Can a Strategic Bitcoin Reserve Move Forward Without Congress? Experts Disagree
The U.S. government currently holds 208,109 bitcoin, valued at over $19 billion, acquired through criminal confiscations. Former President Trump proposed that the government retain all bitcoin it holds or acquires, but no formal method for this policy exists. Coordination among various agencies would be necessary, and changes may require Congressional approval. Senator Lummis has suggested selling a portion of gold reserves to buy 1 million bitcoin, potentially costing $90 billion. While some believe the bill could pass with Republican control, others doubt its priority in Congress. A legal theory suggests the Treasury could acquire bitcoin via the Exchange Stabilization Fund without direct market purchases. Current betting odds indicate a 30% chance the government will hold bitcoin reserves by early 2025.
