The Strategic Bitcoin Reserve of the United States still lacks a definitive structure, even 16 months after the executive order signed by the current U.S. president, Donald Trump. Although the initiative was introduced in March 2025 as an important step to expand the country's participation in the cryptocurrency market, the government is still deciding which agency will be responsible for managing the reserve.
The discussions mainly involve the Department of the Treasury and the Department of Commerce, which advocate for different models to manage both the Bitcoin reserve and the federal stock of other cryptocurrencies. Defining the structure is considered an essential step before the official implementation of the project.
Since the announcement of the measure, different federal agencies have conducted a survey of the digital assets already controlled by the U.S. government. Despite this work, the exact amount of Bitcoin and other cryptocurrencies remains confidential, with no public disclosure.
"President Trump campaigned with the vision of consolidating the United States as the global capital of cryptocurrencies and other cutting-edge technologies," said White House spokesperson Liz Huston in a statement sent to CoinDesk. "To fulfill the president's vision, the Trump administration continues to evaluate the best structure for a Strategic Bitcoin Reserve and a U.S. Digital Asset Stock."
In addition to determining which department will manage the assets, the creation of the reserve depends on Congress. White House officials responsible for cryptocurrency policy have already stated that specific legislation will be needed to provide permanent legal security to the project, since an executive order can be changed by future administrations.
While proposals related to digital assets remain under discussion in the House of Representatives and the Senate, possible changes in the composition of Congress after the legislative elections may further delay the approval of the initiative.
Another point that remains undefined is the transfer of the bitcoins already belonging to the government into the future reserve. Market estimates indicate that the United States controls more than 300 thousand BTC, valued at about US$ 21 billion, but there is still no official timetable to incorporate these assets into the strategic fund.
The proposal envisions that these bitcoins will be kept as a long-term reserve, serving as a strategic asset of the government, and not as a resource intended for interventions in times of economic instability.
In the executive order signed in 2025, Donald Trump also directed his team to study ways to expand the Bitcoin reserves without using taxpayer resources. Several alternatives have been analyzed since then, but no definitive strategy has been announced.
The delay in implementing the Strategic Bitcoin Reserve has created expectations among companies and investors in the cryptocurrency market, who anticipated a faster execution of the plan presented by the White House. In parallel, the most recent financial statement from the current U.S. president shows that Trump holds more than US$ 50 million in Bitcoin, while the federal reserve project remains in the structuring phase.