Progress is being made towards establishing a strategic Bitcoin (BTC) reserve in the United States, but “unclear” legislation is holding up the process, according to Patrick Witt, director of the White House Crypto Council.
Several government agencies are discussing legal and regulatory issues related to the creation of a Bitcoin Strategic Reserve, including the Department of Justice (DOJ) and the Office of Legal Counsel (OLC), Witt he said Crypto in America podcast. He said:
“It seems simple, but then we get to the vague legalities and explain why this agency can’t do it, but in fact another agency could do it. We’re still pushing for it. It’s certainly still on the priority list right now.”
US President Donald Trump signed an executive order in March 2025 establishing a strategic bitcoin reserve and a “digital asset stockpile” that would include altcoins and other types of cryptocurrencies.
The creation of a sovereign Bitcoin reserve would be a landmark moment for the world’s first digital currency. However, some members of the Bitcoin community were critical of the executive order, criticizing the Trump administration for not keeping its promises.
Related: Sygnum predicts that tokenization and Bitcoin state reserves will start in 2026
The Bitcoin community feels hurt by the announcement of the strategic reserve
Trump’s executive order stipulated that the US government would not sell any of its Bitcoin holdings, but would only replenish the strategic reserve via BTC seized in asset forfeiture cases.
The executive order does not allow the government to acquire more Bitcoin or digital assets on the open market, which has drawn criticism from the Bitcoin community.
“Believing that the federal government will one day build a strategic bitcoin reserve requires a complete disconnect from reality” – Bitcoin maximalist Justin Bechler he said.
“There is no move towards a Bitcoin reserve. There is no bona fide intention to acquire fixed supply assets. There is only empty speeches, vague references and opportunistic adulation from Washington politicians,” he added.
In July 2025, the Trump administration published the long-awaited document report on the Digital Assets Policy, which did not include additional details on the BTC Strategic Reserve, which sparked further backlash from the Bitcoin community.
US Treasury Secretary Scott Bessent proposed in August 2025 that the government could acquire BTC as part of budget-neutral strategies that do not augment the annual budget deficit.
The statement renewed hope that the U.S. government could begin purchasing BTC on the open market by converting some of its other reserve assets to BTC or revaluing its previous metal holdings and using those gains to acquire more Bitcoin.
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