TLDR
- The House Financial Services Committee advanced the Bitcoin strategic reserve bill, H.R. 8957.
- The proposal would place qualifying federal Bitcoin holdings under Treasury Department management.
- Bitcoin transferred into the reserve would generally face a 20-year minimum holding period.
- Treasury would publish quarterly proof-of-reserve reports backed by independent audits.
- The bill allows study of budget-neutral Bitcoin acquisitions while barring new taxes, borrowing, or deficit spending.
The House Financial Services Committee advanced the American Reserve Modernization Act of 2026 on September 16. The Bitcoin strategic reserve bill, H.R. 8957, would place federal Bitcoin holdings under Treasury management and create a legal framework for the reserve. Committee members voted 28-21 to report the amended bill favorably, moving it toward possible consideration by the full House.
Rep. Nick Begich introduced the measure in May with Democratic Rep. Jared Golden as a co-lead. The proposal would turn the Strategic Bitcoin Reserve created under President Donald Trump’s 2025 executive order into federal law. The committee’s action does not make the bill law, and the full House has not yet voted on it.
Treasury would manage long-term Bitcoin holdings
The legislation would require Treasury to establish secure storage for qualifying federal Bitcoin. Treasury would generally hold Bitcoin deposited into the reserve for at least 20 years. The reserve would mainly receive Bitcoin obtained through federal criminal or civil forfeiture, while Treasury would place other digital assets in a separate Digital Asset Stockpile.
The bill also requires Treasury to create the storage system within 180 days of enactment. Agencies would then transfer qualifying Bitcoin after Treasury certifies that the system can safely receive and manage the assets. The framework also sets reporting rules for future reserve transactions.
H.R. 8957 would require quarterly public proof-of-reserve reports. Those reports would cover holdings, transactions, and demonstrated control of private keys. An independent third-party auditor would verify the information. Federal agencies would also identify their digital asset holdings before Treasury begins receiving transfers.
Acquisition study and private property protections
The Bitcoin strategic reserve bill does not directly order Treasury to buy Bitcoin on the open market. Instead, it directs Treasury and Commerce to study budget-neutral ways to acquire additional Bitcoin over five years. The bill bars new borrowing, new taxes, and deficit spending for those purchases.
The measure also states that it does not authorize federal seizure of Bitcoin that private owners lawfully hold. Supporters say a statutory reserve would provide clearer federal custody and reporting rules. Critics, including Rep. Bill Foster, have raised concerns about Bitcoin’s volatility and suitability as a government reserve asset. The House and Senate must still pass the measure before it can reach the president.
