Summary
- US Representative Nick Begich said he had introduced the American Reserve Modernization Act, or ARMA, to include Bitcoin (BTC) in government reserve assets.
- The bill would consolidate digital assets held by the federal government, protect them as reserve assets for future generations, and lay the groundwork for including BTC in the government’s reserve asset portfolio.
- Markets are watching how the bill could affect the US government’s BTC policy direction and institutional investor sentiment.
Forecast Trend Report by Period
US Representative Nick Begich, a pro-crypto lawmaker, has introduced legislation that would allow Bitcoin to be included in US government reserve assets, as debate continues over creating a strategic national Bitcoin stockpile.
Begich wrote on X on May 21 that he had introduced the American Reserve Modernization Act, or ARMA.
The bill would establish a framework to consolidate digital assets held by the federal government and safeguard them as reserve assets for future generations.
A central provision would lay the groundwork for adding Bitcoin to the government’s reserve asset portfolio.
"The United States reserve balance sheet is a core element of the nation’s insurance policy," Begich wrote.
It underpins the dollar’s value and provides trust and stability during periods of uncertainty. But market views on which assets can serve as durable stores of value can change over time.
The US should acknowledge that shift and preserve the flexibility to expand its reserve asset portfolio, he added.
Discussion in Washington has recently widened around the need for a strategic Bitcoin reserve and for government-level holdings of digital assets.
Markets are watching the bill for clues on the US government’s Bitcoin policy direction and its potential effect on institutional investor sentiment.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.