Overview

• Lawmakers this week introduced a bill directing the Treasury to evaluate the technical and legal feasibility of a Strategic Bitcoin Reserve.
• President Trump’s March executive order created a framework for an SBR and a Digital Asset Stockpile, though no detailed implementation plan has been released.
• Galaxy Digital’s Alex Thorn says markets underprice the odds of a formal SBR announcement by year-end 2025, characterizing a near-term move as plausible rather than certain.
• Dave Weisberger argues a 2026 timeline is more likely and suggests any accumulation would occur privately before public confirmation.
• Overseas activity is building pressure on U.S. timing, with Kyrgyzstan advancing reserve legislation and Indonesian officials engaging with advocates on state-level strategies.