No tax increase, no deficit increase, buy coins.

Wu Shuo has learned that U.S. Federal Representative Nick Begich of Alaska and U.S. Federal Representative Jared Golden of Maine have introduced the “American Reserve Modernization Act” (ARMA). The bill would establish a strategic Bitcoin reserve at the U.S. Department of the Treasury and set up an independent digital asset reserve to manage non-Bitcoin digital assets held by the federal government. The bill requires federal agencies to report and hand over their held digital assets in a unified manner; the Treasury would centrally custody and manage them, and it would also introduce a quarterly “reserve proof,” third-party audits, and congressional oversight mechanisms. Under the bill, the Bitcoin in the strategic Bitcoin reserve must be held for at least 20 years, and it calls for research into a budget-neutral incremental accumulation plan that does not increase taxes, the fiscal deficit, or the national debt.