House Committee Advances American Reserve Modernization Act

The House Financial Services Committee moved to advance the American Reserve Modernization Act, or H.R. 8957, following a 28-21 vote on September 16. The legislation seeks to codify an executive order issued by Trump in March 2025 into permanent law.

Armstrong confirmed that direct discussions are currently underway with the Treasury and Commerce departments regarding the advancement of a Strategic Bitcoin Reserve. These talks are focused on identifying budget-neutral methods to acquire additional BTC without utilizing taxpayer funds or initiating new spending.

The proposed strategy involves acquiring 1,000,000 BTC over a five-year period. Potential funding sources for these acquisitions include tariff revenue or the revaluation of Treasury gold certificates.

The United States currently holds approximately 328,000 BTC, the majority of which was obtained through law enforcement seizures. Armstrong projects that the value of these holdings could eventually exceed $1,000,000,000,000.

Executives from Strategy, MARA, and BitMine are already involved in the process, with separate roundtable discussions currently taking place to refine the approach.

While the committee vote marks the first step in the legislative process, the bill still requires approval from the full House and the Senate before it can reach Trump for a signature.

The path forward remains uncertain, as evidenced by the recent failure of the CLARITY Act at a similar stage. Armstrong is betting that H.R. 8957 will move more quickly due to its narrower scope and fewer complications compared to broader market structure legislation.

Whether the proposal can successfully navigate the legislative process remains an open question.