Representative Nick Begich, R-Alaska, has introduced the American Reserve Modernization Act (ARMA), landmark legislation aimed at establishing a permanent U.S. strategic bitcoin reserve. Unveiled on a Thursday, the bill seeks to codify President Donald Trump’s March 2025 executive order and provide a robust legal framework for the reserve. ARMA, which has garnered bipartisan support and more than a dozen co-sponsors in Congress, would mandate the Treasury Department to oversee this strategic reserve, while also creating a distinct digital asset stockpile for other federally held cryptocurrencies.

Begich drew a direct parallel between the market's valuation of bitcoin and gold, asserting that both assets have independently emerged as dominant stores of value within their respective classes. He articulated to Fox Business that just as gold stands as the predominant precious metal reserve, bitcoin commands approximately 60% of the entire cryptocurrency market capitalization. This market-driven preference, Begich contends, solidifies bitcoin's role as the primary store of value in the digital asset sphere.

The ARMA legislation expands upon the earlier BITCOIN Act, which Begich initially introduced in March 2025 alongside Senator Cynthia Lummis. The updated measure would empower the Treasury to acquire up to 200,000 BTC annually for a period of five years, with the ultimate goal of accumulating 1 million bitcoin. This target represents roughly 5% of the global bitcoin supply, and all acquired holdings would be locked for a minimum of 20 years. Currently, the U.S. government possesses an estimated 328,372 BTC, accumulated primarily through significant law enforcement seizures, including assets from the Silk Road takedown and the 2022 Bitfinex hack recovery.

Co-sponsor Representative Pat Harrigan, R-N.C., emphasized the critical need for a coherent strategy to manage the existing substantial stockpile of seized bitcoin. He stated that the United States government already holds billions in seized bitcoin without a clear management strategy, a situation that necessitates urgent change. The introduction of ARMA comes amidst a broader surge of crypto-friendly legislative activity across Washington.

This legislative momentum includes the recent passage of the Digital Asset Market Clarity Act by the Senate Banking Committee in a 15-9 bipartisan vote on May 13. This comprehensive regulatory framework for the crypto industry has now advanced to the full Senate floor, with two Democratic Senators, Ruben Gallego of Arizona and Angela Alsobrooks of Maryland, crossing the aisle to support it. Senator Lummis has indicated that a Senate floor vote on the bill could occur by mid-June, albeit acknowledging that this timeline might be optimistic.

Concurrently, the Treasury Department has intensified its efforts against crypto-linked illicit finance. Under Operation Economic Fury, the U.S. successfully seized nearly $500 million in Iranian cryptocurrency assets by late April. These actions further underscore the pressing need for a comprehensive government strategy to effectively manage seized digital assets. Separately, the White House has signaled that a formal announcement regarding the operational status of the strategic bitcoin reserve is imminent, following the clearance of a key legal hurdle.