Last Updated: November 4, 2026
The United States crypto reserve is made up of two government accounts created by President Trump’s executive order of March 6, 2025: a Strategic Bitcoin Reserve, funded with bitcoin the government has seized and forfeited, and a separate US Digital Asset Stockpile for other forfeited crypto. As of November 4, 2026, the reserve exists only under that executive order. No law has created it, the Treasury has not bought any bitcoin for it, and the bill that would write it into law, H.R. 8957, has passed a House committee but has had no floor vote.
Blockchain analytics firm Arkham counts about 328,372 BTC in US government-linked wallets, worth about $25.7 billion at a bitcoin price near $78,400 on November 4, 2026. Not all of those coins are eligible for the reserve yet, because the order only covers bitcoin that a court has finally forfeited. A July 2026 Bloomberg report said a dispute between the Treasury and Commerce Departments over who should run the reserve has slowed it down.
Key Takeaways
- Legal status: The Strategic Bitcoin Reserve rests on Executive Order 14233 of March 6, 2025. Congress has not passed a law creating it.
- Legislation: The House Financial Services Committee voted 28 to 21 on September 16, 2026 to advance H.R. 8957, the American Reserve Modernization Act. As of November 4, 2026, no House report has been filed and no floor vote has been held.
- Holdings: Arkham counted about 328,372 BTC in US government-linked wallets in February 2026, a figure still cited in June 2026. All of it came from criminal and civil cases, not market purchases, and about 127,271 BTC of it is still in forfeiture litigation.
- Purchases: Treasury Secretary Scott Bessent said in August 2025 that the government would not buy bitcoin, then said Treasury would explore “budget-neutral pathways” to acquire more. No federal purchase has been reported.
- Senate bill: The BITCOIN Act (S. 954) from Senator Cynthia Lummis would have the Treasury buy one million BTC over five years. It has had no action since it was referred to committee in March 2025.
- What changed since 2025: 2025 brought the executive order, the BITCOIN Act and Bessent’s no-purchase comments. 2026 brought a promised “big announcement” in April, the Treasury and Commerce dispute in July and the September committee vote, but no purchases and no law.
What the September 16 Committee Vote Actually Changes
The September 16, 2026 vote was the first time a Strategic Bitcoin Reserve bill cleared a congressional committee. The House Financial Services Committee held a markup and ordered H.R. 8957 “to be reported (amended)” by a recorded vote of 28 to 21, according to the bill’s official record on govinfo. The bill was introduced on May 21, 2026 by Rep. Nick Begich (R-Alaska) with 21 original cosponsors and has 23 in total. Begich said in April 2026 that the House version of the BITCOIN Act was being renamed the American Reserve Modernization Act.
The committee vote does not make the reserve law. The bill still needs a House floor vote, passage in the Senate and the President’s signature. The official record shows no House report number and no action after September 16. The 119th Congress ends on January 3, 2027, so a bill that has not passed both chambers by then must be reintroduced in the next Congress. Congress returns after the November 3, 2026 midterm elections, and crypto bills have struggled in the Senate this year: the CLARITY Act market structure bill failed a 49 to 50 cloture vote on September 15, 2026.
Before that vote, Senate insiders had floated tougher ethics language for the bill.
As introduced, H.R. 8957 would:
- Require the Treasury to set up a secure storage facility called the Strategic Bitcoin Reserve, plus a separate Digital Asset Stockpile, within 180 days.
- Require bitcoin deposited in the reserve to be held for at least 20 years, with no sales, swaps or pledges during that time.
- Order a joint Treasury and Commerce study, due within 180 days, of the costs and benefits of acquiring more bitcoin over five years, without setting a quantity. The bill says it does not authorize borrowing, new taxes or deficit spending to buy bitcoin.
- Require quarterly public reports on holdings, including a cryptographic proof of control of the keys, an independent auditor and oversight by the Government Accountability Office.
- Create a voluntary program for states to store bitcoin in segregated accounts, and affirm the right to self-custody.
The committee approved an amended version, and the amended text was not published in the record checked on November 4, 2026, so details may differ from the introduced bill.
Blockchainreporter’s comparison of the two main federal bills:
| H.R. 8957, American Reserve Modernization Act (House) | S. 954, BITCOIN Act of 2025 (Senate) | |
|---|---|---|
| Sponsor | Rep. Nick Begich (R-AK) | Sen. Cynthia Lummis (R-WY) |
| Introduced | May 21, 2026 | March 11, 2025 |
| Bitcoin purchases | None required; study of buying more over five years | One million BTC over five years |
| Holding period | At least 20 years | At least 20 years |
| Funding ideas | Study only; no borrowing, new taxes or deficit spending | Federal Reserve remittances and surplus, Exchange Stabilization Fund |
| Latest action | Ordered reported 28 to 21 by House Financial Services, September 16, 2026 | Referred to Senate Banking, March 11, 2025 |
The Reserve’s Current Legal Status
Executive Order 14233, “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile,” signed on March 6, 2025, sets the rules that apply today:
- Strategic Bitcoin Reserve: funded with bitcoin the Treasury holds from finalized criminal or civil forfeitures or from civil money penalties. Bitcoin deposited in it “shall not be sold.”
