The Trump Government ' s plan to promote a strategic bitcoin reserve has not yet entered the implementation phase. There is ongoing coordination within the White House and a review of the relevant legal basis for the federal department in which the Government has confiscated the bitcoin.
The Ministry of Finance and the Ministry of Commerce are discussing the scope. Internal
By reference to sources, Bloomberg argued that the current debate was focused on whether the Ministry of Finance had sufficient legal authority to manage highly volatile digital assets as federal reserve assets. In addition to the Ministry of Finance, the Ministry of Commerce is considered one of the potential administrations.
Reports indicate that the Office of the Legal Adviser of the Ministry of Justice, in cooperation with the Ministries of Finance and Commerce, is working on a structure that meets legal requirements. This means that the reserve plan has not been put on hold, but specific control has not yet been finalized.
The executive orders have been set and the details of their execution have not been dropped.
An executive order signed by Trump in March 2025 established a special office of the Minister of Finance to manage the strategic Bitcoin reserve. This reserve will be included in bitcoin confiscated through criminal or civil proceedings, including related assets controlled by federal agencies.
At the same time, the executive order requires that Government bitcoin included in the reserve not be sold in principle, but retained as a reserve asset. However, the document also requires the Ministry of Finance to assess specific issues at the legal and investment levels, including where the accounts should be located and whether further legislative support from Congress is required.
Congressional legislation and trusteeship remain key
The White House spokesperson stated to CoinDesk that the Government was still assessing the best form of organization of strategic bitcoin reserves and the United States digital asset bank. Previously, Patrick Witt, a White House encryption consultant, had stated that the Government had made progress in legal arrangements and hosting guarantees, but the update showed that the overall structure had not yet been finalized.
In addition to internal coordination within the executive branch, Congress has attempted to incorporate this reserve into the law. The previously disclosed United States Reserve Modernization Act envisages the Treasury Department operating the Bitcoin reserve and requires that it be held for at least 20 years, with the introduction of arrangements such as audits, certificates of reserves and budget purchase reviews.
According to BitcoinTreasuries, as at 7 July, the United States Government held 328,372 BTCs, estimated at $20.7 billion at current prices, the largest government entity known to hold a currency. The focus of the current debate is not on whether to continue buying bitcoin, but on who should legally control the seized BTC and how to keep it.