The U.S. "Strategic Bitcoin Reserve" plan has entered an accelerated phase since its launch in 2025. In March 2025, Trump signed an executive order to incorporate approximately 200k confiscated bitcoins into a permanent reserve, prohibiting sales. A White House advisor recently stated that a "major breakthrough" will be announced within weeks, with BTC prices expected to rise to $125k accordingly.

At the legislative level, Senator Cynthia Lummis's BITCOIN Act is being renamed the "U.S. Reserve Modernization Act." The new bill plans to purchase 1 million bitcoins (about 5% of the total supply) over five years through a budget-neutral "gold certificate revaluation," funded by adjusting the Federal Reserve's gold book value (currently valued at only $42 per ounce) to the market fair value. At that point, the government’s balance sheet could release approximately $1.24 trillion in floating space through book revaluation alone, then exchange newly issued gold certificates for BTC. This plan aims to avoid increasing taxpayers' burden.

On the international front, multiple countries are engaging in competitive deployment: proposing constitutional amendments to include BTC in reserves; the Czech Central Bank researching the allocation of up to 5% of foreign exchange reserves to BTC; Brazil’s Congress reviewing a bill to allocate 5% of foreign reserves to BTC; Russia promoting mining industrialization through a unified tax framework. This "race to deploy" trend is forcing the U.S. to accelerate its federal strategy.

However, progress faces multiple obstacles. Federal Reserve Chair Powell has explicitly stated that, under the Federal Reserve Act, "the Fed has no authority or plan to hold Bitcoin, and has no intention to seek legal changes," placing the responsibility entirely on Congress. Lummis's bill currently lacks bipartisan co-sponsors in the Senate, and Polymarket's current prediction of the probability of the SBR being implemented during Trump’s term is only 31%. Additionally, the plan failed to generate additional buying momentum after market details were disclosed, reflecting low policy efficiency and lack of confidence.

Overall, the Bitcoin strategic reserve plan signifies that digital assets are transitioning from private investment tools to national-level strategic reserve assets. It is currently in a stage of "initial federal framework establishment, international competitive pressure formation, but with significant obstacles to implementation." Its ultimate trajectory remains highly uncertain, especially around the 2026 U.S. midterm elections.