The cryptocurrency market has enjoyed tremendous growth since the emergence of Donald Trump as the President of the United States of America. During his campaign, Trump promised to make the US the world capital for cryptocurrency and digital asset innovations.
Since his inauguration, the US cryptocurrency hub has moved from regulatory uncertainty to increased innovation. By far, the president has shown huge support for the digital assets sector, propelling it into a new dawn.
Thanks to the regulatory shift, crypto businesses that once left the country during the Biden administration are returning. Similarly, institutional engagement through strategic reserves and RWAs has also been on the rise.
To an extent, these developments are a testament to some of the promises of the US president to the industry during his campaign. However, despite vowing to launch a strategic Bitcoin reserve upon his emergence during the campaign, the initiative has divided the cryptocurrency community.
Also, in March 2025, Trump signed an executive order for the establishment of a state stockpile of Bitcoin. Despite the move, the US government under Trump is yet to start buying more Bitcoin, leaving market participants and regulators alike with the question of whether the promise will ever manifest.
What Does the Proposed Strategic Bitcoin Reserve Look Like?
According to the executive order the US President signed in March, the strategic Bitcoin reserve and digital assets stockpile is aimed at positioning the country as a force to be reckoned with. With the move, Trump aims to project the US as a leader among countries in government digital asset strategy.
One thing remains clear in the plan, the US will not use taxpayers’ money to stockpile Bitcoin and other digital assets. However, the Department of Treasury and Commerce are charged with designing a “budget-neutral” model to acquire more Bitcoin.
To a large extent, the strategic bitcoin reserve will consist of BTC belonging to the Department of the Treasury. It is worth mentioning that the Bitcoin under the Department of the Treasury was seized from criminal or civil asset forfeiture. As of April 2025, CoinGecko reported that the US has 198, 012 BTC in its coffers.
Also, other federal agencies with BTC in their possession will evaluate their legal standing to commit the asset to the strategic reserve. Consequently, the US government will not sell BTC deposited to the reserve but remain as a store of reserved assets.
As per the executive order, the US Digital Asset Stockpile consists of other cryptocurrencies like ETH, XRP, SOL, ADA, and some others. Basically, the digital asset stockpile will contain virtual tokens aside from Bitcoin.
Has Trump fulfilled his promise?
According to the US President, the strategic reserve is an attempt to give the cryptocurrency space a new hope after suffering serious backlash under the previous administration. Despite signing an executive order to ensure that seized Bitcoin and other digital assets with the Department of Treasury be allotted to the reserve, crypto commentators still maintain that Trump has yet to fulfill his promise.
In their submission, the order will only prevent the US government from selling confiscated digital assets in its possession. On the flip side, the failure to acquire more Bitcoin in a similar pattern to institutional holders like Strategy and Metaplanet indicates Trump is yet to fulfill his promise.
For instance, Charles Edwards, the founder of Capriole Investments, a Bitcoin-centric hedge fund, criticized Trump’s administration for not buying more Bitcoin as part of its strategic reserve program. He said, “But also not surprising. Looks like no tangible BSR in 2025. No active buying means this is just a fancy title for Bitcoin holdings that already existed with the Govt. This is a pig in lipstick.”
Most crypto enthusiasts opposing the move expect Donald Trump to order more accumulation of Bitcoin. Without a doubt, the Trump administration has stayed true to the promise of making the US crypto capital.
Still, the US government has done little to buy more Bitcoin. Instead, Trump, through the executive order, has stopped the US from dumping confiscated digital assets.
Conclusion
On paper, Trump’s strategic Bitcoin reserve has manifested with the March 2025 executive order. Yet, a part of the crypto community is asking questions about when the Trump administration will start buying more Bitcoin.
As it stands, the only proposal driving towards the accumulation of Bitcoin by the US government is the bill by pro-crypto Republican senator, Cynthia Lummis. If approved, the legislation will see the Treasury Department buy 200,000 BTC annually for five years.
Aside from the bill, there is no clear indication that the US government under Trump will buy Bitcoin. However, the strategic Bitcoin reserve has come into play, even though it’s not what many expected.
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