Reps. Nick Begich (R-AK) and Jared Golden (D-ME) filed the American Reserve Modernization Act this month with more than 20 co-sponsors. The bill creates a Strategic Bitcoin Reserve under Treasury oversight that couldn't be sold, swapped, or auctioned for 20 years. It signals a major shift in how the government would treat Bitcoin if the legislation becomes law.
20-Year Lock Period
The government can't touch reserve Bitcoin for two decades. No sales or dispositions are allowed during this mandatory lock-up. After 2026, Treasury could recommend selling up to 10 percent every two years. But Congress must review each proposed sale.
No Borrowing for Bitcoin
The bill blocks new borrowing, taxes, or deficit spending to buy Bitcoin. Treasury and Commerce have six months to find budget-neutral ways to fund the reserve. They'll study converting existing non-Bitcoin assets and revaluing gold certificates. Congress insists the government can't take on new debt for crypto.
State Participation Option
States may voluntarily store their Bitcoin in segregated Treasury accounts. The legislation explicitly forbids seizing privately held Bitcoin. This addresses longstanding fears about government overreach in the crypto space. It's a clear boundary the bill draws.
Oversight Requirements
Quarterly cryptographic attestations must prove the reserve's holdings. Independent third-party audits and Comptroller General reviews will monitor compliance. The government must verify holdings regularly under the new rules. This creates a structured audit framework unlike current practices.
Treasury and Commerce have until mid-November to report their findings on budget-neutral acquisition methods. The deadline gives lawmakers concrete benchmarks to track progress.
