US government unlikely to buy Bitcoin for strategic reserve, Bitget CEO says

The US government’s Strategic Bitcoin Reserve is looking more like a trophy case than a war chest. Bitget CEO Gracy Chen has said she does not expect Washington to make any open-market Bitcoin purchases before the end of President Donald Trump’s current term. That view is grounded in how the reserve was actually built. The executive order establishing it, signed on March 6, 2025, explicitly limits the reserve to Bitcoin seized or forfeited through criminal and civil asset proceedings. No taxpayer money goes in. No market orders get placed. What the reserve actually is The US holds a substantial amount of Bitcoin accumulated through law enforcement actions, and the executive order simply formalizes the decision to keep it rather than sell it. The order also prohibits the government from selling its holdings, which creates an interesting one-way door. Bitcoin goes in when courts rule against defendants. It does not come back out. As of mid-2026, no additional Bitcoin has been acquired through any purchase mechanism, and the administrative focus has stayed on building the legal and custodial infrastructure needed to manage existing holdings. Treasury Secretary Scott Bessent has voiced...