- Trump initiated a working group to explore potential national digital asset stockpile, primarily from seized cryptocurrencies.
- The investigation does not guarantee a Bitcoin-specific reserve, with experts like Nic Carter warning against premature market optimism.
- Trump’s personal crypto connections include launching a memecoin and ties to World Liberty Financial, which holds various crypto assets beyond Bitcoin.
If you’ve read recent crypto headlines or browsed Crypto Twitter, you might have got the impression that a Strategic Bitcoin Reserve (SBR) is a done deal. Unfortunately, this is far from reality.
Related: SEC Withdraws Controversial SAB 121, Shifts Crypto Accounting Guidance
What Donald Trump did do, in one of his many executive orders, is announce the creation of a working group to explore whether it’s feasible for the US to add digital assets to the national coffers – and sorry maxis, without any mention of Bitcoin.
Prominent figure in the crypto space, Nic Carter, said that “bitcoiners got way over their skis on this one”. Carter expects the lack of news about Bitcoin to have a downward effect on the price; he even told Bloomberg back in December:
I think there is a bit of a risk that these elements are being priced in, and when there’s disillusionment it sells off […] we should be cautious about getting overly bullish about things like the reserve.
Nic CarterTrump Instigates Digital Asset Reserve Investigation
Here’s a quote from the original text from Trump’s order:
The Working Group shall evaluate the potential creation and maintenance of a national digital asset stockpile and propose criteria for establishing such a stockpile, potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.
President Trump Executive Order
So, this means A) that there will be a process to figure out what such a stockpile is and how it could work, B) it’s going to be from seized assets, not purchases (at least for now) and C) it’s not necessarily Bitcoin, although the US has seized a ton of that, so it would likely be part of a reserve, alas not be the reserve.
Sounds a little different than back when Trump promised he’d establish a Strategic Bitcoin Reserve. But this is Donald Trump, so anything could still happen.
Too Many Cooks…
Interestingly though, Trump doesn’t seem to care all that much about the OG crypto, after all he’s been launching his own memecoin, TRUMP, and has also close ties to World Liberty Financial.
The WLF portfolio doesn’t hold any BTC, though it does hold wrapped BTC (wBTC). Other cryptos held are Ethereum (ETH), Chainlink (LINK), Aave (AAVE), Ondo (ONDO) and Ethena (ENA).
Related: Aussie Analyst Miles Deutscher Reveals Top Altcoin Sectors for 2025, Says Market Cycle Likely Broken
Meanwhile, lawyer and popular commentator MetaLawMan said the likelihood of a SBR is pretty low right now, and that he would be surprised “if a fully-baked Bitcoin Strategic Reserve emerged from the kitchen”.
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