The US Treasury and Commerce Department disagree over the management of the 328,372 BTC held by the federal government
The United States strategic Bitcoin reserve remains at a standstill. According to a report published by Bloomberg on 7 July 2026, the Department of the Treasury and the Department of Commerce are at odds over which agency should hold primary oversight of the bitcoin held by the federal government and how custody should be structured.
The executive order signed by President Donald Trump in March 2025 assigned the reserve to the Treasury, with other agencies in a supporting role for seizures. Since then, questions have emerged about the Treasury’s legal capacity to manage the reserve: according to Bloomberg, the dispute concerns in part the asset’s volatility. The Department of Commerce has put itself forward as an alternative for oversight, while the Department of Justice is working with both agencies to identify legally viable options.
The United States currently holds 328,372 Bitcoin, accumulated primarily through judicial seizures over the years – the largest holding among all sovereign states. A portion of the BTC has been transferred over time following court orders, and one of the reserve’s stated objectives is to end that practice, retaining bitcoin as a long-term strategic asset rather than confiscated property to be liquidated.
