Last Updated: September 22, 2026
The US Strategic Bitcoin Reserve reached its clearest legislative milestone yet on September 16. The House Financial Services Committee voted 28-21 to advance H.R. 8957, the American Reserve Modernization Act, which would codify the reserve in federal law for the first time.
The vote came more than 18 months after President Trump’s March 2025 executive order established the reserve. Since then, the reserve has existed mainly as a policy directive rather than binding law. The government still holds roughly 328,372 BTC, worth approximately $28.2 billion at current prices, without formal congressional backing.
Key Takeaways
The House Financial Services Committee advanced H.R. 8957, the American Reserve Modernization Act, in a 28-21 vote on September 16, 2026. The bill now has committee approval and could proceed to a full House vote.
The legislation would direct the Treasury Department to maintain a secure Bitcoin storage facility. It would also turn President Trump’s March 2025 executive order into binding federal law for the first time.
The US government holds an estimated 328,372 BTC, worth roughly $28.2 billion at today’s prices. That makes it the largest known state Bitcoin holder in the world, although the government acquired the entire stockpile through criminal and civil forfeiture rather than open market purchases.
A parallel Senate bill, the BITCOIN Act sponsored by Senator Cynthia Lummis, would go further. It would direct the Treasury to purchase one million BTC over five years, but the Senate has not passed it.
Treasury Secretary Scott Bessent stated in August 2025 that the administration would not buy additional Bitcoin under the current executive order framework. As a result, the budget neutral acquisition mandate has not produced any confirmed open market purchase to date.
What the September 16 Committee Vote Actually Changes
H.R. 8957 is now officially called the American Reserve Modernization Act. Alaska Representative Nick Begich rebranded his original bill to broaden bipartisan appeal.
The legislation is the first Strategic Bitcoin Reserve proposal to move through a formal congressional committee process. The 28-21 vote moves it toward a possible full House floor vote, but the bill still needs Senate approval and the president’s signature to become law.
Rep. Bill Foster, a Democrat from Illinois, opposed the bill during the markup. He argued that Bitcoin’s volatility makes it a poor fit for government reserves and said plainly that he doesn’t believe Bitcoin is critical to the US economy.
Begich has said he is coordinating with Senator Lummis to align the House and Senate versions. The effort suggests lawmakers want a unified path forward instead of allowing the two chambers’ bills to compete separately.
That coordination may not produce a law. The bill received a mixed committee vote, and Congress has struggled to pass crypto market structure legislation this year. The CLARITY Act’s failed Senate cloture vote on September 15 was the latest example. For the latest on that separate story, see our CLARITY Act explainer.
The Reserve’s Current Legal Status
President Trump’s March 6, 2025 executive order established the Strategic Bitcoin Reserve. It directed federal agencies to consolidate their seized Bitcoin holdings under Treasury management and prohibited the sale of any Bitcoin held in the reserve.
The order reversed years of US Marshals Service practice involving the routine auction of seized crypto. It also created a separate US Digital Asset Stockpile for non-Bitcoin holdings such as Ethereum, Solana, and XRP. Different rules apply to those assets, leaving open the possibility of eventual sales.
The executive order did not commit the government to buying additional Bitcoin with taxpayer money. Instead, it directed Treasury and Commerce to study budget neutral acquisition strategies.
More than a year later, that language has not led to a confirmed open market purchase. The main budget neutral option under discussion involves revaluing the roughly 8,133 tonnes of gold held by the Treasury. The gold is currently carried on the books at a Depression era statutory price of $42.22 per ounce, and the resulting paper gains could fund Bitcoin acquisitions without new spending.
Why the Reserve Has Moved So Slowly
Some of the delay reflects legal and structural uncertainty rather than simple political inertia. White House officials confirmed in January 2026 that the administration remains committed to the reserve but cited unresolved legal provisions that complicate its implementation.
A July 2026 report said the White House was still evaluating whether Treasury or Commerce should formally house the reserve. Security has also become a specific concern. In early 2026, the US Marshals Service investigated a possible hack of government digital asset accounts after allegations that more than $60 million had been stolen.
The incident increased pressure for centralized, secure custody under a single agency.
For the fuller picture of how this fits into the broader regulatory landscape, see crypto news today and crypto market today.
This article is for informational purposes only and does not constitute financial advice.
Frequently Asked Questions
Has the US Strategic Bitcoin Reserve actually become law?
Not yet, no, it has not. The House Financial Services Committee advanced H.R. 8957, the American Reserve Modernization Act, in a 28-21 vote on September 16, 2026, moving it into committee approved status, but the bill still requires a full House floor vote, Senate passage, and presidential signature before becoming binding law.
How much Bitcoin does the US government currently hold?
The US government holds an estimated 328,372 BTC, worth approximately $28.2 billion at today's prices near $85,919 per coin each, making it by far the largest known state holder of Bitcoin anywhere in the entire world. This entire stockpile came from criminal and civil asset forfeiture, not open market purchases.
Is the Treasury actually buying more Bitcoin?
No, not currently, it genuinely is not. Treasury Secretary Scott Bessent himself stated in August 2025 that the administration would not be purchasing additional Bitcoin under the current executive order framework, and as of this update no confirmed open market purchase has been made under the budget neutral acquisition mandate.
What is the difference between the House and Senate Bitcoin reserve bills?
The House's American Reserve Modernization Act would codify the existing reserve and direct Treasury to maintain secure storage, while the Senate's BITCOIN Act, sponsored by Senator Cynthia Lummis of Wyoming, goes further by directing Treasury to actively purchase one million BTC over five years. Both remain unpassed as of this update.
How might the government fund additional Bitcoin purchases without new spending?
The most discussed option involves revaluing the roughly 8,133 tonnes of gold the Treasury holds, currently carried at a Depression era statutory price of $42.22 per ounce set back in 1973 and far below market value, and using the resulting paper gains to fund Bitcoin acquisitions without requiring new taxpayer spending.
Why did a US Marshals Service investigation matter for the reserve's timeline?
In early 2026, the US Marshals Service investigated a possible hack of government digital asset accounts following allegations that more than $60 million had been stolen from those accounts. The incident highlighted real custody risks across fragmented agency holdings and added genuine urgency to consolidating Bitcoin under centralized Treasury management.
