The U.S. House Financial Services Committee is scheduled to consider the American Reserve Modernization Act (H.R. 8957) on September 16, a bill that would formalize a strategic Bitcoin reserve for the United States.
Introduced in May with over 20 co-sponsors, the bill aims to establish a framework for managing government Bitcoin holdings, including assets acquired through criminal investigations and forfeitures. According to sponsor U.S. Representative Nick Begich (R-Alaska), the proposal reflects changing perspectives on global reserve assets.
The bill would require the U.S. to hold Bitcoin for at least 20 years and direct proceeds from future sales toward offsetting national debt. The U.S. government currently holds approximately 328,000 Bitcoin, valued at roughly $25 billion at current market prices.
However, passage faces significant hurdles. Prediction markets have placed the bill's odds of becoming law before 2027 at approximately 6%, down sharply from 60% in December. The tight House and Senate calendar ahead of the November elections has been cited as a major constraint on legislative progress.
The bill's path forward requires approval from the House Financial Services Committee markup, followed by a full House vote before advancing to the Senate and ultimately to the President.
Globally, governments collectively hold about 435,000 Bitcoin, representing roughly 2% of circulating supply. Individual holders account for approximately 66% of Bitcoin in circulation, while businesses hold significantly larger quantities than government entities.
