Trump Will Create A National Bitcoin Stockpile. Here's Why

Ever since President Trump promised to create a “Strategic National Bitcoin Stockpile,” the usual chorus of Bitcoin skeptics have doubted that it will ever happen.

Former President Donald Trump promised to create a “Strategic National Bitcoin Stockpile” during his 2024 campaign. Despite skepticism from some quarters, several factors suggest that the Bitcoin reserve is still on the table.

Trump's close ties to the crypto industry, his party's pro-crypto stance, and his administration's actions all point towards a continued effort to integrate crypto into national policy.

Here are five reasons why Trump's Bitcoin reserve is still a possibility:

1. Trump's Ties to Crypto Lobbyists

In July 2024, Trump appeared at the Bitcoin Conference and promised to establish a “Strategic National Bitcoin Stockpile” that would preserve all bitcoin acquired by the government.

This announcement was followed by Wyoming Senator Cynthia Lummis's introduction of the “Bitcoin Reserve Bill,” which would allocate federal funds to purchase one million BTC over four years.

At the Bitcoin Conference, Trump raised $25 million for his Presidential campaign from crypto owners and leaders. Part of this effort included paid seats for an exclusive roundtable gathering with the President, for which attendees – like Coinbase’s CLO Paul Grewal and Gemini co-founders Cameron and Tyler Winklevoss – paid $844,000 per seat.

Between lobbying efforts and PAC donations, the crypto industry spent $130 million on the 2024 elections. As a matter of self-interest, Trump would do well to fulfill his promises to his wealthy donors, who placed their hopes in him following years of persecution under the previous administration.

2. Trump's Crypto Executive Order

On his third day in office, Trump signed a crypto-focused executive order titled “Strengthening American Leadership in Digital Financial Technologies.”

The order created a new President’s Working Group On Digital Assets tasked, among other things, to “evaluate the potential creation and maintenance of a national digital asset stockpile.”

To be clear, creating a stockpile would not guarantee that the United States buys Bitcoin. It could merely mean that the country chooses to preserve the approximately 200,000 BTC it has seized through law enforcement action, rather than incrementally selling it.

Regardless, this is a clear sign that Trump is wasting no time delivering to Bitcoiners. Furthermore, the Working Group tasked with evaluating this stockpile includes Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and SEC Chairman Mark Uyeda – all known to be Bitcoin supporters or investors.

3. The Republican Party's Pro-Crypto Platform

The Republican Party has embraced crypto from top to bottom, and has shown no signs of slowing its support with respect to buying Bitcoin.

In 024, the Republican Party’s platform promised to champion innovation by embracing new technologies like crypto and AI. That same year, the Republicans voted unanimously to pass multiple pieces of pro-crypto legislation, including the FIT21 bill to provide clear regulations for digital assets.

A cursory look at the Trump’s admin shows that they’re all raging Bitcoin supporters. As of last week, Trump owns several billions of dollars of his digital memecoin “TRUMP”, and tens of millions in BTC and ETH through his family’s project World Liberty Financial.

Vice President JD Vance and Treasury Secretary Scott Bessent have also disclosed hundreds of thousands of dollars in BTC holdings. As previously mentioned, the Commerce Secretary and SEC Chairman are both pro-Bitcoin.

Senate Banking Committee Chairman Tim Scott supports Bitcoin, as does its new Digital Assets Subcommittee Chairwoman Cynthia Lummis – who has previously stated that she owns 5 BTC.

The party is financially invested in Bitcoin. It is only natural that they would support the U.S. government driving demand for it.

4. Republicans' Opposition to Central Banking

Republican support for crypto is not merely selfish, however: it is ideological. Like many Bitcoin holders, a large swath of the Republican Party is broadly opposed to central banking, and promote a return to non-inflationary money.

Last year, Kentucky Congressman Thomas Massie re-tabled an old bill to abolish the Federal Reserve, claiming he had been inspired after reading a popular Bitcoin book titled “The Bitcoin Standard.”

Unlike his attempt in the previous decade, Massie amassed 24 Republican co-sponsors for this bill.

“Retirees see their savings evaporate due to the actions of a central bank pursuing inflationary policies that benefit the wealthy and connected,” the May 2024 bill states.

This sentiment is widely shared among fiscal conservatives, and is largely what’s driven so many to support bitcoin due to its programmatically fixed supply of 21 million coins. For many, bitcoin represents “digital gold” – a return to and improvement upon a prior era of ‘sound money’ that accompanied major prosperity for the United States.

5. The U.S. Debt and Senator Lummis's Bill

In her bill calling to purchase one million bitcoin, Senator Lummis is clear about what the intention of the purchase would be