Within months of coming to the White House for the second time, President Donald Trump signed an executive order in May 2025 to establish a Strategic Bitcoin Reserve. The move signaled a radi
Within months of coming to the White House for the second time, President Donald Trump signed an executive order in May 2025 to establish a Strategic Bitcoin Reserve.
The move signaled a radical shift in how the U.S. government maintains its reserves and could accommodate the leading cryptocurrency.
Related: Coinbase CEO has a radical fix for America's $36 trillion debt
The order mandated creating a reserve with Bitcoin forfeited by government agencies as part of asset seizures and asked the Treasury and Commerce Departments to develop budget-neutral strategies to acquire more Bitcoin.
It has been more than a year since the president signed the order, and there is hardly any progress on the Strategic Bitcoin Reserve, with the two departments allegedly involved in a clash over control.
Trending on TheStreet RoundtableBloomberg reported on July 6 that though Trump's plan intended for the Treasury Department to hold Bitcoin, anonymous sources told the publication that there is now a concern regarding the department's legal capacity to manage the crypto holdings.
There is now a possibility that the Commerce Department could also hold the Bitcoin reserve, the sources told Bloomberg.
As per the report, the Justice Department said that its Office of Legal Counsel "is working closely with both the Treasury and Commerce departments to determine legally available options to accomplish the president's policy of establishing a strategic Bitcoin reserve."
Spokespeople for Treasury and Commerce, the two departments tied in internal competition, did not respond to requests for comment.
White House spokesperson Liz Huston said,
"To deliver on the president's vision, the Trump administration continues to evaluate the best structure for a Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile."
Another concern within the Trump administration is whether the government will keep Bitcoin indefinitely as per Trump's order, given the asset's volatile price action.
Bitcoin, which hit the all-time high (ATH) of $126,080 on Oct. 6, 2025, is currently trading around 50% lower at $64,250.26.
TheStreet Roundtable reached out to the Treasury and Commerce Departments for a comment on the report and did not receive any response by the time of publishing this article.
