White House · Donald Trump · Bitcoin · Bloomberg · Federal Reserve (FED) · U.S. Treasury · Cointelegraph
US Bitcoin reserve hits snag as federal agencies debate for control: Bloomberg
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The report follows comments from White House crypto adviser Patrick Witt in May, who said the administration was examining the legal implications of creating a Bitcoin reserve.
Key facts
- The US currently holds 328,372 Bitcoin worth $21.1 billion, the most of any nation-state, but has sold portions through court-ordered actions over the years
- Under ARMA, Bitcoin must be held for at least 20 years unless it is sold to reduce America’s national debt, which is nearing $40 trillion
- One of the White House’s top crypto advisers, Patrick Witt, described ARMA as “Version 2” of the BITCOIN Act and said the White House had spent significant time examining the legal implications
- US President Donald Trump’s March 2025 executive order called for the SBR to be housed inside the Treasury Department, while other agencies would assist with asset seizures to build the reserve
Summary
The Trump administration’s push to establish a US Strategic Bitcoin Reserve has reportedly hit a roadblock, as the Commerce and Treasury departments are at odds over how the reserve should be structured and which agency should have primary oversight of the holdings. US President Donald Trump’s March 2025 executive order called for the SBR to be housed inside the Treasury Department, while other agencies would assist with asset seizures to build the reserve. However, concerns have emerged over whether the Treasury has the legal authority to manage the Bitcoin (BTC) holdings, partly because of its volatility, Monday, citing people familiar with the matter. The Commerce Department has emerged as a contender to oversee the reserve, they said.