Trump's Bitcoin Reserve Plan Stalled by Legal and Agency Disputes
More than 16 months after President Donald Trump's executive order, the Strategic Bitcoin Reserve remains stalled due to a dispute between the Treasury and Commerce Departments over legal authority. The Justice Department's Office of Legal Counsel is mediating. The reserve, intended to hold forfeited Bitcoin and potentially new purchases, faces legal hurdles because existing statutes cover gold and securities, not volatile digital assets. The March 6, 2025 executive order created two structures: the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile. Deadlines for agency reports and Treasury evaluations passed without disclosure. Treasury Secretary Scott Bessent gave contradictory signals on purchases. Congress is considering the ARMA Act to codify the reserve and acquire 1 million Bitcoin over five years. The U.S. holds 328,372 BTC (~$21 billion), the largest state reserve. White House spokesperson Liz Huston and advisor Patrick Witt have offered no concrete timeline.
Key facts
- Trump's executive order establishing a Strategic Bitcoin Reserve was signed over 16 months ago.
- Treasury and Commerce Departments dispute which has legal authority to manage the reserve.
- Justice Department's Office of Legal Counsel is mediating the dispute.
- Existing federal asset-management statutes cover gold, foreign exchange, and Treasury securities, not Bitcoin.
- The March 6, 2025 executive order created the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile.
- A 30-day deadline for agency reports and a 60-day deadline for Treasury evaluation both passed without public disclosure.
- Treasury Secretary Scott Bessent stated the U.S. 'won't be buying' additional Bitcoin, then partially walked back.
- Congress is developing the ARMA Act to codify the reserve and acquire 1 million Bitcoin over five years.
- The U.S. holds 328,372 BTC (~$21 billion), the largest state reserve of any government.
- White House spokesperson Liz Huston said the administration 'continues to evaluate the best structure.'
Entities
Institutions
- U.S. Treasury Department
- Commerce Department
- Justice Department
- Office of Legal Counsel
- White House
- Congress
- NFT Plazas
- Bloomberg
Locations
- United States
- China
- United Kingdom
- Ukraine
- El Salvador