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U.S. Representative Nick Begich stated that he plans to reintroduce legislation related to Bitcoin strategic reserves in the coming weeks and will rename the previous BITCOIN Act to the American Reserves Modernization Act (ARMA) to garner broader congressional support. The bill aims to establish Bitcoin as a U.S. strategic reserve asset and codify Donald Trump's previous executive order on creating a permanent Bitcoin holding mechanism into law. The earlier version also included a provision to purchase 1 million Bitcoins over five years in a "budget-neutral" manner. Begich said that the new version of the bill has been adjusted but he did not disclose specific details. (The Block)