As of early February 2025, the Trump administration continues to deliberate on the establishment of a national Bitcoin reserve. David Sacks, appointed as the administration’s “Crypto Czar,” has acknowledged that the concept is under active evaluation. In a recent interview, Sacks stated, “President Trump has asked us to study that issue, so we are not ready to comment on it yet. But it’s one of the things our working groups are going to look at.”
Despite the administration’s pro-crypto stance, no definitive plans or timelines have been announced regarding the Bitcoin reserve. This ongoing uncertainty has influenced market sentiment. Prediction markets, such as Polymarket, have shown a decline in confidence regarding the reserve’s establishment within Trump’s first 100 days in office, with probabilities decreasing from over 40% in mid-January to 16% by late January.
While federal discussions continue, some U.S. states are proactively exploring their own Bitcoin reserve initiatives. For instance, Arizona’s Senate Financial Committee recently approved a bill allowing up to 10% of public funds to be invested in cryptocurrencies. Similarly, Oklahoma is considering legislation to designate Bitcoin as a strategic reserve asset.
The administration’s broader crypto-related actions include an executive order establishing a working group to review digital asset regulations and consider creating a national Bitcoin reserve. However, this order did not provide specific directives or timelines, leading to some market uncertainty.
In summary, while the Trump administration has signaled support for integrating Bitcoin into the national financial strategy, concrete details regarding the establishment of a Bitcoin reserve remain under consideration, with no official announcements to date.