Miami — U.S. Congressman Nick Begich addressed the Bitcoin 2026 conference with a clinical assessment of sovereign default and asset seizure. Testifying alongside Unchained CEO Joe Kelly and Foundation Devices CEO Zach Herbert, Begich argued that holding cryptographic keys is a fundamental civil liberty. The panel firmly established that digital property rights are the only valid defense against mismanaged central banks.

The historical precedent for state theft is unambiguous. Begich referenced the 1933 federal confiscation of privately held gold as a structural warning for modern investors. He argued that "history shows governments under pressure will seize assets and that self-custody protects against centralized confiscation."

This is not ideological posturing; it is a mechanical hedge against the administrative state. As federal payrolls approach insolvency and the national debt compounds, the temptation for Washington to expropriate private liquidity will escalate. Institutional managers must structure their digital portfolios to eliminate counterparty risk from the government entirely.