The U.S. House Financial Services Committee voted 28-21 to pass the American Reserve Modernization Act of 2026 (H.R. 8957), marking a major step toward establishing a federal Strategic Bitcoin Reserve. The bill codifies a 2025 executive order by Donald Trump, locking up the government's estimated $24.7 billion Bitcoin stash for at least 20 years. While proponents like Representative Nicholas Begich argue it secures fragmented federal holdings, opponents like Representative Bill Foster warn against government exposure to highly volatile digital assets.
House committee passage of ARMA
- ▪Before the final vote, the House Financial Services Committee adopted a substitute amendment offered by Representative Bryan Steil that reshaped the bill's core provisions.
- ▪The American Reserve Modernization Act of 2026 was introduced on May 21, 2026, by Representative Nicholas Begich and co-led by Representative Jared Golden.
- ▪The U.S. House Financial Services Committee voted 28 to 21 on September 16, 2026, to approve the American Reserve Modernization Act of 2026 (H.R. 8957).
- ▪Representative Bill Foster opposed the bill, stating that Bitcoin's volatility and risk profile make it an unsuitable investment for government portfolios.
Strategic Bitcoin Reserve structure
- ▪The bill directs the Treasury and Commerce Departments to study budget-neutral acquisition methods to expand the reserve without new taxes, borrowing, or deficit spending.
- ▪The legislation codifies individual rights to Bitcoin ownership and self-custody, defining control over private keys as a basic principle of financial sovereignty.
- ▪The bill codifies a policy established by President Donald Trump's Executive Order 14233, signed on March 6, 2025, which directed agencies to retain forfeited Bitcoin.
- ▪The American Reserve Modernization Act of 2026 would establish a Treasury-managed Strategic Bitcoin Reserve to hold Bitcoin obtained through criminal and civil forfeitures.
20-year holding requirement
- ▪The American Reserve Modernization Act of 2026 mandates a minimum 20-year holding period for all Bitcoin placed in the Strategic Bitcoin Reserve.
- ▪The adopted Steil substitute pegs the 20-year lockup clock to the date of enactment for all reserve Bitcoin, rather than starting a new clock for each subsequent deposit.
- ▪The Steil substitute allows a controlled off-ramp after 20 years, permitting the Treasury to recommend selling up to 10 percent of reserve Bitcoin in any two-year window.
Quarterly proof-of-reserve audits
- ▪The adopted Steil substitute softened the reporting cadence from quarterly cryptographic attestations to an annual public report verified by an independent auditor.
- ▪The original draft of the bill required quarterly cryptographic proof-of-reserve audits and third-party verifications to ensure transparency.
Federal Bitcoin holdings inventory
- ▪The U.S. government is estimated to hold between 198,000 and 324,527 Bitcoin, valued at approximately $24.7 billion, though the Treasury has not published a reconciled balance sheet.
- ▪Section 7 of the Steil substitute requires all federal agencies to inventory their digital-asset holdings within 60 days of the bill's enactment.
Digital Asset Stockpile provisions
- ▪Under the Steil substitute, the Treasury may dispose of forked and airdropped assets after one year, retaining the chain with the higher market capitalization.
- ▪The bill establishes a separate Digital Asset Stockpile within the Treasury Department to manage non-Bitcoin digital assets acquired through forfeitures.
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