In early March, the U.S. government established a strategic Bitcoin reserve, primarily focusing on holding forfeited coins rather than purchasing new ones.

Treasury Secretary Scott Bessent emphasized that the government's immediate priority is to halt the sale of Bitcoin already in its possession.

The chances of the U.S. creating a national Bitcoin reserve in 2025 have dropped to 51%, contingent upon acquiring additional coins beyond those that have been confiscated.

Bloomberg had previously estimated a 30% likelihood that the U.S. government would buy Bitcoin this year, potentially using funds from the Exchange Stabilization Fund.

Financial commentator Peter Schiff argues that the U.S. is unlikely to purchase any Bitcoin, suggesting that national leaders are not naive about the cryptocurrency market.

Despite his critical stance, Schiff maintains a small Bitcoin reserve, which he plans to keep as a cautionary example for others.

Schiff also critiques the Bitcoin reserve initiative, arguing that it is unlikely to spark a new arms race with China.

Meanwhile, competition among U.S. states to establish their own Bitcoin reserves is heating up, with Arizona currently in the lead.