Bitcoin
House Committee Prepares to Mark Up Bill Formalizing Strategic Bitcoin Reserve
The House Financial Services Committee is scheduled to review legislation that would establish statutory protections and audits for seized federal Bitcoin.
The House Financial Services Committee is set to mark up H.R. 8957, known as the American Reserve Modernization Act of 2026, on Wednesday, September 16. Introduced on May 21, 2026, by Republican Representative Nick Begich and Democratic Representative Jared Golden alongside more than 20 cosponsors, the legislation would place the federal government's existing Bitcoin holdings into a statutory 20-year lockup and require the reserve's first independent audit.
The current Strategic Bitcoin Reserve originated under Executive Order 14233, signed by President Trump on March 6, 2025, which consolidated seized Bitcoin under Treasury administration and halted sales. The reserve holds an estimated 198,000 Bitcoin, part of a wider total of approximately 328,372 Bitcoin valued at around $25 billion held across the Justice Department, IRS Criminal Investigation, and the U.S. Marshals Service.
The government did not purchase these assets, which originate from law enforcement forfeitures such as the Prince Group case (127,271 BTC) and the Silk Road case (69,370 BTC). Treasury Secretary Scott Bessent stated in August 2025 that the U.S. will not purchase additional coins, and the bill under committee review focuses on securing and auditing current holdings rather than authorizing new market purchases.
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