- US Digital Asset Stockpile: funded with non-bitcoin crypto from the same kinds of cases. The Treasury Secretary decides how to manage it “in accordance with applicable law,” which can include sales.
- No new spending: the Treasury and Commerce Secretaries may develop strategies to acquire more bitcoin only if they are “budget neutral and do not impose incremental costs on United States taxpayers.” Any other new assets need further executive or legislative action.
- Exceptions: agencies may still return assets to identifiable crime victims, follow court orders and use assets for law enforcement.
- Deadlines: agencies had 30 days to give the Treasury a full accounting of their digital assets, and the Treasury had 60 days to deliver an evaluation of the legal and investment issues, including whether new legislation is needed.
The order did not commit any taxpayer money to buying bitcoin. One budget-neutral idea raised by reserve supporters is the Treasury’s gold. The Treasury owns about 261.4 million fine troy ounces of gold (about 8,130 tonnes), carried on its books at the statutory price of $42.2222 per ounce, a book value of about $11 billion, according to Treasury data for September 30, 2026. Revaluing that gold closer to market prices would create an accounting gain on paper. H.R. 8957 as introduced mentions Federal Reserve resources and similar options only as items for its study, not as a funding source.
The United States is not the only state with a large stash. China is also one of the largest crypto whales, according to a 2022 Blockchainreporter analysis.
How Much Bitcoin Does the US Government Hold?
No official audited figure has been published. The most cited estimate comes from Arkham, which on February 16, 2026 counted about 328,372 BTC in US government-linked wallets, as reported by Bitcoin.com News. Cointelegraph cited the same total in June 2026.
| Source of the bitcoin (Arkham attribution) | About | Status |
|---|---|---|
| Prince Group case (Chen Zhi), seized in 2025 | 127,271 BTC | Still in forfeiture litigation |
| Silk Road cases | 94,679 BTC | Forfeited |
| Bitfinex hack case | 94,643 BTC | Forfeited |
| Other Justice Department and IRS cases | 11,779 BTC | Various |
| Total | 328,372 BTC | About $25.7 billion at $78,400 per BTC |
Bitcoin that is seized but not yet finally forfeited, like the Prince Group coins, is not eligible for the reserve under the executive order, and some forfeited coins can still go back to victims. That is why official comments have given lower numbers: in August 2025 Treasury Secretary Bessent put the reserve at “somewhere between $15 billion and $20 billion” in a Fox Business interview. Track the current bitcoin price to value the holdings yourself.
Why the Reserve Has Moved So Slowly
The executive order set short deadlines, but the reserve has moved slowly for more than 18 months. The public record shows four main reasons:
- No purchases: On August 14, 2025, Bessent told Fox Business, “We’re not going to be buying that, but we are going to use confiscated assets.” Hours later he wrote on X that “Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve.” At a Senate Finance Committee hearing reported on June 3, 2026, he said Treasury was “proceeding with all deliberate speed.”
- Legal questions: On April 27, 2026, Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, said at the Bitcoin 2026 conference that the administration was working through the legal interpretations needed and that “in the next few weeks, we’ll be making a big announcement.” No such announcement had been made by July 6, 2026, according to The Block.
- Who runs it: Bloomberg reported in July 2026 that the Treasury and Commerce Departments both sought control of the reserve and that discussions had shifted toward placing it at Commerce. White House spokesperson Liz Huston said the administration “continues to evaluate the best structure for a Strategic Bitcoin Reserve,” as cited by The Block on July 6, 2026.
- Custody risks: In January 2026, the US Marshals Service said “the matter is under investigation” after crypto investigator ZachXBT alleged that more than $40 million had been taken from government-linked wallets connected to its crypto custody contractor, Command Services & Support (CMDSS), according to Cointelegraph on January 27, 2026. The case added pressure to consolidate custody.
What Happens Next
The next steps to watch are a House floor vote on H.R. 8957, any Senate action on the BITCOIN Act, a decision on whether the Treasury or Commerce Department runs the reserve, and the final forfeiture of the Prince Group bitcoin. Any purchase would have to be budget neutral under the executive order. For background on how national bitcoin reserves work, see what a strategic bitcoin reserve is.
Which US States Have Bitcoin Reserve Laws?
