House Committee Approves Bitcoin Reserve Bill Amid Market Uncertainty

The Strategic Bitcoin Reserve is one step closer to becoming law after the House Financial Services Committee voted 28-21 in favor of the American Reserve Modernization Act (ARMA) on September 16.

The bill, which aims to lock up approximately $27.6 billion worth of Bitcoin in a reserve for 20 years, is a temporary measure created by President Donald Trump's executive order in March 2025.

However, the legislation does not authorize the government to buy any Bitcoin and instead focuses on tracking the existing stash, which blockchain analytics firm Arkham estimates to be around $27.6 billion.

The bill would require annual audited reports and prevents the sale of seized coins for 20 years, but it doesn't send any new buyers to the market, which could potentially drive up Bitcoin's price.