U.S. lawmakers have proposed a bill instructing the Treasury Department to assess and report on the feasibility and technical requirements of a Strategic Bitcoin Reserve and a U.S. digital asset stockpile, as ordered by former President Donald Trump.
The House appropriations bill, introduced Friday by Representative David P. Joyce, includes two provisions directing the Treasury to submit a report within 90 days of the bill’s passage. The report is to cover the feasibility, custody arrangements, legal authority, and cybersecurity measures for digital assets held by the federal government.
The bill also directs the Treasury Department to outline plans for interagency transfers, how the assets will be reflected on the federal government’s balance sheet, and any third-party contractors responsible for custody. It further requires the agency to identify potential obstacles to implementation and assess the impact of the reserve on the Treasury Forfeiture Fund.
In March, former President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve and a digital asset stockpile, using crypto confiscated by the government to fund both initiatives. Treasury Secretary Scott Bessent has emphasized that the department is also exploring “budget-neutral pathways” to expand the Bitcoin reserve.
The new legislation marks progress in the U.S. effort to create a Bitcoin reserve. It will be reviewed by the full House, and if passed, will advance to the Senate. Representative David P. Joyce expressed his gratitude on X on Thursday toward the House Appropriations Committee for moving the bill forward, stating:
“This legislation ensures the federal government is fiscally responsible, leverages new technology, and is focused on national security.”
Global Moves Toward Crypto Reserves
Internationally, countries are stepping up efforts to establish crypto reserves. In Central Asia, Kazakhstan’s President Kassym-Jomart Tokayev announced plans to create a state fund for digital assets aimed at accumulating “promising assets in the new digital financial system.”
In Southeast Asia, the Philippines’ Congress considered a proposal in August to establish a strategic reserve of 10,000 Bitcoin, potentially making it the first country in the region to adopt Bitcoin as a strategic asset.
Globally, countries currently hold over 517,000 BTC in reserves, representing approximately 2.46% of Bitcoin’s total supply, according to Bitbo.
