U.S. Has No Plans to Acquire Bitcoin, Affirms Treasury Secretary Bessent
The U.S. government has decided not to purchase additional Bitcoin using budget funds after its initial plans, but continues to grow its Bitcoin holdings exclusively through confiscated assets from criminal and civil proceedings. The current U.S. government Bitcoin reserve comprises approximately 198,000 to 200,000 BTC, valued between $15 billion and $20 billion as of mid-2025.
In March 2025, President Trump signed an executive order establishing the Strategic Bitcoin Reserve (SBR), intended to be built primarily from Bitcoin seized from criminal activities, not direct government purchases funded by taxpayer money. Treasury Secretary Scott Bessent clarified that while there are no plans for outright Bitcoin purchases funded by the budget, the Treasury is committed to exploring budget-neutral ways (e.g., through seized assets or other non-taxpayer means) to expand the reserve.
The reserve currently holds roughly 198,022 BTC, which forms the foundation of the SBR. These assets are not to be sold but replenished as additional seized assets become available. In addition to the federal reserve, some states like Texas have also initiated their own Strategic Bitcoin Reserves, with allocated funds and capital from seized assets, highlighting a multi-level government interest in cryptocurrency holdings.
However, no new plans to purchase additional Bitcoin have been indicated since Bo Hines, executive director of the President's Working Group on Digital Assets, departed from his White House role earlier this week. Hines, who was one of the most consistently vocal White House officials on the subject of purchasing Bitcoin, had previously stated his desire for the Trump administration to acquire as much Bitcoin as possible.
The prospect of federal government Bitcoin purchases has thrilled many Bitcoin holders due to potential legitimacy and deflationary impact. Despite the absence of new plans, the U.S. government's current Bitcoin holdings are estimated to be worth between $15 billion to $20 billion at current prices. It remains to be seen whether the U.S. government will consider budget-neutral methods for future Bitcoin acquisitions.
[1] CoinDesk. (2025, March 23). U.S. Government Establishes Strategic Bitcoin Reserve. [online] Available at: https://www.coindesk.com/us-government-establishes-strategic-bitcoin-reserve
[2] Reuters. (2025, April 5). U.S. Treasury Secretary Clarifies No Budget-Funded Bitcoin Purchases. [online] Available at: https://www.reuters.com/business/us-treasury-secretary-clarifies-no-budget-funded-bitcoin-purchases-2025-04-05/
[3] CNBC. (2025, May 12). Scott Bessent Discusses U.S. Government's Bitcoin Holdings on Fox Business. [online] Available at: https://www.cnbc.com/2025/05/12/scott-bessent-discusses-us-government-bitcoin-holdings-on-fox-business.html
[4] Bloomberg. (2025, June 15). Texas Joins U.S. Government in Building Strategic Bitcoin Reserves. [online] Available at: https://www.bloomberg.com/news/articles/2025-06-15/texas-joins-us-government-in-building-strategic-bitcoin-reserves
[5] Forbes. (2025, July 20). The Impact of U.S. Government's Bitcoin Holdings on the Cryptocurrency Market. [online] Available at: https://www.forbes.com/sites/jasonbrett/2025/07/20/the-impact-of-us-governments-bitcoin-holdings-on-the-cryptocurrency-market/?sh=6508686e592e
- Even though the U.S. government has decided against purchasing additional Bitcoin with budget funds, the Strategic Bitcoin Reserve (SBR) continues to grow through confiscated assets.
- As of mid-2025, the U.S. government holds approximately 198,000 to 200,000 Bitcoin, which is valued between $15 billion and $20 billion.
- In March 2025, President Trump signed an executive order to establish the SBR, intended primarily to be built from Bitcoin seized from criminal activities.
- Treasury Secretary Scott Bessent clarified that while there are no plans for outright Bitcoin purchases funded by the budget, the Treasury is exploring budget-neutral methods to expand the reserve.
- The prospect of federal government Bitcoin holdings has excited many Bitcoin holders, potentially lending legitimacy and creating a deflationary impact.
- In addition to the federal reserve, some states like Texas have started their own Strategic Bitcoin Reserves, making use of seized assets for capital accumulation, signifying a broad government interest in digital assets and cryptocurrency.
