Washington Takes Its Biggest Step Yet Toward a Permanent Bitcoin Reserve

TLDR

• The House Financial Services Committee passed the American Reserve Modernization Act (ARMA) in a 28-21 vote
• The bill would lock up federally held Bitcoin for a minimum of 20 years
• The US government currently holds an estimated 324,527 Bitcoin worth around $24.7 billion
• The bill requires quarterly proof-of-reserve reports and third-party audits for transparency
• It still needs to pass the full House and Senate before becoming law

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US lawmakers moved forward on Wednesday with a bill that would turn President Donald Trump’s Bitcoin reserve executive order into permanent law.

BREAKING: 🇺🇸 US House committee PASSES the Strategic Bitcoin Reserve bill.

The bill would lock government held Bitcoin in a federal reserve for at least 20 years and require regular audits of US Bitcoin holdings. pic.twitter.com/YbiOzeBVfe

— Bull Theory (@BullTheoryio) September 16, 2026

The House Financial Services Committee passed the American Reserve Modernization Act of 2026 in a 28-21 vote. The bill was introduced by Representative Nicholas Begich back in May.

What the Bill Would Do

The legislation would create a Strategic Bitcoin Reserve and a separate Digital Asset Stockpile inside the Department of the Treasury. Both would hold digital assets acquired through criminal or civil forfeiture.

Under the bill, Bitcoin held in the federal reserve could not be sold for at least 20 years. That is a long-term commitment for any government asset.

The US government currently holds an estimated 324,527 Bitcoin, valued at around $24.7 billion, according to Arkham Intelligence.

The bill also requires all federal agencies to report every digital asset they hold. Transparency measures include quarterly proof-of-reserve reports and third-party audits.

It would also direct a study into budget-neutral ways to grow the reserve without raising costs to taxpayers. States would also be allowed to store their Bitcoin with the Federal Reserve under the bill.

The legislation affirms the right of private citizens to hold and control their own Bitcoin. It describes control of private keys as a matter of financial sovereignty and personal liberty.

Support and Opposition

Representative Bryan Steil backed the bill, saying it would increase reserve strength and help reduce the deficit. He argued the US must modernize its reserves to stay competitive globally.

Bitcoin Policy Institute executive director Connor Brown called the committee vote a historic step for Bitcoin policy.

Not everyone agreed. Representative Bill Foster opposed the bill, calling Bitcoin too risky and volatile to be a sound government investment.

“I don’t think anyone believes that bitcoin is critical to the U.S. economy,” Foster said during the session.

The bill’s origins go back further. Republicans Begich and Senator Cynthia Lummis first introduced an earlier version called the BITCOIN Act more than a year ago.

What Happens Next

Trump’s original executive order in 2025 established the reserve using Bitcoin already owned by the government through forfeitures. He also directed the Treasury and Commerce departments to find budget-neutral strategies for acquiring more.

Questions were raised in July over whether the Treasury can legally manage the reserve, according to Bloomberg.

The committee vote clears one hurdle, but the bill still needs to pass the full House and Senate before it can reach the president’s desk for signature.