U.S. Treasury Secretary Scott Bessant stated at a Senate Finance Committee hearing on June 3 that the Treasury Department is proceeding with the implementation of a strategic Bitcoin reserve at a “prudent pace.” This arrangement stems from an executive order signed by Trump in March 2025, which requires the Treasury Department to establish a custody and management mechanism for digital assets held by the federal government.

Current monetary holdings of the US government

Currently, the U.S. government holds approximately 328,372 bitcoins, worth about $20.6 billion according to the data in the article. These bitcoins mainly came from criminal and civil seizures. Bessant stated that the relevant processes are quite complex, and the Treasury Department hopes to adopt a long-term sustainable approach because establishing a national-level bitcoin reserve is still a first attempt.

• Holdings: 328,372 BTC
• The estimated value in the article is approximately US$20.6 billion.
• Source: Criminal and Civil Confiscation of Proceeds

The Ministry of Finance is also promoting supporting legislation.

In addition to the reserve arrangements, Bessant also urged Congress to push for the Clarity Act on Digital Asset Markets during the hearing. He stated that this act is "essential" for the United States to maintain its competitiveness in digital assets and will also help keep related businesses and regulatory practices more within the United States.

This bill aims to establish a more comprehensive regulatory framework for digital assets and define under what circumstances tokens should be covered by securities or commodity regulatory systems. Last month, the Senate Banking Committee voted to push the bill to the full Senate for consideration, but further votes still face obstacles.

Reserve legislation at the congressional level is still underway.

Lawmakers who support establishing a national Bitcoin reserve continue to push for legislation. Senator Cynthia Loomis previously introduced the "BITCOIN Act," which would authorize the U.S. government to purchase up to 1 million Bitcoins. After attending a hearing in Bessant, she wrote that this issue has moved from a fringe proposition into mainstream policy discussion.

Meanwhile, Representative Nick Begitch reintroduced the House version of the bill, the "American Reserve Modernization Act," in April. In May, Congress introduced the ARMA Act, aiming to enshrine the relevant reserve program into law, rather than simply leaving it at the level of executive orders.

Additional information:Based on current progress, the US government's actions can be divided into two lines: one is the Treasury Department's efforts to promote the reserve and institutionalized management of existing Bitcoin assets, and the other is Congress's attempt to pass legislation to provide a more stable legal basis for reserve arrangements and digital asset regulation.