U.S. Lawmakers Seek Feasibility Report On Strategic Bitcoin Reserve And Digital Asset Stockpile

Lawmakers in the U.S. House of Representatives have introduced a bill that directs the Department of the Treasury to produce a feasibility and technical considerations report on the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile proposed by President Donald Trump.

The House appropriations bill, introduced last Friday by Rep. David Joyce of Ohio, contains two sections that require the Treasury to study the feasibility while outlining custody, cybersecurity, legal authority, and accounting measures for digital assets held by the federal government within 90 days of its enactment.

The bill has been approved by the House Appropriations Committee and placed on the Union Calendar, which is the docket for House measures involving spending and revenue that are eligible for a floor vote.

House Appropriations Bill Directs U.S. Treasury to Share Plans on Strategic Bitcoin Reserve and Digital Asset Stockpile

Sections 137 and 138 of the bill instruct the Treasury Department to produce a 90-day plan covering interagency procedures, how the assets will be represented in the government’s balance sheet, cybersecurity protocols, and all third-party contractors assigned to custody the cryptocurrencies. It also demands to know the impact the strategic reserve will have on the Treasury Forfeiture Fund and the authorities that could enable asset transfers.

In March, President Trump signed an executive order establishing a U.S. Strategic Bitcoin Reserve and National Digital Asset Stockpile, which would comprise crypto assets confiscated by the federal government through civil forfeiture and criminal lawsuits. Last month, Treasury Secretary Scott Bessent reiterated that his agency is working on “budget-neutral” ways to buy Bitcoin for the strategic reserve that do not impose incremental costs on taxpayers, while clarifying that the assets forfeited to the government would form its foundation.

One of the accumulation strategies explored is the re-evaluation of the Treasury’s gold certificates and tariff revenues. While no action has been taken on the buying side, Bessent confirmed that the U.S. does not plan to sell its existing Bitcoin holdings. According to BitBo’s Bitcoin Treasuries dashboard, the government holds 198,012 BTC, currently valued at $23.5 billion, in multiple wallets controlled by various federal law enforcement agencies.

Rep. Joyce expressed his gratitude toward the House Appropriation Committee for advancing the bill in an X post, stating that the legislation would ensure that the federal government is “fiscally responsible, leverages new technology, and is focused on national security.”

Speaking to crypto media outlet Decrypt, Kurt Watkins, founder of tech-focused law firm Wtkins Legal, said that if the bill passes, it will mean that the Treasury tackles the same operational and legal challenges faced by every institutional custodian in the digital asset space. He noted that once the model is established, the agency would define custody standards, key management practices, and accounting treatment for Bitcoin at the federal level, with those same choices setting the baseline for the broader crypto industry.

Kazakhstan and the Philippines Explore Strategic Bitcoin and Crypto Reserve

However, progress on the Strategic Bitcoin Reserve and Digital Asset Stockpile has been relatively slow, with concerned voices saying that the U.S. could be front-run by other nation-states. Some fear that the Treasury may not even follow through on the plan.

On Monday, President Kassym-Jomart Tokayev of the Republic of Kazakhstan announced plans for the country’s AI and digital asset endeavors, which include establishing a strategic cryptocurrency reserve. During an annual address, he urged his administration to create a fully-fledged digital asset ecosystem “as soon as possible” that would accumulate “promising assets in the new digital financial system.”

Meanwhile, last month, it was reported that the Philippine government is considering a proposal to establish a strategic reserve consisting of 10,000 BTC, which would make it the first country in Southeast Asia to adopt the apex cryptocurrency as a strategic asset.

According to data from Bitbo, nation-states hold approximately 517,000 BTC in their respective reserves, worth $58.2 billion and amounting to 2.46% of Bitcoin’s total circulating supply of 19.91 million coins.

Rep. Joyce’s bill now awaits consideration on the House Floor, where its progress will depend on wider negotiations over federal spending.

At the time of writing, Bitcoin (BTC) is trading at $112,603, up 0.58% in the last 24 hours.