PANews reported on June 5 that, according to the text of HR8957 published on the U.S. Congressional website, Representative Nick Begich proposed the "American Reserve Modernization Act of 2026" in May 2026 , which aims to formally establish a U.S. "Strategic Bitcoin Reserve" and a "Digital Asset Stockpile".

The core contents of the bill include:

* The Treasury Department must establish a strategic Bitcoin reserve within 180 days to centrally manage Bitcoin held by the federal government;

All Bitcoins acquired through criminal confiscation, civil penalties, or other means will be included in reserves.

Non-Bitcoin digital assets will be uniformly included in the digital asset reserve and can be sold to increase Bitcoin holdings or repay government bonds.

* Establish an on-chain Proof of Reserve system to publicly disclose holdings and key control proofs quarterly;

* All Bitcoins included in the reserve shall, in principle, be held for at least 20 years and shall not be sold, pledged, or transferred during the period.

* Federal agencies must declare their digital assets within 60 days, and these assets will eventually be transferred to a unified reserve system;

* Allow states to voluntarily deposit state-owned Bitcoin into a separate account in the Federal Strategic Bitcoin Reserve;

* Explicitly protects individuals' self-custody rights and prohibits the interpretation of the bill as authorizing the government to confiscate legally held Bitcoin.

It is worth noting that the bill does not directly authorize the federal government to borrow heavily to purchase Bitcoin. Instead, it requires the Treasury Department and the Commerce Department to study "budget-neutral" acquisition plans, including acquiring Bitcoin through existing digital assets, forfeiture proceeds, gold certificate revaluation, Federal Reserve surplus payments, and tax payments. It also explicitly prohibits purchasing Bitcoin through new borrowing, tax increases, or deficit spending.

If the bill is ultimately passed, the United States will establish a national-level Bitcoin reserve system for the first time through legislation, and include Bitcoin alongside gold reserves in the framework of long-term strategic assets.

Spot gold plunged more than 6% intraday, with the price of gold jewelry falling to 1484 yuan per gram.

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