In March 2025, U.S. President Trump signed Executive Order No. 14233, officially establishing a “Strategic Bitcoin Reserve.” Approximately 200,000 bitcoins obtained by the federal government from criminal and civil asset seizures have been transferred into a permanent reserve asset. The order explicitly prohibits sales and instructs the Treasury Department to explore additional acquisition methods on a “budget-neutral” basis, without increasing the burden on taxpayers. However, at its core, this executive order is a passive accumulation mechanism rather than an active purchasing plan. With no direct procurement involved, the market initially reacted coolly, and Bitcoin fell at one point.

Beyond the federal level, state-level legislative attempts have been more active. SB 2639 proposed by the State of Tennessee would authorize the state’s finance regulator to allocate state funds to Bitcoin, with a maximum of 10% allocated to a single fund and a purchase cap of 5% per fiscal year until the limit is reached. The bill has passed the Senate Committee on Commerce and Labor and will hold a hearing before the Senate Finance Committee on April 20, 2026. However, the accompanying House bill HB 1695 was “softly shelved” due to being pushed back on the legislative calendar. Similar proposals exist in South Dakota, Florida, and other states, but as of now, only a handful of states—such as Texas and New Hampshire—have passed related legislation allowing Bitcoin allocations at the state level. In March 2026, Senators Cassidy and Lummis introduced the “American Manufacturing Act,” which would formally establish a strategic Bitcoin reserve under the Treasury Department and promote domestic mining, integrating Bitcoin into the national financial strategy. The White House Cryptocurrency Committee chairman admitted that progress is constrained by “relatively obscure and complex legal provisions,” and cross-department coordination faces challenges.

At the international level, Brazil’s Congress reintroduced the RESBit bill in February 2026, planning to accumulate up to 1,000,000 bitcoins within five years, accounting for about 5% of the total supply. The Czech National Bank has begun studying the possibility of allocating up to 5% of foreign exchange reserves to Bitcoin. In its 2026 outlook, Fidelity noted that if more countries include Bitcoin in their foreign exchange reserves, other countries may face competitive pressure and follow suit.

Overall, the U.S. is in the early acceleration stage of national-level Bitcoin adoption, characterized by “federally led but limited adoption, state-level follow-through but facing obstacles, and the formation of competitive pressure internationally.” The federal executive order establishes a framework but lacks the impetus for active purchasing; state legislation provides partial breakthroughs but moves slowly; and proactive international moves are effectively pressuring the U.S. to act faster. Although the acceleration trend is clear, legal coordination, budget constraints, and political cycles—among multiple factors—mean that a comprehensive, large-scale national adoption is still some distance away. #创作者冲榜