🏛️ Congress Demands Detailed Report on Creation of Bitcoin Strategic Reserve
US lawmakers have taken a significant step in shaping national cryptocurrency policy by introducing a new bill requiring the US Department of the Treasury to conduct an in-depth study and prepare a comprehensive report on the creation of a strategic Bitcoin reserve. The document is intended to clarify the technical and legal aspects of implementing the initiative, first outlined by former President Donald Trump’s executive order, and to explain how a digital asset reserve would function within the federal financial system.
According to the bill, the Treasury Department will have 90 days to deliver a full analysis covering all key aspects — from legal frameworks and cybersecurity to interagency coordination and accounting of cryptoassets on the federal government’s balance sheet.
Who Introduced the Bill and Key Requirements
The bill was introduced by Representative David P. Joyce. It consists of two major sections, each requiring the Treasury to provide a detailed and comprehensive report within 90 days of the bill’s enactment.
The Treasury must examine in detail:
- the feasibility of the project and the legal authority to establish a strategic reserve;
- cybersecurity measures to ensure the protection of digital assets held by the federal government;
- mechanisms for interagency fund transfers and coordination with other agencies;
- accounting of assets on the federal government’s balance sheet and the possible use of third-party contractors for crypto custody;
- potential obstacles to implementation;
- the impact of the strategic reserve on the Treasury’s Forfeiture Fund.
Background: From Confiscated Assets to a National Reserve
In March 2023, President Trump signed an executive order to create a strategic Bitcoin reserve and a digital asset vault. The reserve was to be funded primarily with cryptocurrencies confiscated by the government. Treasury Secretary Scott Bessent confirmed that the department is exploring “budget-neutral methods” of building the reserve, meaning it intends to do so without additional strain on the federal budget.
If passed, the new bill would represent a concrete step toward realizing America’s plan to create a strategic Bitcoin reserve. Following approval in the House of Representatives, the bill will move to the Senate for further consideration.
Global Context: The Race for Crypto Reserves
The US is not the only country considering a state cryptocurrency reserve. On September 8, Kazakhstan’s President Kassym-Jomart Tokayev announced plans to develop the country’s crypto sector, including the creation of a strategic reserve. The initiative proposed establishing a state digital asset fund to accumulate “promising assets in the new digital financial system.”
In August, the Philippine Congress considered a proposal to establish a strategic reserve of 10,000 Bitcoins. If implemented, the Philippines would become the first Southeast Asian nation to adopt Bitcoin as a strategic reserve asset.
According to Bitbo analysts, countries currently holding Bitcoin in their reserves collectively possess more than 517,000 BTC — about 2.46% of the total supply. This figure highlights growing state-level interest in Bitcoin as a reserve asset.
Distribution of Bitcoin by reserve categories. Source: Bitbo
Structure of the Reserve and Asset Allocation
The bill also calls for detailed allocation of Bitcoin within the reserve. The Treasury’s analysis must outline how assets will be structured — what portion will be held as liquid reserves, what will be invested in long-term instruments — as well as assess associated risks and potential returns.
🔍 Conclusion: From Declarations to Implementation
The adoption of the bill marks a shift from bold declarations to concrete steps in creating a strategic Bitcoin reserve. The Treasury’s detailed report will show how seriously the US is approaching the integration of digital assets into the federal financial system, what technologies and processes will be used to safeguard and manage assets, and how these initiatives could affect both the global cryptocurrency market and the US’s position as the world’s leading economy in the digital age.
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