US lawmakers have advanced a bill that would lock the federal government’s Bitcoin holdings into law, requiring the US Treasury to hold any Bitcoin acquired through civil or criminal forfeiture for 20 years. The American Reserve Modernization Act of 2026 (H.R. 8957) passed the US House Committee on Financial Services in a 28-21 vote on Wednesday.
The bill, introduced by US Representative Nicholas Begich on May 21, establishes a Strategic Bitcoin Reserve and a separate Digital Asset Stockpile within the Department of the Treasury. Those two accounts would hold federally held Bitcoin and other digital assets seized through criminal or civil forfeiture.
What the bill actually locks down
The core provision is the 20-year hold. Under the bill, once Bitcoin enters the federal government’s reserve, it cannot be sold or spent for two decades.
The bill also requires all federal agencies to account for every digital asset they hold or control. Quarterly “proof of reserve” reports and third-party audits are part of the package, along with a study of budget-neutral ways to expand the Strategic Bitcoin Reserve.
States would be allowed to store their Bitcoin in the Federal Reserve under the bill. Begich’s statement cites cybersecurity risks as a concern, though he did not specify which bill provisions address them.
Why Begich pushed it
Begich’s argument is practical and personal. He said the government holds Bitcoin without giving the public a clear count of what it owns. “We cannot allow Bitcoin to be held by the federal government to languish in fragmented and inconsistent custody,” he said. “It poses unacceptable cybersecurity risks and fails to give an adequate accounting of what the federal government actually owns.”
The bill also affirms private ownership and self-custody rights of Bitcoin, describing the control of private keys as “fundamental to the principles of financial sovereignty, privacy, and personal liberty in the digital age.” That language sits alongside the requirement that the government hold Bitcoin for two decades.
Who backs it and who benefits
Connor Brown, executive director of the Bitcoin Policy Institute, called the committee’s vote a “genuinely historic step for Bitcoin policy.” Matt Cole, CEO of Strive, went further in May, calling it “the single most important crypto legislation that can come out of DC.”
Both statements frame the bill’s passage as proof of Bitcoin’s growing political weight. The vote itself is evidence of that weight, but the bill also hands the government a new power: the power to hold Bitcoin for 20 years.
What the vote actually cleared
Committee approval is a hurdle, not a finish line. The bill still needs to pass the full House and Senate before reaching the president’s desk. The vote shows support in the committee, but it does not guarantee the bill becomes law.
The vote count stands on its own: 28 in favor, 21 against.
Who holds the government’s Bitcoin now
The US government is estimated to hold 324,527 Bitcoin, worth $24.7 billion at the time of writing, according to Arkham Intelligence. That figure is a starting point, not a promise. The bill changes who controls that Bitcoin and how long it stays locked up.
The bill’s supporters see a government that holds Bitcoin badly. They want it held better.
What comes next
The bill’s path forward is long and uncertain. Passing the full House and Senate is a heavy lift, and the 20-year hold is the kind of provision that draws scrutiny.
The bill has cleared one hurdle, but it still faces three steps before it becomes law:
- Approval by the full House of Representatives
- Approval by the Senate
- Signature by the president
Each step carries its own set of questions. The 20-year hold is the kind of provision that draws scrutiny.
The bill’s supporters want Bitcoin’s legal status settled and its management improved. The bill’s opponents, if they exist, have not been named in this report.
Who is protecting what
The paper suspects the bill’s supporters want Bitcoin’s legal status settled and its management improved, and they frame the vote as proof of that. The bill’s opponents, if they exist, have not been named in this report. The vote itself is evidence of Bitcoin’s growing political weight, but the bill also hands the government a new power: the power to hold Bitcoin for 20 years.
The practical effect is clear: once Bitcoin enters the federal government’s reserve, it cannot be sold or spent for two decades. States would be allowed to store their Bitcoin in the Federal Reserve under the bill, and all federal agencies must account for every digital asset they hold or control.
The paper suspects the bill’s supporters are protecting their own standing in the Bitcoin policy arena. The vote is proof of that weight, and the bill’s framing of Bitcoin as a national resource gives its backers a reason to celebrate. The bill’s opponents, if they exist, have not been named in this report, so no motive can be stated for them.
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