The new bill, introduced Tuesday, directs the U.S. Treasury to study whether the Strategic Bitcoin Reserve (SBR) is technically and legally feasible, adding new momentum to the policy debate that won Steam this year.
US President Donald Trump has signed an executive order that sets up a framework for strategic Bitcoin reserves and US digital asset stockpiling, but detailed plans have not yet been announced.
According to Alex Thorn, head of corporate research at Galaxy Digital, it is likely that the US will officially announce the SBR by the end of this year. The view is that some market participants are too optimistic.
I think it is likely that the US government will form a Strategic Bitcoin Reserve (SBR) this year and officially announce that it holds BTC as a strategic asset.
The market appears to be completely decreasing the likelihood of such an announcement.
– Alex Thorne (@intangiblecoins) September 11, 2025
The report discloses progress in multiple ways
Based on the report, the administration’s cryptographic communications confirmed that even if the topic only received a brief mention in a recent policy paper, there remains interest in moving forward.
Yes, I mean the US government is making an announcement rather than Bescent’s unfortunate comment on television.
That comment gave us a hint as to where they think the spare sizes are standing, but it is not an official announcement of SBR https://t.co/adxgulj8vh
– Alex Thorne (@intangiblecoins) September 11, 2025
On August 6, Bitcoin Indonesia said it had met with officials to talk about how state-level strategies can boost the economy. And on Wednesday, Kyrgyzstan advanced a bill aimed at creating a national-level cryptocurrency reserve.
Skeptics say the timeline could slip in 2026
Jan3 founder Samson Mow called for a faster action and called for warnings in June that other countries would slow the risk of securing large-scale Bitcoin holdings first.
Dave Weisburger, former chairman of Coinroutes, said it is likely that the US will be held in 2026.
BTCUSD trading at $116,058 on the 24-hour chart: TradingView
He argued that administrations that want to build positions will likely avoid public disclosures until they reach their initial accumulation targets.
The market may be below odds
Thorne writes to X that the market appears to be putting the likelihood of a US announcement low. This is important because a clear signal from the government that it holds Bitcoin as a strategic asset could rapidly change demand dynamics.
Some traders will view such a move as a bullish shock. Others will be concerned about new rules, taxes, or custody frameworks that may follow.
The secrets about acquisition plans also complicate market readings. If accumulation is ongoing but hidden, prices can be strongly responsive when the government is made public.
Global moves put pressure on US decision makers
Beyond timing and market impact, there is a geopolitical edge to the story. Central and Southeast Asian countries are actively discussing national crypto preparations, with Jakarta officials showing interest in using Bitcoin-related strategies as an economic tool.
Its international activities raise political interests in Washington. For now, the photos are mixed together. While the executive order and bill show progress, public comments from officials and analysts indicate a true discrepancy when or if the US formalizes its formal holdings.
At the time of writing, Bitcoin was trading at $116,058, up 0.9% and 4.8% on daily and weekly frames.
Meta featured images, TradingView chart
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