According to Bloomberg, the Trump administration's initiative to establish a Strategic Bitcoin Reserve (SBR) in the U.S. has faced obstacles due to disagreements among departments regarding its structure and oversight.

While a presidential directive from March 2025 proposed housing the SBR within the Treasury Department, concerns arose about whether a government entity has the legal authority to manage volatile digital gold reserves. As a result, the Department of Commerce has emerged as the next contender.

The Department of Justice is collaborating with both departments to explore legally viable options while the White House continues to assess the optimal structure for implementing the plan aimed at making the U.S. the "crypto capital of the world."

According to Bitcoin Treasuries, as of the time of writing, the U.S. holds the largest state reserve of 328,372 BTC, valued at approximately $21 billion.

Source: Bitcoin Treasuries.

Simultaneously, Congress is advancing the BITCOIN Act and the American Reserve Modernization Act of 2026 (ARMA), which aim to acquire 1,000,000 BTC over five years using budget-neutral strategies. Under ARMA, the assets must be held for at least 20 years, although theoretically, their sale to reduce the U.S. national debt, which is nearing $40 trillion, is not ruled out.

Despite interdepartmental disagreements, representatives from the crypto industry remain optimistic. As noted by Tim Kotzman, host of the Bitcoin Treasuries podcast:

“The Strategic Bitcoin Reserve isn’t just bullish for Bitcoin. It validates an entirely new category of capital allocation. Public companies moved first. Nation states are beginning to follow.”

The Strategic Bitcoin Reserve isn’t just bullish for Bitcoin.

It validates an entirely new category of capital allocation.

Public companies moved first.
Nation states are beginning to follow. https://t.co/zAfAh5mdzJ

— Tim Kotzman (@TimKotzman) July 6, 2026