U.S. lawmakers advance Strategic Bitcoin Reserve initiative
Lawmakers in Washington are moving forward with President Donald Trump’s plan to create a Strategic Bitcoin Reserve and federal digital asset stockpile.
On Friday, Representative David P. Joyce introduced a House appropriations bill that directs the Treasury Department to produce a comprehensive report within 90 days of enactment. The report must address feasibility, custody, legal authority, cybersecurity, and interagency transfer mechanisms for government-held digital assets. It will also examine how reserves are recorded on the federal balance sheet, identify any third-party custody providers, and assess the potential impact on the Treasury Forfeiture Fund.
Building on Trump’s March executive order
The proposal builds on Trump’s March executive order establishing a Bitcoin reserve funded by confiscated crypto assets. Treasury Secretary Scott Bessent has said the department is exploring “budget-neutral pathways” to expand the reserve without straining federal finances.
If passed by the House, Joyce’s bill would advance to the Senate for consideration, marking a step toward formalizing the U.S. government’s role as a strategic holder of digital assets. Joyce praised the Appropriations Committee for backing the initiative, saying the legislation ensures the federal government is “fiscally responsible, leverages new technology, and is focused on national security.”
Global momentum for state crypto reserves
The U.S. effort comes as other nations pursue their own sovereign crypto strategies. Kazakhstan’s President Kassym-Jomart Tokayev announced plans this week to create a state fund for digital assets, framing it as a way to accumulate “promising assets in the new digital financial system.” In Southeast Asia, the Philippines’ Congress has debated establishing a reserve of 10,000 Bitcoin, which would make it the region’s first state-level Bitcoin treasury.
Currently, sovereign and government-linked entities worldwide hold more than 517,000 BTC, representing about 2.46% of Bitcoin’s total supply. This growing trend underscores the perception of Bitcoin as an emerging strategic reserve asset on the global stage.
Recently we wrote that Eric Trump has doubled down on his family’s pro-crypto stance, telling attendees at a Seoul event hosted by Upbit that cryptocurrency investors are “on the one-yard line” of a financial revolution.
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