U.S. Still Working Out Bitcoin Reserve Plan After Trump Order
The White House is still weighing the right structure and legal footing, while Treasury and Commerce clash over control. The U.S. already holds about 328,372 BTC, but formal legislation is still missing.
Key Takeaways
- The U.S. government is still working on a strategic Bitcoin reserve, more than 16 months after Trump’s order.
- Treasury and Commerce are fighting over control, while federal agencies are taking stock of existing crypto holdings.
- Full rollout will likely also need Congress to sign off; the U.S. is estimated to hold 328,372 BTC.
The U.S. government is still trying to put a strategic Bitcoin reserve in place, even though President Donald Trump ordered it more than 16 months ago. The White House says officials are still deciding how to structure both a long-term Bitcoin reserve and a separate stockpile for other crypto assets.
Treasury and Commerce Are Fighting Over Control
Bloomberg reported Monday that both the Treasury Department and the Commerce Department want to oversee the funds. That turf battle is slowing things down, while federal agencies also work through what crypto the U.S. already holds and how those assets should be managed.
Trump set the process in motion in March 2025 with an executive order calling for a Strategic Bitcoin Reserve and a separate U.S. Digital Asset Stockpile. But the policy is still not fully in place. The White House told CoinDesk that the administration is continuing to review the best structure for both funds.
Legislation Is Still Needed
Crypto adviser Patrick Witt and his predecessor say the plan will also need Congress on board before it can fully launch. Executive orders do not have the same legal force as legislation, and no bill has advanced that would formally codify Trump’s proposal. That leaves the timeline uncertain, especially with the midterms approaching.
The reserve is also supposed to be held for the long haul. That does not line up neatly with the usual idea of a strategic reserve, which is typically tapped during emergencies or periods of market stress. Here, the goal is to hold the asset, not use it.
Why This Still Matters
For European crypto readers, the key issue is that the U.S. is still trying to organize one of the most visible government Bitcoin positions in the world. The U.S. government is estimated to hold about 328,372 BTC, which makes it the largest known government Bitcoin stash globally. That means every decision around custody, legislation, and management matters for the wider debate over whether governments should treat crypto as a reserve asset.
The reserve discussion is also connected to Trump’s broader crypto messaging. He recently said Bitcoin could eventually have a place in the new Trump Accounts for children, though that would probably require new legislation.
