Two months after President Donald J. Trump issued an executive order to create a Strategic Bitcoin Reserve (SBR), the US Treasury Department has failed to meet a crucial deadline by not releasing or even acknowledging the required evaluation due yesterday.
The executive order, signed on March 6, instructed Treasury Secretary David Bessent to provide, “within 60 days of the date of this order, … an evaluation of the legal and investment considerations for establishing and managing the Strategic Bitcoin Reserve and United States Digital Asset Stockpile going forward, including the accounts in which the Strategic Bitcoin Reserve and United States Digital Asset Stockpile should be located and the need for any legislation to operationalize any aspect of this order or the proper management and administration of such accounts.”
As of this morning, the Treasury’s website contains no such document, no announcements have been made to the media, and staff from the Senate Banking and House Financial Services Committees indicate they have not received any communication regarding the matter.
Silence from the Trump Administration on Bitcoin Reserve
The lack of response echoes an earlier lapse: the order also mandated that “within 30 days of the date of this order, each agency shall review its authorities to transfer any Government BTC held by it to the Strategic Bitcoin Reserve and shall submit a report reflecting the result of that review to the Secretary of the Treasury.” The deadline passed on April 5 without any public updates. It is unclear whether these agency reviews were completed or even started, as the order does not require such information to be made public.
With no official updates available, insights have come from David Bailey, CEO of BTC Inc. and a longtime advisor to Trump on digital-asset issues. In a post from April 16, Bailey noted that the Bitcoin audit was still in progress and some agencies needed more time, expecting completion in about a week.
However, Bailey has since adjusted expectations regarding the public release of audit results. “I’ve never said it’ll be publicly released, I expect it to be commented on,” he stated in an April 16 discussion on X. His comments resonated with earlier statements likening the reserve to a “digital Fort Knox,” a term also utilized by White House crypto advisor David Sacks in initial communications from the administration.
The pressing question now is whether the 60-day evaluation will also fade into administrative obscurity. The executive order does not specifically require this evaluation—or any following recommendations by the Treasury—to be released publicly.
At the time of reporting, Bitcoin was trading at $94,418.
