US Treasury moves ahead with strategic Bitcoin reserve

U.S. Treasury Secretary Scott Bessent told lawmakers that the department is advancing plans to establish a strategic Bitcoin reserve and a broader digital asset stockpile, building on an executive order issued by President Donald Trump in 2025. Bessent made the remarks during a Senate Finance Committee hearing on the Treasury Department’s fiscal year 2027 budget.

Bessent stated the department is proceeding with “all deliberate speed” on the initiative, which he described as new technology and new ground. He emphasized the importance of integrating best practices to ensure the program’s durability over time. Officials indicated the reserve has so far been populated with cryptocurrency seized by the government through law enforcement actions, and no additional acquisition plans were disclosed as of March.

The United States currently holds an estimated 328,372 Bitcoin in its reserves. The reserve was created by executive order, which directs officials to explore budget-neutral ways to add more Bitcoin and bars the Treasury from selling the coins currently held.

During the hearing, Bessent also urged Congress to pass the Digital Asset Market Clarity Act, a major piece of legislation...