Rep. Nick Begich, R-Alaska, introduced legislation on Thursday to permanently establish a strategic bitcoin depository, outlining the American Reserve Modernization Act (ARMA) – a bill designed to consolidate President Donald Trump’s March 2025 executive order and give the reserve a strong legal basis.
The measure, which received bipartisan support and more than a dozen co-sponsors in Congress, would put the Treasury Department in charge of overseeing the treasury while creating a separate digital asset pool of government-owned cryptocurrencies other than bitcoin. Begich drew a direct comparison between bitcoin and gold, arguing that the market has already determined both assets as the top stores of value in their respective classes.
“If you look at gold, it’s a safe haven for the precious metal,” Begich told Fox Business. “If you look at bitcoin, it represents about 60% of all the markets of the entire crypto market. So the market has decided, in the case of gold and in the case of bitcoin, this will be the main store of value within this asset class.”
ARMA builds on the previous BITCOIN Act, which was originally introduced by Begich in March 2025 and Seni. Cynthia Lummis. The revised law will authorize the Treasury Department to acquire up to 200,000 BTC per year for five years – targeting a total of one million bitcoins, or about 5% of the global supply – with all holdings locked up for at least 20 years.
The US government currently holds approximately 328,372 BTC collected through confiscation, including proceeds from the Silk Road takeover and the 2022 acquisition of Bitfinex.
US bitcoin management needs to change
Co-sponsor Rep. Pat Harrigan, RN.C., emphasized the urgency of giving that existing stock a strategic home. “The United States government is already holding billions in bitcoin holdings without a coherent strategy to regulate it, and that must change,” Harrigan said.
The introduction of the bill comes amid a broader wave of crypto-friendly legislative push in Washington. The Senate Banking Committee passed the Digital Asset Market Transparency Act by a 15-9 bipartisan vote on May 13, advancing a sweeping regulatory framework for the crypto industry to the full Senate floor.
Two Democrats – Senators Ruben Gallego of Arizona and Angela Alsobrooks of Maryland – crossed paths to support the measure. Sen. Lummis signaled that the bill could reach a Senate vote by mid-June, though he cautioned that the timeline could be optimistic.
The legal crackdown also comes as the Treasury tightens its grip on crypto-linked cryptocurrencies.
Under Operation Economic Fury, the US seized nearly $500 million in Iranian cryptocurrency assets in late April, bolstering calls for a comprehensive government strategy to manage seized digital assets.
The White House has separately signed off on an official announcement on the status of bitcoin’s virtual storage facility, and a senior administration official says a key legal hurdle has been cleared.
