During the 2024 Bitcoin Conference in Nashville, Donald Trump, then-Republican presidential candidate, electrified the crypto crowd with a bold vision:
“If crypto is going to define the future, I want it to be mined, minted, and made in the USA. If Bitcoin is going to the moon, I want America to be the nation that leads the way. It will be the policy of my administration to keep 100% of all the Bitcoin the U.S. government currently holds or acquires.”
Fast forward a few months—Trump defeats Kamala Harris and steps into the White House. The Bitcoin community awaits what was touted as a game-changing policy: the launch of a U.S. Strategic Bitcoin Reserve.
But has that promise vanished into thin air?
Strategic Bitcoin Reserve Is “No More,” Says Prominent Bitcoiner
Well-known Bitcoin advocate Justin Bechler declared that the idea of a Strategic Bitcoin Reserve is nothing more than a “fantasy.”
Bechler criticized the Trump administration for repeatedly failing to follow through on promises, pointing to:
- No release of the Epstein list
- No Fort Knox gold audit
- No major change in Ukraine policy
- No mass deportations
- No accountability for intelligence agencies
- No reversal of key COVID-era policies
According to him, expecting the government to suddenly embrace Bitcoin wholeheartedly is unrealistic.
Will the U.S. Abandon the Dollar for Bitcoin?
Bechler argues that Bitcoin threatens the very core of government control. The U.S. dollar isn’t just currency—it’s a tool of influence:
- It funds operations
- Manages debt
- Keeps allies financially dependent
- Controls internal stability
Bitcoin, on the other hand, is decentralized, transparent, uncensorable, and cannot be printed or frozen, making it the opposite of what centralized governments want.
“To replace the dollar with Bitcoin is to dismantle the U.S. government’s engine of control,” Bechler claims.
Can the U.S. Even Manage a Bitcoin Reserve?
Referencing a Treasury Department report, Bechler points out that the IRS has already mishandled seized Bitcoin in previous years. He questions whether the federal government is even competent enough to manage a trillion-dollar digital reserve.
Strategic Bitcoin Reserve: Political Theater or Real Plan?
In Bechler’s eyes, those who still push for a U.S. Strategic Bitcoin Reserve are either politicians chasing headlines or, worse, “bad actors” misleading the public.
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FAQs
The U.S. Strategic Bitcoin Reserve’s policy is to keep 100% of all Bitcoin the U.S. government holds or acquires. It aims to maximize Bitcoin’s strategic position as a unique store of value, enhancing financial resilience and positioning the U.S. as a leader in digital asset adoption.
Some argue that Bitcoin’s uncensorable, transparent, and unprintable nature directly opposes government control mechanisms that the U.S. dollar provides (funding operations, managing debt). Justin Bechler claims replacing the dollar with Bitcoin would “dismantle the U.S. government’s engine of control,” making it highly unlikely for the dollar to be fully replaced.
The Trump administration, since January 2025, has issued executive orders supporting the responsible growth of digital assets and blockchain technology, positioning the U.S. as a crypto leader. Policies aim to provide regulatory clarity and have seen reduced SEC enforcement actions in some areas, with further policy papers expected by July 22, 2025.
