Legislation to establish a strategic bitcoin reserve in the United States is set to be reintroduced in the next few weeks, according to one of the bill’s authors, Rep. Nick Begich.
Speaking on a panel Monday at the Bitcoin2026 conference in Las Vegas, Begich said he plans to revive his “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act,” previously known as the BITCOIN Act. The bill will be rebranded as the American Reserves Modernization Act (ARMA), following discussions with the House Financial Services Committee aimed at broadening support among lawmakers.
“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,” the Alaska Republican said. “We’re trying to make sure that bitcoin is treated like the reserve asset that it is.”
Last year, Begich reintroduced the BITCOIN Act with Sen. Cynthia Lummis, R-Wyo. If passed, the bill would establish bitcoin (BTC) as a strategic reserve asset, building upon President Donald Trump’s executive order to create permanent bitcoin holdings similar to the country’s gold reserves. It also included language for acquiring one million bitcoin over five years using “budget-neutral strategies.”
Begich said the bill has some updates, but didn’t specify, adding that it would require bitcoin to be held “for a long period of time.”
“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,” he added.
Offices for Begich and Lummis did not immediately respond to a request for comment about potential changes to the bill.
Begich said his bill could help cement a strategic bitcoin reserve.
“We don’t know what the next administration is going to be like,” he said. “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.”
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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