U.S. races 90 days to define a Bitcoin reserve’s future and risks

The U.S. government is moving forward with concrete steps to establish a strategic Bitcoin reserve, aiming to leverage digital assets for national security and economic innovation. A newly introduced bill in the U.S. House of Representatives, HR 1566, mandates the Treasury Department to conduct a feasibility study and report on the custody, legal authority, and cybersecurity measures for a federal Bitcoin reserve and broader digital asset stockpile. The bill, introduced by Representative David P. Joyce, requires the report to be submitted within 90 days of enactment.

The report must detail how the assets will be represented on the federal balance sheet, outline interagency transfer plans, and identify third-party contractors responsible for custody. It also asks for an assessment of potential implementation hurdles and the impact on the Treasury’s Forfeiture Fund, which manages assets seized by federal agencies. This initiative is part of a broader effort to integrate digital assets into the U.S. financial infrastructure, with the goal of ensuring fiscal responsibility and leveraging emerging technology.

This development follows an executive order by President Donald Trump in March, which laid the groundwork for a strategic Bitcoin reserve using government-seized crypto assets. U.S. Treasury Secretary Scott Bessent has emphasized the department’s exploration of budget-neutral methods to strengthen the reserve. The House bill now adds legislative momentum to these efforts, as it will proceed for full House consideration before moving to the Senate.

Globally, other nations are also advancing their own digital asset reserve strategies. Kazakhstan’s President Kassym-Jomart Tokayev recently announced plans to develop a state fund for digital assets, aiming to accumulate “promising assets in the new digital financial system”. Meanwhile, the Philippines’ Congress is evaluating a proposal to establish a strategic Bitcoin reserve of 10,000 BTC, potentially making it the first country in Southeast Asia to adopt Bitcoin as a strategic asset. Currently, over 517,000 BTC are held in national reserves globally, representing 2.46% of the total Bitcoin supply.

The U.S. Treasury’s mandate under HR 1566 reflects growing political and institutional interest in Bitcoin’s role as a strategic asset. Industry observers are closely monitoring how the government will define and manage these reserves, particularly as uncertainty remains regarding the practical implications for market stability and regulatory oversight. The 90-day timeline has added urgency to the discussions, with lawmakers and market participants awaiting the Treasury’s findings.