Exploring the Prospects of a Strategic Bitcoin Reserve in the US
In an intriguing development, a new legislative proposal introduced on Tuesday seeks to mandate the US Treasury to assess the technical and legal feasibility of establishing a Strategic Bitcoin Reserve (SBR). This initiative has reignited a policy conversation that has been gaining momentum throughout this year.
Earlier this year, in March, former US President Donald Trump signed an executive order aimed at creating a framework for a Strategic Bitcoin Reserve and a US Digital Asset Stockpile. However, a detailed implementation plan is still awaited. Alex Thorn, who leads firmwide research at Galaxy Digital, believes there is a substantial possibility that the US will officially announce an SBR by the end of the year, though some market insiders consider this outlook overly optimistic.
I still think there’s a strong chance the U.S. government will announce this year that it has formed the strategic bitcoin reserve (SBR) and is formally holding BTC as a strategic asset. The market seems to be completely underpricing the likelihood of such an announcement. — Alex Thorn (@intangiblecoins) September 11, 2025
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Progress on Multiple Fronts Reported
Recent reports have indicated that the administration’s cryptocurrency liaison confirmed a continued interest in advancing this initiative, despite its brief mention in a recent policy document.
Yes, I mean the U.S. government announcing, not Bessent’s offhand comment on TV. That comment gave us hints of where they think the size of the reserve stands but is not a formal announcement of the SBR. — Alex Thorn (@intangiblecoins) September 11, 2025
On August 6th, Bitcoin Indonesia engaged in discussions with officials regarding the potential economic benefits of a state-level strategy. Additionally, Kyrgyzstan has made strides by proposing legislation to establish a national crypto reserve, demonstrating that other nations are actively exploring similar initiatives.
Concerns Over Potential Delays
However, not everyone is optimistic about the timeline. Samson Mow, founder of Jan3, has emphasized the need for swift action, cautioning that delays could allow other countries to secure significant Bitcoin holdings first. Dave Weisburger, former chairman of CoinRoutes, suggests that any formal US Bitcoin reserve might not materialize until 2026.
He suggests that an administration looking to build a position would likely keep such plans confidential until an initial accumulation target is achieved.
Market Considerations and Speculation
Alex Thorn has pointed out on X that the market may be undervaluing the probability of a US announcement, which could significantly impact demand dynamics if the government signals its intention to hold Bitcoin as a strategic asset. While some traders may view this as a bullish development, others are concerned about potential regulations, taxes, or custody frameworks that might follow.
The secrecy surrounding any acquisition plan further complicates market interpretations. If accumulation is happening behind the scenes, market reactions could be substantial when the government makes its intentions public.
Geopolitical Implications and International Developments
Beyond market effects and timing, the issue carries geopolitical significance. Countries in Central and Southeast Asia are actively deliberating national crypto reserves, with officials in Jakarta expressing interest in leveraging Bitcoin-related strategies for economic purposes. This international activity heightens the political stakes for decision-makers in Washington.
For now, the situation remains fluid. Executive orders and legislative proposals hint at progress, yet public statements from officials and analysts reveal differing opinions on when—or if—the US will formalize its holdings. At the time of writing, Bitcoin was trading at $116,058, reflecting a daily increase of 0.9% and a weekly gain of 4.8%.
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