U.S. House Committee Approves Bill to Formalize Government Bitcoin Reserves

The U.S. House Financial Services Committee has approved legislation formalizing strategic Bitcoin reserves, with the government holding an estimated $24.7 billion (approximately 34 trillion won) worth of Bitcoin (BTC). The committee voted 28-21 on the Strategic Bitcoin Reserves Act (ARMA, H.R.8957), as reported in a markup session on June 16.

Block reported that the bill aims to institutionalize former President Donald Trump's strategic Bitcoin reserve proposal into permanent federal policy. Akam Intelligence estimates the U.S. government holds approximately 324,527 BTC, valued at around $24.7 billion (about 34 trillion won). The legislation now moves forward for consideration in the full House and subsequent Senate review.