The full legislative text of a bill to codify a US Strategic Bitcoin Reserve is now public on Congress.gov, revealing a mandatory 20-year prohibition on selling any acquired BTC and a requirement for quarterly, publicly audited proof-of-reserve reports.
Rep. Nick Begich (R-AK) introduced H.R. 8957, the American Reserve Modernization Act of 2026 (ARMA), on May 21 alongside co-lead Rep. Jared Golden (D-ME) and 16 original co-sponsors. The bill is currently referred to the House Committee on Financial Services.
The text directs the Treasury Secretary to hold all Bitcoin deposited in the Strategic Bitcoin Reserve for a minimum of 20 years. During that period, no Bitcoin may be "sold, swapped, auctioned, encumbered, or otherwise disposed of for any purpose", per the bill's language. The only exception: Bitcoin may be sold to reduce the national debt, which topped $39 trillion at the time of introduction.
The provision is designed to insulate the reserve from short-term political pressure, preventing future administrations from liquidating holdings.
ARMA requires quarterly public proof-of-reserve reports published on an official Treasury website. Each report must include the total holdings, all transactions, and a public cryptographic attestation demonstrating the government controls the private keys. An independent, third-party auditor with expertise in cryptographic attestations must verify each report.
