U.S. Congressman Nick Begich has announced a proposal to establish a Bitcoin reserve to diversify the country’s national balance sheet.
Speaking at the BTC in D.C. conference in Washington, the Alaska Republican emphasized that while the U.S. has traditionally placed strong emphasis on gold, Bitcoin should now be treated with equal strategic importance. Begich, together with Senator Cynthia Lummis, introduced the “BITCOIN Act” last year, which aims for the U.S. to acquire 1 million bitcoins within five years if passed into law.
The initiative builds on a presidential order signed by former President Donald Trump that prohibited the sale of government-held crypto assets. Under that order, confiscated bitcoins were kept in a separate stockpile. The new bill seeks to take this further by formally elevating Bitcoin to the status of a national reserve asset, similar to gold.
The crypto industry has shown notable support for the plan. MicroStrategy founder Michael Saylor expressed his approval during a roundtable meeting with Begich and Lummis. If enacted, the U.S. would become the first country in history to establish an official Bitcoin reserve, marking a potentially game-changing development for global markets.
