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Bloomberg: US Strategic Bitcoin Reserve Stalls as Treasury and Commerce Battle for Control
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President Trump’s Strategic Bitcoin Reserve has hit a jurisdictional snag, with the Treasury and Commerce departments vying over who should manage the government’s more than 300,000 BTC.
Key facts
- The stakes are considerable given the U.S. government holds more than 300,000 BTC, worth roughly $21 billion at current prices, accumulated primarily through criminal and civil asset seizures
- President Trump’s Strategic Bitcoin Reserve has hit a jurisdictional snag, with the Treasury and Commerce departments vying over who should manage the government’s more than 300,000 BTC
- More than a year after President Donald Trump signed a March 2025 executive order creating a Strategic Bitcoin Reserve, the project remains unbuilt and two cabinet departments are now fighting over it
- White House spokeswoman Liz Huston also highlighted that the administration is still committed to the project, adding
Summary
Treasury and Commerce are competing to house Trump’s bitcoin reserve of over 300,000 BTC, worth about $21 billion. The DOJ’s Office of Legal Counsel is reviewing which department can legally manage the crypto trove. Officials are also examining whether the government can hold bitcoin indefinitely given its volatility. More than a year after President Donald Trump signed a March 2025 executive order creating a Strategic Bitcoin Reserve, the project remains unbuilt and two cabinet departments are now fighting over it.