US House Financial Services Committee to Vote on Federal Bitcoin Reserve Bill

The American Reserve Modernization Act (ARMA) proposes to codify the United States’ Strategic Bitcoin Reserve in law, moving the holding from an executive order to a statutory asset.

Bill Overview

• H.R. 8957 would consolidate government‑held Bitcoin at the Treasury and create a formal Strategic Bitcoin Reserve alongside a Digital Asset Stockpile for non‑Bitcoin assets.
• An amendment requires a minimum 20‑year holding period for Bitcoin placed in the reserve.
• The bill mandates an annual public proof‑of‑reserve report, verified by an independent third‑party auditor.
• A 180‑day study must assess budget‑neutral methods for acquiring additional Bitcoin.
• The proposal does not authorize borrowing, new taxes, deficit spending, or pledging government assets as collateral for purchases.

Committee Context

The bill will be considered by the House Financial Services Committee on September 16. It has 23 cosponsors: 22 Republicans and one Democrat, Rep. Jared Golden of Maine, who does not sit on the committee. Six Republican committee members back the bill; none of the 23 Democratic committee members do.

Bipartisan Test

The committee holds a Republican majority (30‑23). The vote will reveal whether any Democrats join the Republicans in supporting a federal Bitcoin reserve, extending the bipartisan coalition that previously backed the CLARITY Act for private‑market crypto regulation.

Potential Impact

• If passed, the reserve would be protected from reversal by a future president, requiring congressional action to change it.
• Current estimates place government‑linked Bitcoin holdings at roughly 324,000‑328,000 BTC, valued at about $26 billion at the current price of ~$79,000 per BTC.
• Bitcoin’s price volatility means the reserve’s value could swing widely, a central point of debate.

Broader Debate

Supporters argue that Bitcoin exposure could provide upside as federal debt rises, while opponents cite volatility and concerns about liquidity, safety, and fiscal governance. Similar reservations have been voiced by international officials, including the European Central Bank and the World Bank.