Key Highlights
- Rep. Nick Begich announced a bill at Bitcoin2026 in Las Vegas to create a U.S. strategic Bitcoin reserve.
- The earlier BITCOIN Act is being renamed the American Reserves Modernization Act (ARMA).
- Begich is also pushing legislation to protect people’s right to hold their own Bitcoin.
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.
Speaking at Bitcoin Conference 2026 in Las Vegas today, Begich said, “Why the renaming — because it’s so important for people both in Congress and across the nation to understand what we’re actually trying to do. We’re trying to make sure that bitcoin is treated like the reserve asset that it is.”
BITCOIN Act rebranded to ARMA for wider support
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 updated plan builds on earlier efforts he worked on with Senator Cynthia Lummis and connects to a past executive order that pushed for creating long-term Bitcoin holdings similar to gold reserves.
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.
In short, the idea is that Bitcoin would be held for a long time, not traded or moved around often, but kept as a reserve asset for national use. Begich said the timing matters because future governments may not support Bitcoin the same way, and he believes Congress should act while there is political support available.
Begich pushes for self-custody rights
A major part of his message focused on self-custody rights. He linked it to history, pointing to the 1933 U.S. executive order that allowed the government to confiscate privately held gold. He said this happened when gold was considered money, and the government wanted more control over the money supply.
Begich warned that similar situations should not happen again with digital assets. In his words, “We need to make sure that doesn’t happen again.” He added that self-custody makes large-scale seizure harder because Bitcoin is spread across millions of private wallets, not stored in one place.
He also urged exchanges and the crypto industry to support self-custody because it protects users and the 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.
Also Read: France Sees Explosion in Crypto Kidnappings: 88 Suspects Charged
