Rep. Nick Begich (R-Alaska) introduced the American Reserve Modernization Act on Thursday, aiming to codify a U.S. strategic Bitcoin reserve that would hold up to 1 million BTC — roughly 5% of global supply. The bill builds on President Trump's March 2025 executive order and already has over a dozen bipartisan co-sponsors, including Sen. Cynthia Lummis and Rep. Pat Harrigan.
What the bill does
The Treasury Department would oversee the reserve, with authority to acquire up to 200,000 BTC annually for five years. Holdings would be locked for at least 20 years — no selling, no trading. The U.S. already holds approximately 328,372 Bitcoin from law enforcement seizures, including Silk Road and Bitfinex hack recoveries. That stash would form the core of the reserve under the new framework.
Bipartisan momentum on Capitol Hill
The bill's co-sponsor list spans both parties, and it arrives just over a week after the Senate Banking Committee passed the Digital Asset Market Clarity Act in a 15-9 bipartisan vote on May 13, with two Democrats crossing the aisle. Begich has compared Bitcoin to gold as a dominant store of value, noting Bitcoin now represents roughly 60% of the crypto market cap. The legislative push signals that crypto policy isn't just a GOP talking point anymore.
Enforcement and next steps
Meanwhile, the Treasury's enforcement arm hasn't been idle. Operation Economic Fury led to the seizure of nearly $500 million in Iranian cryptocurrency assets by late April, underscoring the administration's willingness to use crypto-related tools for sanctions enforcement. On the reserve itself, the White House has indicated a formal announcement on its operational status is imminent once remaining legal hurdles are resolved.
