US Representative Nick Begich to Rebrand Bitcoin Act as American Reserves Modernization Act (ARMA)

US Representative Nick Begich to Rebrand Bitcoin Act as American Reserves Modernization Act

Las Vegas, NV — In a bold move aimed at garnering bipartisan support, US Representative Nick Begich has announced plans to rebrand the Bitcoin Act as the American Reserves Modernization Act (ARMA) in the coming weeks. The announcement was made during the 2026 Bitcoin Conference in Las Vegas, where Begich emphasized the need for a Strategic Bitcoin Reserve akin to the nation’s gold reserves.

Last year, Begich, alongside Senator Cynthia Lummis, introduced the original Bitcoin Act, formally known as the Boosting Innovation, Technology, and Competitiveness through Optimized Investment and Nationwide Bitcoin Act. While the name may change, the core objectives of the legislation remain intact.

The ARMA aims to enhance the national Bitcoin reserve by committing to the purchase of 200,000 BTC annually over the next five years. These coins would be locked away for two decades, with the exception of sales intended to reduce federal debt. This strategic approach is designed to position Bitcoin as a stable asset in the nation’s financial portfolio.

In a significant shift from previous practices, the Act stipulates that Bitcoin purchases will be funded through the Federal Reserve’s discretionary surplus or profits from gold accumulation. Historically, much of the US Bitcoin reserves have been acquired through seized assets from criminal activities or fines paid in cryptocurrency.

To safeguard these digital assets, the ARMA mandates that all Bitcoin be stored in secure cold storage facilities across the country, protecting them from potential cyber threats. Additionally, the bill emphasizes the importance of individual custody over crypto wallets, ensuring minimal government interference—an approach that starkly contrasts with regulations proposed in South Africa, which would allow enforcement officers to demand access to private keys.

Currently, the proposed ARMA is under review by the Senate Banking Committee, with a markup scheduled for May. If passed, the Treasury Department is expected to initiate its first official Bitcoin purchase in the fourth quarter of 2026. This initiative not only aims to bolster the nation’s financial dominance but also serves as a hedge against inflation, positioning Bitcoin as “digital gold.”

As it stands, the US government holds approximately 328,372 BTC, valued at around $25.4 billion based on the current price of $77,357 per Bitcoin. This makes the United States the largest sovereign holder of Bitcoin globally, surpassing China and the UK, which hold about 190,000 BTC and 61,000 BTC, respectively.

With the rebranding of the Bitcoin Act to ARMA, Begich hopes to rally more lawmakers behind this innovative financial strategy, potentially reshaping the future of cryptocurrency in the United States. As the cryptocurrency landscape evolves, all eyes will be on the Senate Banking Committee and the forthcoming discussions surrounding this pivotal legislation.