified strategic management plan.
Co-sponsor Pat Harrigan of North Carolina emphasized the urgency of the issue: "The U.S. government already holds billions of dollars worth of confiscated Bitcoin without a coherent governance strategy, and this must change."
The bill's introduction comes at the height of a wave of crypto-friendly legislation in Washington. On May 13, the Senate Banking Committee passed the Digital Asset Markets Clarity Act by a bipartisan vote of 15-9, paving the way for a regulatory framework for the crypto industry. Senator Loomis indicated that the bill could reach a full Senate vote in mid-June, although she acknowledged that this timeline might be somewhat optimistic.
Meanwhile, the Treasury Department is intensifying its crackdown on illicit financial activities related to cryptocurrencies. As part of Operation Economic Fury, the U.S. had seized nearly $500 million in Iranian-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 the specific operational details of the strategic Bitcoin reserve will be officially announced soon, and a senior official revealed that major legal obstacles have been cleared.
