A turf war between the US Treasury and Commerce departments over legal authority to manage the proposed Strategic Bitcoin Reserve is delaying implementation of the initiative, according to Finnhub and Bloomberg Markets. White House crypto adviser Patrick Witt had previously flagged the need to examine legal implications of the reserve, and the internal competition over administrative control has since intensified. No resolution or timeline has been reported.
Despite the policy uncertainty, Bitcoin rose on Monday, 6 July 2026, even as Michael Saylor's firm executed a sale of 3,588 BTC, according to Finnhub. No specific closing price or percentage change was reported in the cluster.
Bitcoin (BTC/USD) is directly affected as the asset at the centre of the disputed reserve proposal. The US government currently holds over $20 billion in Bitcoin, a figure cited by Finnhub as context for the scale of the initiative under negotiation between agencies.
Bloomberg Markets confirmed that multiple government departments are competing for administrative control, with legal authority over the reserve remaining unresolved. No formal statement from Treasury, Commerce, or the White House has been reported in the cluster as of 7 July 2026.
Sources: investinglive.com, CoinTelegraph, Bloomberg Markets