President-elect Donald Trump’s transition team is reportedly set to implement the establishment of a national Strategic Bitcoin Reserve (SBR). At the center of this development is the formation of a crypto advisory council to revise US policy on digital assets, as Reuters reports.

Major crypto companies are vying for seats on the council, including Ripple, Kraken, Circle, and venture capital firms like Paradigm and Andreessen Horowitz’s crypto arm a16z. The council is expected to be housed within the White House’s National Economic Council or a separate executive apparatus.

Strategic Bitcoin Reserve Could Become Real

“It’s being fleshed out, but I anticipate the leading executives from America’s Bitcoin and crypto firms to be represented,” said David Bailey, CEO of Bitcoin Magazine and a key advisor who arranged for Trump to speak at a July Bitcoin conference in Nashville. “People are eager to advise and give input.”

The concept of a Strategic Bitcoin Reserve has been gaining momentum among Trump’s advisors and industry leaders. Dennis Porter, CEO and founder of the Satoshi Act Fund—a US nonprofit advocating for Bitcoin adoption—revealed that the team is considering an executive order to establish the SBR.

David Bailey also signaled positive momentum, declaring on November 15 via X, “SBR is happening.” He emphasized the administration’s capacity to initiate the reserve promptly: “The verdict from the experts is the President has the authority to establish the SBR without Congress and implement a fairly large acquisition program (tens of billions of $). To go bigger we’ll need Congress, but we can start right away at a MicroStrategy-esque scale.”

Despite the enthusiastic support from industry insiders, market skepticism persists. According to Polymarket, a decentralized prediction market platform, the probability of Trump establishing a Strategic Bitcoin Reserve stands at 42%, up from a low of 24% five days earlier. T

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Author: Jake Simmons