According to the White House, the United States Federalized Bitcoin strategic and other digital asset reserves are still assessing the specific architecture. Sixteen months have passed since the Trump government ordered the start of the work in March 2025, but it has not yet been determined which department should manage the reserve and how to obtain legal support.
The Ministry of Finance and the Ministry of Commerce are all fighting for leadership.
According to Bloomberg, a major focus of the current discussion is whether the reserve should be located in the Ministry of Finance or the Ministry of Commerce. White House spokesman Liz Huston said to CoinDesk that the Government was still assessing “best structures” to implement the policy objective of Trump to make the United States a global encryption centre.
Trump had previously adopted executive orders requiring the Government to establish a Bitcoin strategic reserve and a separate national reserve covering other encrypted assets. Since then, federal agencies have been combing the United States Government ' s existing warehouse of encrypted assets and are studying a follow-up reserve-building programme.
Congress legislation is still missing.
Both current and former White House encryption advisers have indicated that legislative support from Congress is still needed if this arrangement is to have a more solid legal basis. Executive orders are not in themselves the equivalent of laws, and Congress has not yet advanced the relevant bills in substance.
This also means that, even if the executive branch completes the internal architecture design, the formal landing of the reserve plan will depend on the coordination at the legislative level. If the Republican Party loses control of the House of Representatives or both after the mid-year elections, the difficulty of moving the bill forward may increase in the short term.
The whereabouts of the bitcoin held by the government are still unclear.
The report mentions that the United States Government currently holds an estimated more than 300,000 bitcoins, or approximately $21 billion in price terms. However, it remains unclear at this stage whether these assets can be formally allocated to so-called strategic reserves.
The Trump Government referred to it as a “strategic reserve” and stressed that the relevant holdout would be held as a long-term asset, rather than being used in market emergencies, as was the case with traditional strategic reserves. This definition has also given rise to outside discussion of its practical functions.
In its original executive order, Trump also requested that the Government examine ways to increase the holding of bitcoin without using taxpayer funds. Since then, various scenarios have emerged in the market, but the relevant programmes have not yet entered the implementation phase.
In terms of market performance, the price of bitcoin would be around $93,000 if the Government started buying at the time of Trump's idea; the latest price quoted in the report was about $64,000. The encryption industry had generally agreed that the reserve scheme was largely established and that progress was slow and was disappointing to many supporters and lobbyists.