Boosting Crypto Dominance: US Proposes National Bitcoin Reserve

Striving for US Crypto Dominance

Darren Botelho from FOX Business reports that US Republicans are hustling to solidify US crypto dominance. Their proposal is for a national Bitcoin reserve that would be funded by seized digital assets associated with Iran.

Unveiling the American Reserve Modernization Act

According to an exclusive report, Rep. Nick Begich, R-Alaska, is introducing the American Reserve Modernization Act. This act aims to establish a US strategic Bitcoin reserve, diversifying the country’s balance sheet of reserves.

Bitcoin Reserve in the Treasury Department

The bill, backed by both parties, proposes the creation of this reserve within the Treasury Department. It would include a separate stockpile for federally held digital assets distinct from Bitcoin. Begich compares Bitcoin to gold in the crypto asset class, asserting that it holds a dominant position.

Establishing a Strategic Bitcoin Reserve

In March 2025, President Donald Trump signed an executive order for a strategic Bitcoin reserve, seeking to claim global dominance in crypto. The Trump administration has been dedicated to this initiative, and the reserve is nearing operation.

Operation Economic Fury and Seized Bitcoin

Recently, the Treasury Department initiated Operation Economic Fury to disrupt Iran’s revenue streams and pressure its financial systems. By late April, it declared the seizure of nearly $500 million in Iranian cryptocurrency assets. However, managing these seized assets is a challenge that needs addressing, says Rep. Pat Harrigan, R-N.C.

Senate Banking Committee’s Clarity Act

In related news, the Senate Banking Committee has passed the Clarity Act with bipartisan support in a 15-9 vote. Sen. Cynthia Lummis, R-Wyo., estimates the bill could reach the Senate floor by mid-June.

Target for Bitcoin Reserve

Begich envisions the US holding about 5%, or roughly 1 million coins, of the world’s Bitcoin in the reserve, aligning with what the US government currently holds in gold.

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