In the US, for several months, members of the crypto community have been waiting for the authorities to decide on forming a national crypto reserve. The situation is as follows: on one hand, the law creating the reserve is signed, but on the other, regulators are in no hurry to implement the initiative.
On September 16, 2025, government officials and members of the crypto community will meet to discuss how to finalize the initiative. Here is what is happening with the US crypto reserve ahead of the event and when regulators might seriously address the initiative.
Follow the reaction of the Bitcoin price to the news about the formation of the US crypto reserve.
What is Known About the Meeting
This meeting is a closed roundtable with US lawmakers and eighteen representatives of the crypto industry. During the discussion, the invitees must jointly propose options for implementing the initiative.
The “invited stars” include:
- Michael Saylor (Strategy)
- Tom Lee (BitMine/Fundstrat)
- Fred Thiel (MARA)
Also invited were executives of mining companies, venture funds, and banks.
The meeting is organized by the lobbying group The Digital Chambers together with the affiliated structure The Digital Power Network.
Why the Meeting Was Needed
The purpose of the meeting is directly related to finding methods for forming the US crypto reserve. Initially, regulators did not disclose ways to implement the initiative. Many in the crypto community assumed that to replenish the crypto fund, the US would buy Bitcoins. Senator Cynthia Lummis hinted at this. Her proposal included the sequential purchase by the US of 1 million Bitcoins over five years. According to Lummis, Trump supported her initiative.
President Donald Trump’s executive order of March 6, 2025, established the strategic Bitcoin reserve, but its filling is limited to “budget-neutral” strategies. For a long time, this wording was interpreted as freeing funds for the US authorities to buy cryptocurrency. The Treasury Secretary clarified the situation. On August 14, 2025, in an interview he stated that the authorities would not buy cryptocurrency. The maximum supporters of the initiative can count on is confiscated coins.
Recall that the US has remained the leader among countries in terms of Bitcoins in reserves for many years. While El Salvador mines and buys cryptocurrency, America replenishes reserves exclusively through seizures.
The US ranks among the countries with the largest Bitcoin reserves. Source: bitbo
For the crypto community, the Treasury Secretary’s statement was a shock, as it meant that the US, contrary to expectations, would not become the largest buyer of BTC. Consequently, the crypto market would not receive the support many investors were counting on.
To decide where and how to get Bitcoins for the crypto reserve, regulators and representatives of the crypto industry organized the meeting.
Where the US Will Get Money to Replenish the Crypto Reserve
The authorities sent a clear signal — initiative supporters should rely exclusively on “budget-neutral” sources. For example, the initiative may be backed by revaluation of gold certificates or revenues from customs tariffs. At the same time, the authorities categorically do not intend to touch citizens’ pockets.
The crypto industry must propose ideas and find allies among lawmakers to turn the executive order into a sustainable legislative program with a concrete plan for accumulating Bitcoin.
Timeline of Events
On July 31, 2024, Senator Cynthia Lummis introduced in the Senate the BITCOIN Act, which provides for the creation of a US strategic reserve of 1 million Bitcoins to be acquired within five years.
In January 2025, the White House issued an order titled “Strengthening America’s Leadership in Digital Financial Technology.” With this document, the President established a working group on digital asset markets and tasked it with considering the idea of a national crypto reserve.
On March 6, 2025, a new executive order was signed, establishing the strategic Bitcoin reserve. Selling Bitcoin from this reserve is prohibited. At the same time, a digital asset stockpile was created for all cryptocurrencies except Bitcoin. The Treasury was instructed to manage it. The same order directed agencies to inventory all their crypto assets.
On March 11, 2025, Congressman Nicholas Begich introduced a bill called the “Bitcoin Act of 2025.” It was sent to the House Financial Services Committee and remained under consideration.
On March 14, 2025, Congressman Byron Donalds introduced another bill aimed at enshrining the provisions of the March executive order on the strategic reserve and the digital asset stockpile in federal law. This bill is under consideration in the Financial Services Committee and has not progressed further.
On July 30, 2025, the White House published a major report on digital assets and a roadmap for their regulation. These documents again mentioned the creation of the crypto reserve but did not provide further details about its structure.
Experts and lawyers emphasized that expanding the reserves would require a direct decision by Congress, since the executive order allows only budget-neutral methods of replenishment.
Summary
The plan to form the Bitcoin reserve in the US turned out to be far from the fairy tale imagined by many in the crypto community. America does not plan to drain its budget on crypto. The maximum that initiative supporters can count on is the search for budget-neutral funds. The treasury will also continue to be replenished through confiscated coins.
Although the initiative is about to turn one-year-old, regulators have not made much progress in implementing it. The next meeting of the authorities with representatives of the crypto industry on September 16 may accelerate the process.
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