US Bitcoin Reserve Plan Stalls Amid Treasury-Commerce Turf War

The push to build a US Strategic Bitcoin Reserve has run into trouble, with the Treasury and Commerce departments disagreeing over who should manage the holdings, according to a Bloomberg report published Monday. Trump’s March 2025 executive order placed the reserve under Treasury, with other agencies helping seize assets. But officials now question whether Treasury can legally handle Bitcoin’s price swings. Commerce has stepped up as a possible replacement, while the Justice Department is reviewing the legal options.

White House Response

A White House spokesperson told the administration is still working out the best structure for the reserve and the broader Digital Asset Stockpile.

Congress Pushes Its Own Bitcoin Bills

Senators introduced the BITCOIN Act and ARMA Act in May, aiming to acquire one million Bitcoin over five years without new spending. ARMA would lock coins for 20 years unless sold to cut the national debt.

The US holds 328,372 BTC, worth about $21.1 billion, making it the largest state holder. El Salvador remains the only country with a formal, actively growing reserve.