Donald Trump promised a Bitcoin Reserve – So why hasn’t the U.S. bought any BTC yet?

Trump’s proposed U.S. Bitcoin reserve has not resulted in publicly confirmed purchases, despite his campaign promise to retain government-held Bitcoin and potentially acquire more. The initiative faces legal, operational, and funding hurdles, with existing federal holdings largely tied to law-enforcement seizures rather than a coordinated buying program. Until Congress or the administration establishes clear authority, funding, and custody rules, the reserve remains a policy proposal rather than a material source of Bitcoin demand.