A new bill introduced on Tuesday would direct the US Treasury to study whether a Strategic Bitcoin Reserve (SBR) is technically and legally feasible, adding fresh momentum to a policy discussion that has gained traction this year. US President Donald Trump signed an executive order in March that set up a framework for a Strategic Bitcoin Reserve and a US Digital Asset Stockpile, but a detailed plan has yet to be released.
Alex Thorn, head of firmwide research at Galaxy Digital, stated there is a high likelihood the US will formally announce an SBR by the end of this year — a view that some market participants consider overly optimistic. Thorn emphasized on X: "I still think there’s a strong chance the U.S. government will announce this year that it has formed the strategic bitcoin reserve (SBR) and is formally holding BTC as a strategic asset. The market seems to be completely underpricing the likelihood of such an announcement."
Reports have disclosed progress on multiple fronts. The administration’s crypto liaison confirmed interest remains in moving forward, even though the topic received only brief mention in Trump's July policy paper. Thorn clarified that he expects a formal government announcement, not just offhand comments from officials.
Global moves are adding pressure on US decision-makers. On August 6, Bitcoin Indonesia met with officials to discuss how a state-level strategy could boost the economy. On Wednesday, Kyrgyzstan advanced a bill aimed at creating a country-level crypto reserve, signaling that other governments are not standing still.
Skeptics like Dave Weisburger, former chairman of CoinRoutes, argue that any formal US holding is more likely to occur in 2026, suggesting the administration would want to discreetly accumulate Bitcoin before public disclosure. Samson Mow, founder of Jan3, has warned that delays risk letting other nations secure large Bitcoin holdings first.
At the time of writing, Bitcoin was trading at $116,058, up 0.9% and 4.8% in the daily and weekly frames. The secrecy around any acquisition plan complicates market reads: if accumulation is underway but hidden, prices could react strongly when the government goes public.
