U.S. Representative Nick Begich (Republican, Alaska) formally introduced the American Reserve Modernization Act (ARMA) on May 21, aiming to codify President Trump’s March 2025 Strategic Bitcoin Reserve Executive Order into permanent legislation, establishing a solid legal foundation for the United States to build a permanent strategic Bitcoin reserve.

The bill has garnered bipartisan support and currently counts over a dozen co-sponsors in Congress. It will empower the U.S. Department of the Treasury to manage the Bitcoin reserve, while also establishing a separate digital asset custodial framework for other federally held cryptocurrencies beyond Bitcoin. Begich draws a direct analogy between Bitcoin and gold, asserting that markets have already recognized both as the dominant store-of-value assets within their respective categories.

In an interview with Fox Business, he stated: “Look at gold—it’s the dominant precious metal reserve asset. And Bitcoin holds roughly 60% of the total market capitalization across the entire cryptocurrency ecosystem. The market has made its choice: whether it’s gold or Bitcoin, each stands as the primary store-of-value instrument within its asset class.”

The ARMA bill represents an evolution from the earlier BITCOIN Act. In March 2025, Begich had previously co-introduced related legislation with Senator Cynthia Lummis of Wyoming. The new bill authorizes the Treasury to acquire up to 200,000 Bitcoin annually over a five-year period, with a long-term goal of accumulating one million Bitcoin—approximately 5% of the global Bitcoin supply. All held Bitcoin will be locked for a minimum of 20 years, prohibiting any sale.

Currently, the U.S. government holds approximately 328,000 Bitcoin, primarily seized through law enforcement actions, including assets recovered from the Silk Road case and the 2022 Bitfinex hack. These holdings currently lack a unified strategic management framework.

Co-sponsor Representative Pat Haggard of North Carolina emphasized the urgency: “The U.S. government already holds billions in seized Bitcoin without a coherent management strategy—this situation must change.”

The introduction of this bill coincides with a peak in Washington’s crypto-friendly legislative momentum. On May 13, the Senate Banking Committee passed the Digital Asset Market Clarity Act by a bipartisan vote of 15–9, paving the way for a clearer regulatory framework for the crypto industry. Senator Lummis indicated the bill may reach full Senate floor consideration by mid-June, though she acknowledged this timeline could be optimistic.

Meanwhile, the Treasury is intensifying efforts against illicit financial activities involving cryptocurrencies. Under Operation Economic Fury, the U.S. has seized nearly $500 million in Iran-linked crypto assets as of the end of April, further underscoring the necessity for a comprehensive digital asset management strategy.

The White House has also signaled forthcoming official details regarding the operational mechanics of the strategic Bitcoin reserve, with a senior official noting that major legal obstacles have already been cleared.

By: Micah Zimmerman, Translated by: AididiaoJP, Foresight News

Original: DeepTech Flow