Bitcoin Strategic Reserve bill heads to US House committee markup vote

A bill to formally establish a US Strategic Bitcoin Reserve just cleared the House Financial Services Committee, moving one step closer to a full floor vote. The American Reserve Modernization Act of 2026, or H.R. 8957, would place the Treasury Department in charge of managing the federal government’s Bitcoin holdings, with a mandatory 20-year holding period with no sales allowed.

The legislation, introduced by Rep. Nick Begich (R-AK) and co-led by Rep. Jared Golden (D-ME), has attracted more than 20 bipartisan cosponsors. A full markup is scheduled for September 16, 2026, which could send it to the entire House for a vote.

What the bill actually does

At its core, ARMA codifies something the federal government has been doing informally since President Trump’s 2025 executive order directing agencies to retain forfeited Bitcoin rather than auction it off. The bill turns that temporary directive into permanent law.

The reserve would primarily hold Bitcoin acquired through federal forfeitures. US agencies currently hold an estimated 328,372 BTC, valued somewhere between $25B and $30B. Under ARMA, that stash gets locked in for two decades. No selling. No swapping.

The bill also creates a separate Digital Asset Stockpile for non-Bitcoin digital assets. Bitcoin gets the strategic reserve treatment. Everything else gets its own bucket.

One provision worth noting: the act explicitly protects privately held Bitcoin. The government cannot seize Bitcoin from citizens to stock its reserve.

Transparency requirements and wash-sale rules

The Treasury would be required to publish quarterly Proof-of-Reserve reports featuring cryptographic attestations of its holdings. Independent audits would supplement those reports.

The bill also extends wash-sale rules to crypto. Currently, these rules prevent stock traders from selling a security at a loss and immediately repurchasing it to claim a tax deduction. Crypto has existed in a gray area where traders could harvest tax losses without the same restrictions. ARMA closes that loophole, treating digital assets more like traditional securities for tax purposes.

Why this matters beyond symbolism

The 20-year holding mandate is particularly significant for market dynamics. Locking 328,372 BTC away for two decades effectively removes roughly 1.5% of Bitcoin’s total 21 million cap from the market for a generation.

Executive orders can be reversed by the next administration. A statutory framework for Bitcoin reserves tells pension funds, sovereign wealth funds, and corporate treasuries that the US government views Bitcoin as a long-term store of value worth managing formally.

The bill’s journey is far from over. Even if the full House passes it, Senate dynamics could slow or reshape the legislation considerably. And the wash-sale provision may attract opposition from crypto industry lobbyists who’ve benefited from the current tax treatment.