House Committee Advances Bill to Codify US Bitcoin Reserve

The US Strategic Bitcoin Reserve has made significant progress as the House Financial Services Committee voted 28-21 to advance H.R. 8957, the American Reserve Modernization Act.

This bill would codify the reserve into federal law for the first time and direct the Treasury Department to maintain a secure BTC storage facility.

The US government currently holds an estimated 328,372 Bitcoin, worth approximately $28.2 billion at current prices, making it the largest known state holder of Bitcoin.

Treasury Secretary Scott Bessent stated in August 2025 that the administration would not be purchasing additional Bitcoin under the current executive order framework.