US Representative Nick Begich (R-AK) is spearheading an effort to modernize the nation's reserve strategy by advocating for the adoption of Bitcoin alongside gold, while other lawmakers press to make crypto available in 401(k) retirement plans.
The BITCOIN Act: A Plan for a Bitcoin Reserve
Rep. Begich, along with Senator Cynthia Lummis (R-WY), reintroduced the BITCOIN Act (Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act) in March.
- The Goal: Formally add Bitcoin to the U.S. reserve strategy and implement a five-year plan to acquire one million bitcoins.
- Cost-Neutral Acquisition: The bill is designed to be cost-neutral, prioritizing the retention of confiscated digital assets instead of auctioning them off, building on a Trump executive order. Begich prefers to fill the reserve this way, potentially removing any direct buying requirements in future bill versions.
- Rationale: Begich believes the move is a necessary "safeguard for America’s economic future" and a required show of leadership in the "digital revolution." He chose Bitcoin specifically for its fixed supply of 21 million and its market longevity.
- Support: The legislation is openly supported by prominent crypto figures like Michael Saylor of MicroStrategy.
Conflict of Interest Claims
Begich's proposal has drawn criticism regarding a potential conflict of interest. Critics, including Noah Bookbinder of CREW (Citizens for Responsibility and Ethics in Washington), note that the bill would likely increase the value of Bitcoin, an asset currently held in Begich's personal portfolio (valued at $760,000 as of August). Begich countered, arguing that Bitcoin ownership is widespread and it would be unfair to avoid advocating for policy simply because it might also benefit him.
Expanding Crypto Access to Retirement Funds
In a parallel legislative push, a coalition of nine lawmakers, including key committee chairs French Hill and Ann Wagner, sent a letter to SEC Chair Paul Atkins urging the agency to expedite the process of making crypto available in 401(k) retirement plans.
- Trump's Directive: The urgency stems from Trump's August executive order on “Democratizing Access to Alternative Assets for 401(k) Investors,” which requires the SEC and Department of Labor to adjust current rules.
- The Benefit: Lawmakers believe this will help the 90 million Americans currently barred from investing in alternative assets, allowing them to improve risk-adjusted returns and secure a "dignified, comfortable retirement."
October 2025, Cryptoniteuae