TLDR:
- Update: As of June 27, 2025, the U.S. Senate has confirmed that the government has completed an inventory of its Bitcoin holdings, begun building infrastructure, and is considering budget-neutral strategies to accumulate more BTC, marking significant progress on the Strategic Bitcoin Reserve.
- Context: This development follows months of silence since the reserve’s establishment in March, with President Donald Trump’s campaign promises and initial altcoin-focused executive order facing backlash, leading to a refocus on Bitcoin.
After months of silence, the U.S. government has finally broken its information vacuum regarding the Strategic Bitcoin Reserve, established in March 2025. Since his campaign, President Donald Trump has frequently highlighted Bitcoin in national financial strategies, with the idea of a Bitcoin Reserve akin to gold or oil reserves becoming a major goal for crypto advocates. The initial Trump administration’s executive order, which leaned heavily towards altcoins rather than Bitcoin, sparked controversy and fierce opposition from the crypto community and voters, prompting a strategic realignment.
In a recent Senate Banking Committee press conference, Bo Hines, Executive Director of the Presidential Crypto Advisory Council, confirmed that the inventory phase of Bitcoin held by federal agencies has been completed. This marks a crucial step forward, as Hines emphasized that the U.S. has now finished cataloging the Bitcoin in its possession, paving the way for the practical construction of Bitcoin Reserve infrastructure.
“Now is the time to start establishing the infrastructure for the Bitcoin Reserve. We are very interested in accumulating more Bitcoin because we believe it is a strategic benefit for the United States. Of course, this process must ensure budget neutrality, but we have many creative minds ready to tackle that challenge,” Hines stated. He also hinted at the possibility of the White House publicly disclosing the amount of BTC held by federal agencies to enhance transparency and build trust with the public and the market.
David Sacks, Trump’s Crypto and AI Policy Advisor, previously revealed that the U.S. government holds approximately 200,000 BTC, though this figure has never been audited. Another source suggested that the Department of Justice cannot even accurately determine the Bitcoin it manages. Despite having a certain amount of BTC seized from criminal activities, the government still needs a clear mechanism to accumulate more if it aims to build a sufficiently large reserve. Hines noted that various options are under consideration, including potential collaborations with the private sector or leveraging existing resources without increasing the budget deficit.
However, the Bitcoin Reserve was not the primary focus of the press conference. Senators Tim Scott and Cynthia Lummis, who chaired the event, concentrated more on pressing legal issues in Congress, particularly crypto-related bills awaiting passage. The GENIUS Act, a crucial stablecoin regulation bill, has already passed the Senate and is awaiting House consideration. Additionally, the Market Structure Bill, aimed at establishing a framework for the crypto market, is being expedited with a target passage before the end of September 2025.
The pro-crypto faction in Congress is currently all-in on these foundational legal battles. Without a clear regulatory framework, any efforts to build a Bitcoin Reserve or pursue other crypto strategies risk being undermined from the outset. This context underscores the importance of the Senate’s confirmation of progress on the Bitcoin Reserve, as it aligns with broader efforts to legitimize and integrate cryptocurrencies into the U.S. financial system.
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