Trump’s Bitcoin Reserve Faces Its First Test in Congress

The committee markup begins at 14:00 UTC on September 16. H.R. 8957, the American Reserve Modernization Act, is one of nine measures on the agenda, and the chairman will determine their order. Members can amend the proposed substitute before deciding whether to send the bill to the full House. The committee is testing whether Trump’s reserve can outlast his order President Donald Trump created the Strategic Bitcoin Reserve by executive order in March 2025. The order directed the government to retain eligible forfeited Bitcoin, establish a separate stockpile for other digital assets and explore budget-neutral ways to acquire more BTC. H.R. 8957 would convert that executive policy and its management rules into a statutory framework. A future president could replace the executive order, but could not cancel a federal law without action from Congress. What today’s markup will not decide It will not order an immediate Bitcoin purchase. It will not establish a one-million-BTC target. Committee approval would not enact the bill. Treasury would have 180 days to formalize the two structures Under the proposed substitute, federal agencies would have 60 days after enactment to give Treasury a complete accounting of the Bitcoin and other digital assets they hold, have seized or control through another legal authority. Treasury would then have 180 days to establish two separate structures: the Strategic Bitcoin Reserve for qualifying BTC and the Digital Asset Stockpile for qualifying non-Bitcoin assets. Agencies would transfer eligible holdings within 30 days after those structures were established. “Qualifying” is an important limitation. The reserve would not automatically absorb every asset temporarily held by law enforcement. Bitcoin or other assets required to satisfy forfeiture laws, court orders or victim claims would remain available for those purposes. Bitcoin would be locked away while other assets could be sold The two structures would follow different rules. Bitcoin deposited into the reserve could not be sold, swapped, auctioned, pledged or otherwise disposed of for at least 20 years. Two years before that period ended, Treasury would have to advise Congress on whether the government should continue holding it or allow a controlled release. After the holding period, Treasury could recommend selling up to 10% of the reserve during any two-year period. A permitted sale would require a formal rule designed to provide transparency and limit market disruption. Treasury would have more flexibility with non-Bitcoin assets. It could sell or exchange them through a published process, use the proceeds to cover the cost of managing both structures and direct any excess toward reducing the national debt. Non-Bitcoin assets obtained through forks or airdrops would generally be held for one year before disposal could be considered. The bill’s findings cite Bitcoin’s finite supply as part of the case for treating it differently from other digital assets.