What Is the Strategic Bitcoin Reserve Bill? What Wednesday’s House Vote Means for Bitcoin

Congress is set to vote on a bill that could lock 198,000 government-held Bitcoin away for two decades, but the headlines are getting one critical detail very wrong about what the legislation actually does.

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Bitcoin (CRYPTO) trades at $77,100 today, but the Strategic Bitcoin Reserve is making headlines for reasons that have little to do with price. The House Financial Services Committee is set to mark up H.R. 8957 on Wednesday, September 16, with headlines portraying it as the bill that could make the federal government a Bitcoin buyer.

In reality, ARMA does something more limited but still significant. It would lock up the Bitcoin the government already holds and require the first independent audit of the reserve. The bill authorizing new purchases is separate and nowhere near a vote. 

So, what does the September 16 markup actually mean for Bitcoin holders?

Reserve Holds 198,000 Bitcoin Nobody Bought

President Trump signed Executive Order 14233 on March 6, 2025, creating the Strategic Bitcoin Reserve. The order brought Bitcoin seized through criminal and civil forfeiture under a Treasury-managed reserve and directed the government to stop selling those holdings. However, because a future president can reverse an executive order, the reserve ultimately depends on whether a future administration keeps it in place.