- The ARMA Act proposes creating a U.S. Strategic Bitcoin Reserve, backed by 5% of the global supply and funded by seized Iranian crypto assets.
- Republican Congressman Nick Begich warns his party has a six-month window before the November midterms to pass the legislation.
- White House advisor Patrick Witt hailed the reserve’s legal framework as a “breakthrough” while warning the U.S. must set the rules for the crypto industry.
In an exclusive interview with Fox Business, Congressman Nick Begich (R-AL) revealed a legislative push to establish a U.S. Strategic Bitcoin Reserve. The “American Reserve Modernization Act” would see the government acquire 5% of the world’s Bitcoin supply, mirroring its Gold holdings at Fort Knox. Begich dubbed the proposal “the new Fort Knox” and stressed it requires zero taxpayer dollars.
Consequently, the plan would be fully funded by cryptocurrency assets seized from Iran during Operation Economic Fury. However, Begich issued a sharp warning to his fellow Republicans, who currently control Congress. He stated conservatives have a “tight six-month window to pass this bill and lock it into law” before the November midterms.
Meanwhile, the initiative has drawn backing from the White House. At the Consensus 2026 conference, White House spokesman Patrick Witt called the reserve’s legal and custodial framework a “breakthrough.” He warned that policies enacted solely by executive order are vulnerable to being overturned by future administrations.
Witt also emphasized the strategic necessity of the U.S. leading in cryptocurrency governance. “If we’re not setting the rules, we will be following somebody else’s rulebook,” he said. If passed, the law would make the U.S. government one of the world’s largest Bitcoin holders, cementing its role as a sovereign reserve asset.
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