Trump’s Bitcoin Reserve Dream Stalled: Crypto Fans Left Waiting for Congress

by

Those who cheered U.S. <a href="https://jpyeur.com/btc-usd/">Bitcoin</a> reserve have spent year watching Trump’s order languishNews Analysis

What to know:

  • President Donald Trump’s administration has determined that it needs congressional action to open the planned Strategic Bitcoin Reserve, so his executive order and forming it has now waited a year for action.
  • People familiar with the legislative effort have said that a late-year defense bill may offer a potential landing spot for 2026.

When President Donald Trump announced plans for a “Strategic Bitcoin Reserve” early in his term, the cryptocurrency world was excited. Many saw it as a sign that bitcoin was becoming a mainstream investment. However, a year later, the reserve hasn’t been created.

The Trump administration first inventoried the government’s cryptocurrency assets, but the U.S. hasn’t yet established a bitcoin reserve. This is because a March 6, 2025, order stipulated that any law needed to put the order into effect must be passed first. The Trump Treasury Department doesn’t currently have the authority to create the necessary accounts, and that requires Congress to act. Trump’s crypto advisor, Patrick Witt, has stated this raises new and complex legal issues that need to be resolved.

Senator Cynthia Lummis and others in Congress are trying to pass legislation about digital assets, and the most likely way to do so this year might be by including it in the National Defense Authorization Act. However, for that to happen, the White House would likely need to make this a key issue again, similar to how it was during the Trump administration.

There’s been a lot of speculation about how the cryptocurrency reserve – and a related collection of other digital assets also requested by Trump – would be planned and funded. Recently, CNBC’s Jim Cramer mentioned a rumor that Trump’s team was ready to start building the reserve once Bitcoin reached $60,000, even though there was no clear plan for storing it or the necessary funds to purchase it.

When asked about the government’s bitcoin holdings, the president’s team avoids giving a clear answer. However, estimates suggest the federal government owns over 300,000 bitcoin, worth more than $20 billion.

Many in the crypto world were disappointed that Trump’s order on bitcoin didn’t involve the government actually buying any of it. Instead, it focused on finding ways for the government to acquire bitcoin without using taxpayer money.

Trump’s advisor, Witt, is keeping quiet about the main plans for adding more bitcoin to the fund. This fund is designed for long-term growth, and isn’t intended to be an emergency fund where the bitcoin would be sold off if needed.

The White House declined to comment on the pause in activity, but it highlights a key point: executive orders, which were frequently used by the Trump administration, aren’t legally binding and generally serve as guidance from the president.

If Trump’s supporters in Congress try to add their proposal to the defense bill later this year, the process would likely finish in December. This funding bill is often called a “Christmas tree” in Washington – meaning lawmakers attach many unrelated provisions to it because it *has* to pass. If they follow this strategy, it would happen during the final weeks of the current congressional session, after some members have either lost their elections or decided to retire, but before they officially leave office.

Senator Lummis has proposed a bill that would have the U.S. government acquire one million bitcoins, roughly 5% of the total amount that will eventually be available. While the Wyoming Republican, who leads the Senate Banking Committee’s digital assets subcommittee, has introduced the bill, the committee is currently focused on passing a different piece of legislation: the Digital Asset Market Clarity Act.

Read More

2026-03-07 18:16