Congressman Nick Begich said he plans to reintroduce legislation in the coming weeks to create a strategic Bitcoin reserve. The proposal would place Bitcoin into the same category as national reserve assets and set a framework for how the government handles it.
The bill, which was previously called the BITCOIN Act, would now be renamed the American Reserves Modernization Act (ARMA) after talks with the House Financial Services Committee. The change is meant to make the goal clearer and bring more lawmakers on board.
The revised proposal suggests that the United States could acquire up to one million Bitcoin over five years using budget-neutral methods. It also calls for identifying Bitcoin already held by government agencies and placing it under proper custody within a controlled system.
The bill includes language stating that individuals should have full control over their Bitcoin and digital assets, recognizing private key ownership as part of financial sovereignty, privacy, and personal freedom in the digital age.
He also said government-held Bitcoin should be properly managed and stored in line with its reserve status.
Source: X.com
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