One of the Trump administration’s most ambitious crypto promises has hit an internal roadblock. Efforts to establish the US Strategic Bitcoin Reserve (SBR) have reportedly stalled, not due to a lack of Bitcoin - but because two major government departments are wrestling over who gets control.
According to a Monday report from Bloomberg citing sources familiar with the matter, the Department of Commerce and the Department of the Treasury are at odds over the management structure and which agency holds primary authority over the reserve.
Initial Order vs. Reality on the Ground
Trump’s March 2025 executive order originally placed the SBR under the Treasury Department, with other agencies merely assisting in asset forfeiture to fund the reserve. In practice, however, concerns have emerged over whether the Treasury truly has the statutory authority to manage Bitcoin holdings - partly due to the asset’s highly volatile nature.
The Department of Commerce has now emerged as an alternative candidate to oversee the reserve. Meanwhile, the Department of Justice is reportedly working with both departments to map out available legal options for the SBR framework. In other words, the blueprint is still being hashed out by government lawyers.
From ‘Scam’ to ‘Big Crypto Person’
Ironically, this impasse comes as Trump himself becomes increasingly vocal about crypto. On the sidelines of an Oval Office press conference regarding ‘Trump Accounts’ - investment accounts for minors under 18 - Trump was asked about Bitcoin and gave a candid answer.
“I became a big crypto person for one reason: If we don’t have it, China is going to have it… I got involved a little bit because of politics… I realized there are a lot of people that love crypto,” he said. The statement stands in stark contrast to his stance during his first term, when he claimed he was ‘not a fan’ and once even labeled Bitcoin ‘a scam.’
What is noteworthy is not just whether the SBR ultimately materializes, but the underlying message behind the gridlock: holding Bitcoin as a national reserve is not merely a matter of political will, but of who is willing to shoulder an asset whose price can swing wildly overnight. This power struggle in Washington is only the opening chapter.
Via Cointelegraph.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
