U.S. Lawmaker Unveils Bill to Codify Strategic Bitcoin Reserve, Draws Bipartisan Support
Rep. Nick Begich has introduced the American Reserve Modernization Act (ARMA) to establish a U.S. strategic bitcoin reserve. The bill has received bipartisan support and aims to give a legal foundation to the reserve while tasking the Treasury Department with its oversight. It proposes acquiring up to 1 million bitcoin over five years, emphasizing the asset's significance as a store of value.
- ▪The American Reserve Modernization Act (ARMA) aims to codify a U.S. strategic bitcoin reserve.
- ▪The bill has garnered bipartisan support with more than a dozen co-sponsors in Congress.
- ▪It proposes that the Treasury acquire up to 1 million bitcoin over five years, locking all holdings for a minimum of 20 years.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Bitcoin Magazine.
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