Rep. Nick Begich (Republican from Alaska) has unveiled the American Reserve Modernization Act, a legislative proposal aimed at establishing a strategic bitcoin reserve within the U.S. Treasury Department. This initiative is designed to diversify America's reserves balance sheet and is gaining bipartisan support. The proposed reserve would include a separate stockpile for federally held digital assets, distinct from bitcoin. Begich likened bitcoin to gold, stating it constitutes about 60% of the total cryptocurrency market cap, suggesting it is a predominant store of value. The bill follows an executive order signed by former President Donald Trump in March 2025, which aimed to create a strategic bitcoin reserve to enhance U.S. dominance in the crypto sector. Additionally, Rep. Pat Harrigan highlighted the urgent need for a coherent strategy to manage billions in seized bitcoin currently held by the government. The Senate Banking Committee has also passed the Clarity Act, which may be voted on by mid-June, further indicating the momentum behind cryptocurrency regulation in the U.S. Begich hopes to accumulate approximately 1 million bitcoins, aligning this reserve with the current gold holdings of the U.S. government.