U.S. Eyes Strategic Bitcoin Reserve as Global Crypto Race Heats Up

The U.S. Congress is pushing for the Treasury Department to provide a detailed report outlining the feasibility, custody, and legal considerations for the creation of a strategic Bitcoin reserve and a digital asset stockpile. The House appropriations bill, introduced by Representative David P. Joyce, mandates the Treasury to submit its findings within 90 days of the bill’s enactment. This report must address the technical aspects of asset management, interagency transfers, and third-party custodial responsibilities, as well as potential implementation challenges and impacts on the Treasury’s forfeiture fund [3].

The initiative follows a March executive order by President Donald Trump, which instructed the Treasury to establish a Bitcoin reserve using confiscated digital assets. Treasury Secretary Scott Bessent has confirmed that the agency is exploring ways to grow the reserve without additional budgetary costs. If the bill passes in the House and is subsequently considered by the Senate, it could mark a significant step toward formalizing the U.S. government’s approach to digital asset storage and strategic reserves [3].

The proposed legislation emphasizes the importance of cybersecurity and legal oversight in managing these assets. The report will assess how the Treasury plans to protect digital assets from cyber threats and ensure compliance with existing federal regulations. It will also clarify how the assets will be accounted for on the federal government’s balance sheet, providing transparency to both Congress and the public [3].

The U.S. is not alone in pursuing a digital asset reserve. Countries such as Kazakhstan and the Philippines have also shown interest in building strategic crypto reserves. President Kassym-Jomart Tokayev of Kazakhstan announced plans to establish a state digital asset fund to accumulate a strategic reserve of promising digital assets, including Bitcoin. This initiative aligns with broader efforts to expand the use of the digital tenge and strengthen the country’s digital financial infrastructure [1].

Meanwhile, the Philippines is reportedly considering a proposal to hold a strategic reserve of 10,000 Bitcoin, which could position it as the first nation in Southeast Asia to adopt Bitcoin as part of its official reserves. According to Bitbo, over 517,000 BTC—representing 2.46% of Bitcoin’s total supply—is already held in national reserves by various countries [3].

The global trend toward establishing digital asset reserves reflects growing recognition of cryptocurrencies as a strategic financial tool. As the U.S. moves to formalize its approach, the Treasury’s upcoming report will be a critical document shaping future policy and ensuring that the nation’s digital asset strategy is both secure and sustainable [3].

Source:

[1] Kazakhstan to Establish State Cryptocurrency Reserve (https://forklog.com/en/kazakhstan-to-establish-state-cryptocurrency-reserve/)

[2] Kazakhstan to Establish State Bitcoin Reserve Fund (https://bitbo.io/news/kazakhstan-bitcoin-reserve-fund/)

[3] US Lawmakers Seek Treasury Report Ironing Out Details of Bitcoin Reserve (https://cointelegraph.com/news/us-lawmakers-seek-treasury-report-ironing-out-details-bitcoin-reserve)