White House · Bloomberg · Donald Trump · Bitcoin · U.S. Treasury · US Congress · CoinDesk
Bitcoin's U.S. reserve still a work-in-progress as federal agencies hash it out
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The White House acknowledges that the process for setting up a long-term stockpile of bitcoin BTC $ 63,032.10 is still being worked out 16 months after President Donald Trump ordered his administration to build the reserve, and a report from Bloomberg suggests that the Departments of the Treasury and Commerce are both being considered as homes.
Key facts
- President Trump campaigned on a vision of cementing America as the global capital of cryptocurrency and other cutting-edge technologies," said White House spokeswoman Liz Huston sent to CoinDesk
- Trump had issued an executive order in March of 2025 to get the work started on what he called a strategic reserve for bitcoin and a separate stockpile of several other cryptocurrencies
- The White House's chief crypto adviser, Patrick Witt, and his predecessor in that role had both said that they'll need Congress to fully back up the formation and activation of the crypto funds
Summary
President Donald Trump's White House says the administration is still trying to "evaluate the best structure" for building a bitcoin reserve at the federal level. The process has reportedly been complicated by the uncertainty over where to house it, potentially in either Treasury or Commerce departments, according to a Bloomberg report. Congress still hasn't gotten any closer to producing the legislation that White House advisers have said would be needed to back up the final effort.