States have moved faster than Washington. By July 2025, three states had enacted reserve laws, according to Decrypt:
| State | Law | What it allows |
|---|---|---|
| New Hampshire | HB 302, signed by Gov. Kelly Ayotte in May 2025 | Up to 5% of certain public funds in precious metals and digital assets with an average market cap of at least $500 billion, which in practice means bitcoin |
| Arizona | HB 2749 (2025) | Unclaimed crypto can be held in its original form instead of being sold; Gov. Katie Hobbs vetoed two broader reserve bills |
| Texas | SB 21 and HB 4488, signed by Gov. Greg Abbott in June 2025 | A Texas Strategic Bitcoin Reserve; eligible assets need a market cap of at least $500 billion over 24 months |
H.R. 8957 as introduced would also let states store their bitcoin in segregated accounts under a voluntary Treasury program, while keeping title to it.
Frequently Asked Questions
What is the United States crypto reserve?
The United States crypto reserve is the Strategic Bitcoin Reserve and the US Digital Asset Stockpile created by President Trump’s executive order of March 6, 2025. The reserve holds bitcoin the government has forfeited in criminal and civil cases and may not sell it. The stockpile holds other forfeited crypto. Neither account was funded with market purchases as of November 2026.
Has the US Strategic Bitcoin Reserve actually become law?
No. The reserve still rests on the March 2025 executive order. The House Financial Services Committee voted 28 to 21 on September 16, 2026 to advance H.R. 8957, the American Reserve Modernization Act, but as of November 4, 2026 there has been no House floor vote, no Senate vote and no presidential signature, so the bill is not law.
How much bitcoin does the US government currently hold?
Arkham counted about 328,372 BTC in US government-linked wallets in February 2026, worth about $25.7 billion at a price near $78,400 on November 4, 2026. About 127,271 BTC of that is still in forfeiture litigation, and some coins may be returned to victims. No official audited total has been published, and Bessent put the reserve at $15 billion to $20 billion in 2025.
Is the Treasury buying more bitcoin?
No federal bitcoin purchase has been reported. Treasury Secretary Scott Bessent said in August 2025 that the government would not buy bitcoin, then said Treasury would explore budget-neutral ways to acquire more. The executive order allows only budget-neutral acquisitions that cost taxpayers nothing, and the House bill as introduced orders a study of purchases, not purchases.
What is the difference between the House and Senate bitcoin reserve bills?
The House bill, H.R. 8957, would write the reserve into law, require secure storage, a 20-year holding period and quarterly proof-of-reserve reports, and order a study of buying more bitcoin. The Senate’s BITCOIN Act, from Senator Cynthia Lummis, would require the Treasury to buy one million BTC over five years. Only the House bill has had a committee vote.
How might the government fund more bitcoin purchases without new spending?
The executive order requires any purchase to be budget neutral. Ideas discussed include revaluing Treasury gold, carried at a statutory $42.2222 per ounce, using Federal Reserve remittances or the Exchange Stabilization Fund, as the BITCOIN Act proposes. The House bill as introduced only studies such options and rules out borrowing, new taxes and deficit spending.
Why did a US Marshals Service investigation matter for the reserve?
In January 2026 the US Marshals Service confirmed an investigation after crypto investigator ZachXBT alleged that more than $40 million had been taken from government-linked wallets tied to its custody contractor. The case showed the risks of holding seized crypto across several agencies and contractors, and it added pressure to move the bitcoin into one secure, Treasury-run account.
What is the US Digital Asset Stockpile?
The US Digital Asset Stockpile is the second account created by the March 2025 executive order. It holds non-bitcoin crypto, such as ether and stablecoins, that the government has forfeited in criminal or civil cases. Unlike the bitcoin reserve, the stockpile has no ban on sales: the Treasury Secretary decides how to manage it under applicable law. No assets have been bought for it.
Does the US crypto reserve include XRP, Solana or other altcoins?
Not as a purchase program. In early March 2025 President Trump said in social media posts that a reserve would include XRP, Solana and Cardano, but the executive order signed on March 6, 2025 only collects forfeited assets. Any altcoins the government has forfeited go to the Digital Asset Stockpile, and new purchases would need further executive or legislative action.
Which US states have a bitcoin reserve?
By July 2025, New Hampshire, Arizona and Texas had enacted bitcoin reserve laws. New Hampshire lets the state invest up to 5% of certain funds, Texas created a Texas Strategic Bitcoin Reserve, and Arizona lets unclaimed crypto be held instead of sold. Other states have debated similar bills, and the House bill would offer states federal storage.
For the fuller picture of how this fits into the broader regulatory landscape, see the CLARITY Act explainer, crypto news today and crypto market today.
Data sources: Executive Order 14233 (whitehouse.gov), H.R. 8957 bill text and status record (govinfo), S. 954 status record (govinfo), Treasury FiscalData gold reserve data (September 30, 2026), Arkham via Bitcoin.com News, The Block, Bloomberg, Cointelegraph, Decrypt and Fox Business, checked November 4, 2026.
This article is for informational purposes only and does not constitute financial advice.
