GOP lawmaker unveils bill to codify a strategic bitcoin reserve

• The bill has bipartisan support with over a dozen co-sponsors, including Rep. Pat Harrigan (R-N.C.), who notes the U.S. already holds billions in seized bitcoin without a management strategy
• Target goal is for the U.S. to hold approximately 5% of global bitcoin supply (about 1 million coins), roughly equivalent to current U.S. gold reserves which represent 60% of crypto market capitalization
• The Senate Banking Committee passed the related Clarity Act 15-9, with Sen. Cynthia Lummis projecting a possible Senate floor vote by mid-June 2025, though she called that timeline 'pretty optimistic'

Summary

Rep. Nick Begich (R-Alaska) has introduced the American Reserve Modernization Act to establish a strategic U.S. bitcoin reserve, aiming to diversify America's reserve balance sheet. The bipartisan-supported bill would create the reserve within the Treasury Department, featuring a separate stockpile for federally held digital assets distinct from bitcoin.

Key Details:

• Target holdings: Approximately 5% of global bitcoin supply (~1 million coins), comparable to current U.S. gold reserves
• Rationale: Bitcoin represents roughly 60% of the entire cryptocurrency market cap, positioning it as the dominant store of value in the digital asset class, similar to gold among precious metals
• Existing assets: The U.S. government already holds billions in seized bitcoin with no coherent management strategy; Treasury recently seized nearly $500 million in Iranian cryptocurrency under Operation Economic Fury

Legislative Context:

President Trump signed an executive order in March 2025 establishing a strategic bitcoin reserve, though it remains not fully operational. The administration seeks global crypto dominance. Trump previously called cryptocurrency potentially "the greatest revolution in financial technology since the birth of the internet itself."

The Senate Banking Committee passed the related Clarity Act with bipartisan support (15-9 vote), with Sen. Cynthia Lummis (R-Wyo.) anticipating a potential Senate floor vote by mid-June.

Market Data: Bitcoin currently trades at $76,912.99 (down 0.71%), with monthly gains of 2.06%.

The legislation addresses growing need for formal cryptocurrency management protocols as digital asset seizures and holdings increase.