The legislation was sponsored by Representative Nick Begich and co-sponsored by 15 other members of Congress.
Crypto News
US lawmakers introduced the American Reserve Modernization Act (ARMA) of 2026 on May 21, a bipartisan bill that would direct the federal government to acquire up to 1 million Bitcoin (BTC) over a five-year period. The legislation was sponsored by Representative Nick Begich and co-sponsored by 15 other members of Congress.
The bill would establish a Strategic Bitcoin Reserve under the management of the US Treasury Department, alongside a separate Digital Asset Stockpile for other federally held cryptocurrencies. All Bitcoin held under the reserve would be required to remain in government custody for a minimum of 20 years, unless sold to reduce the national debt.
ARMA builds on earlier legislative efforts, including the BITCOIN Act, which was first introduced in July 2024 and updated in March 2025. Patrick Witt, of the President's Council of Advisors for Digital Assets, described ARMA as "Version 2" of the BITCOIN Act in an interview published May 17, adding that the White House has spent considerable time reviewing the legal framework for a Bitcoin reserve. "It's a breakthrough as far as getting everything in place, legally sound, properly safeguarding the assets," Witt said.
The US currently holds 328,372 BTC, valued at more than $25.5 billion, making it the largest nation-state holder of the asset. Those holdings were accumulated primarily through court-ordered forfeitures, and portions have been sold through those same proceedings.
"The US is already one of the largest holders of Bitcoin in the world. But Congress has never set a federal policy on what to do with that asset," said Representative Jared Golden, one of the bill's co-sponsors. The legislation would also forbid the use of taxpayer funds for acquisitions, requiring any purchases to be made through budget-neutral strategies.
Representative Mike Carey argued that codifying a federal Bitcoin policy could strengthen the country's long-term economic position. Strive CEO Matt Cole said ARMA is the "single most important crypto legislation" that could come out of Washington.
Under the bill, quarterly proof-of-reserve reports and independent third-party audits would be required for the Bitcoin reserve, with results made publicly available. ARMA also includes a provision affirming individuals' right to own and self-custody digital assets, framed as a federal protection of digital property rights.
The national debt exceeded $39 trillion as of Wednesday. The bill's 20-year holding requirement is tied specifically to that figure, with an exception permitting sales only if the proceeds are used directly to reduce the national debt.
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