/>iFollowing President Trump’s March 6 Executive Order establishing a Strategic Bitcoin Reserve, released alongside a White House Briefing, the U.S. government has taken its most formal step yet toward integrating digital assets into national economic and security policy. The order outlines a broader strategy to manage and expand the federal government’s holdings of Bitcoin and other designated cryptocurrencies through the creation of a Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile.
While many details remain forthcoming, existing government practices around crypto asset custody, combined with reporting on the administration’s plans, offer a glimpse into how the reserve may operate in practice.
Bitcoin: The Foundation of the Reserve
The executive order calls for the formation of a Strategic Bitcoin Reserve, leveraging the U.S. government’s existing crypto holdings—estimated to exceed 200,000 BTC based on seizures of crypto in connection with illicit activities. These assets are already under federal control and provide a ready base for the reserve.
The Department of Justice (DOJ) has historically overseen management of some of the U.S. government’s crypto assets under its Digital Asset Forfeiture Program. The U.S. government has also contracted with third-party institutional crypto custodians to provide secure custody, wallet management, and liquidation services for seized crypto assets. The U.S. Marshals Service, a unit of the DOJ, has also periodically offered crypto for sale, just as it does with artwork, vehicles and other assets forfeited to the government in various criminal, civil and administrative cases.
However, the White House Briefing points out shortcomings in the U.S. government’s current crypto asset management protocols, including that assets are scattered across multiple Federal agencies, leading to a non-cohesive approach where options to maximize value and security of crypto holdings have been left unexplored. Additional measures could include multi-signature wallet storage, layered access controls, segregated storage (as opposed to pooling crypto assets in one omnibus wallet), strategic portfolio management, and specialized regulatory oversight via the Presidential Working Group on Digital Asset Markets.
Beyond Bitcoin: The Digital Asset Stockpile
In addition to Bitcoin, the executive order also calls for the creation of a U.S. Digital Asset Stockpile, which will include four cryptocurrencies, reportedly selected for their market relevance, technical resilience, and utility in decentralized finance (DeFi) and cross-border settlement use cases. The rationale, as outlined in a White House briefing, is to ensure the United States maintains influence and optionality in emerging blockchain ecosystems while encouraging domestic innovation.
To date, no details have surfaced regarding a formal acquisition program for these assets or how the crypto asset portfolio will be managed.
Putting It Into Practice: The launch of the Strategic Bitcoin Reserve and Digital Asset Stockpile marks a watershed moment in U.S. crypto policy. This policy signals a clear shift toward legitimizing digital assets as sovereign financial instruments and could prompt other nations to consider similar reserves (for our previous discussions on recent developments in the ongoing shift in U.S. crypto policy, see here, here, here, and here). This development also suggests the U.S. intends to play an active role in shaping global crypto governance—not only through regulation, but also through participation and ownership.
