When using ARC there is no need to use modifiers like retain or copy, for example. That kind of memory managment is done automatically using the strong and weak modifiers.
You also don't have to worry about writing dealloc methods.
strong is kind of the equivalent of retain, so you should mark your outlets with it
@property(nonatomic, strong) IBOutlet UIButton *bt;
That's the way interface builder creates them by default.
I won't go into detail about their semantic differences, but you should really have a look at Apple's guide on transitioning to ARC if you want to know what's going on and read about the specifics of strong and weak modifiers.
EDIT:
Sorry, interface builder creates outlets with weak by default.
EDIT 2:
strong and retain are indeed 100% identical. (thanks to @Adam)
EDIT 3:
You set your pointers to nil to avoid getting any message sent to deallocated instance or BAD_ACCESS_EXCEPTION errors.
If you are actually using ARC, you should make your outlets (nonatomic, weak) instead of (nonatomic, strong). By using the weak zeroing pointers, what the compiler does is automatically set your outlets to nil when nothing else references them.
So, summing up, if you don't use weak properties, you should set your pointers to nil.