Rep. Nick Begich announced plans to reintroduce legislation establishing a strategic bitcoin reserve in the United States within the next few weeks, speaking at the Bitcoin2026 conference in Las Vegas.
A new name, same mission
The bill, previously known as the BITCOIN Act, will be rebranded as the American Reserves Modernization Act (ARMA) following discussions with the House Financial Services Committee aimed at broadening support among lawmakers.
Begich explained the reasoning behind the rename:
“Why the renaming — because it’s so important for people both in Congress and across the nation to understand what we’re actually trying to do. We’re trying to make sure that bitcoin is treated like the reserve asset that it is.”
Building on Trump’s executive order
Last year, Begich reintroduced the BITCOIN Act alongside Sen. Cynthia Lummis.
If passed, ARMA would establish bitcoin as a strategic reserve asset, building upon President Trump’s executive order to create permanent bitcoin holdings similar to the country’s gold reserves.
The original bill included language for acquiring one million bitcoin over five years using budget-neutral strategies.
Begich said the updated bill would require bitcoin to be held for a long period of time, adding:
“It allows us to go out into those government agencies, identify where bitcoin is currently being held and custody that bitcoin in a responsible manner consistent with its reserve status.”
Locking in gains before the next administration
Begich framed the urgency around political uncertainty, warning that future administrations may not share the same stance on bitcoin.
He said:
“We don’t know what the next administration is going to be like. What is their stance going to be on bitcoin and other digital assets? You want to take the opportunity when you have it to lock in the gains that you experienced under one administration or another, and that’s where Congress can really act.”
Offices for Begich and Lummis did not immediately respond to a request for comment about potential changes to the bill.
