Gate News message, April 28 — U.S. Representative Nick Begich announced plans to rebrand the Bitcoin Act as the American Reserves Modernization Act (ARMA) at the 2026 Bitcoin Conference in Las Vegas on April 27. The move aims to rally congressional support for establishing a national strategic Bitcoin reserve modeled after gold reserves.
ARMA maintains the same core objectives as the original Bitcoin Act, co-introduced with Senator Cynthia Lummis last year. The bill proposes purchasing 200,000 BTC annually for five years, with the acquired coins held as non-disposable assets for two decades unless sold to reduce federal debt. Purchases would be funded through the Federal Reserve’s discretionary surplus or profits from gold accumulation, shifting away from the previous practice of acquiring BTC from seized criminal assets or cryptocurrency penalties. All coins would be stored in secure cold storage facilities nationwide.
Crucially, the bill protects individuals’ custody rights over their crypto wallets, preventing government interference with private keys. The legislation is currently in the Senate Banking Committee, with a markup scheduled for May. If approved, the U.S. Treasury is expected to begin its first official Bitcoin purchase in Q4 2026.
The U.S. government currently holds approximately 328,372 BTC, valued at roughly $25.4 billion at current BTC prices, making it the world’s largest sovereign Bitcoin holder. China holds about 190,000 BTC and the UK about 61,000 BTC.
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