Can Congress Stop the Strategic Bitcoin Reserve?

Donald Trump promised to create a Strategic Bitcoin Reserve if he wins the US elections. The US government currently owns more than 208,000 Bitcoin, but holding onto it could become a lot more complex than expected.

Does Trump have enough power?

There is also still uncertainty about Donald Trump’s exact plan with Bitcoin. Of course, everything depends on the definition of the word “reserve” that he uses.

Would the government simply stop selling its Bitcoin, as Trump promised during his July 2024 speech? Or would America actively buy Bitcoin, like Senator Cynthia Lummis and Robert F. Kennedy Jr. wishes?

It all sounds very simple, not to sell the government’s Bitcoin. But there is currently no existing method to implement such a thing.

This will likely also require the assistance of various government agencies. Consider, for example, the Ministry of Justice and the Ministry of Finance.

Trump needs Congress

Now there are even experts who say that Trump needs Congress’s help to adopt Bitcoin as a reserve asset for the United States.

While others indicate that they are not sure to what extent this could fall within Trump’s power. In other words: it is also quite possible that he could arrange it on his own.

Conclusion? We’ll see in the coming months. In any case, creating a national Bitcoin reserve will not be a priority for Donald Trump.

After all, there are more important matters to be taken care of, so there is a chance that his focus will turn in that direction first. And then we just have to see to what extent he wants to keep his promises.

Of course, it could also have been a trick to win the elections, or at least win some votes in the Bitcoin camp. He certainly succeeded in that with his statements about the Strategic Bitcoin Reserve.

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