Strategic Bitcoin Reserve Could Grow ‘Very Soon,’ Says Sen. Hagerty

Sen. Bill Hagerty says the U.S. Strategic Bitcoin Reserve could grow beyond what he described as its current 200,000 BTC “very soon,” but only after Congress finishes crypto market structure legislation. He laid out that sequence in an in-studio interview Bitcoin Magazine published on October 29, 2026. In the same interview he gave a blunt rejection of a central bank digital currency.

What Hagerty said about the Strategic Bitcoin Reserve

According to Benzinga’s report on Hagerty’s remarks, the senator said on Wednesday, October 28, that reserve legislation could move once lawmakers deal with the CLARITY Act. The CLARITY Act comes first, he said, and the reserve “could come very soon after that.” He didn’t give a firm timeline.

Hagerty also credited Sen. Cynthia Lummis (R-Wyo.) for related legislation that would have the U.S. acquire 1 million BTC over five years. That’s roughly 5% of the 20.1 million bitcoin in circulation, per CoinGecko data. His comments came more than a month after the House Financial Services Committee advanced the Strategic Bitcoin Reserve Bill, the first federal committee approval of such legislation.

CBDCs, Gensler and the January session

In the Bitcoin Magazine interview, Hagerty argued that regulatory uncertainty let former SEC chair Gary Gensler attack the industry. He also said a light government touch helps innovation thrive. On a CBDC, he said it is “absolutely not consistent with freedom and liberty.” The conversation also covered ethics provisions, the stablecoin rewards debate and what Congress can realistically pass before the new session in January.

How the Strategic Bitcoin Reserve was built

President Trump created the reserve by executive order on March 6, 2025. As investingLive explains, it holds bitcoin the government already owned, mostly coins forfeited in criminal and civil cases such as the Silk Road takedown and the Bitfinex hack recovery.

Hagerty’s support for the reserve is not new. In December 2024 he told CNBC he supported a Strategic Bitcoin Reserve and that his view “has evolved” from initial skepticism, Cointelegraph noted. He is also the senator who introduced the GENIUS stablecoin bill on February 4, 2025.

What is still unclear

Quite a lot. bcointalk reported that the executive order bars the Treasury from selling reserve bitcoin and requires any additions to be budget-neutral, so taxpayer money can’t fund open-market purchases. That leaves the method of any expansion undefined.

Even the starting figure is disputed. Hagerty cites 200,000 BTC, while outside estimates of government holdings range from about 198,000 BTC to roughly 328,000 BTC. The White House has struck a more cautious tone. On October 14, 2026, Patrick Witt of the White House digital assets council said the priority is to secure and account for existing coins before exploring additions. He gave no timeline or method.

Then there’s the legislative calendar. The CLARITY Act passed the House in July 2025 and cleared the Senate Banking Committee 15 to 9 in May 2026, but the market rules stalled in the Senate in September 2026. With a new session starting in January, “very soon” could slip.

Where the market stands

Bitcoin traded at $80,094 at 13:25 UTC on October 29, down 0.57% over 24 hours. The Crypto Fear & Greed Index stood at 51 (Neutral) the same day.

The 24-hour low of $79,636 shows bitcoin briefly slipped under $80,000 during the period. Over 30 days it is down 5.19%. The price data gives no clear sign that Hagerty’s remarks have moved the market so far.

Stablecoins and dollar hegemony

Hagerty’s “dollar hegemony” theme echoes recent comments from the Treasury. At Ripple’s Swell conference on October 27, Treasury Secretary Scott Bessent called stablecoins infrastructure for the dollar’s global role, KuCoin News reported. He said issuers are becoming major Treasury buyers because the GENIUS Act requires at least 1:1 reserves. The report cites Standard Chartered’s forecast of a $2 trillion stablecoin market by 2028. That figure is a projection, not a certainty.

What it means for investors

Political statements are not purchase orders. Until Congress grants explicit authority and funding mechanics, an expanded reserve stays a possibility rather than a demand source anyone can measure. Any budget-neutral route would also need to be defined in law or policy.

The risks are concrete:

• Bitcoin is down about 36% from its October 2025 peak.
• Legislation can stall again.
• A change in political control could reverse priorities.

Readers following government bitcoin holdings should treat “very soon” as an aspiration. Check primary documents such as bill texts and Treasury statements, and remember that crypto assets can lose much of their value quickly. This article is not investment advice.

Bottom line

Hagerty has made the order of operations clear: market structure first, then a larger Strategic Bitcoin Reserve. Still missing are a timeline, a funding method and the Senate votes to move the CLARITY Act. Those are the signals worth watching before January.

Sources

• Senator Bill Hagerty: Expanding the U.S. Strategic Bitcoin Reserve, & the Future of Dollar Hegemony (Bitcoin Magazine)
• Bill Hagerty Says Trump's Strategic Bitcoin Reserve Could Expand 'Very Soon' After CLARITY Act Clears Leg – Benzinga (www.benzinga.com)
• Senator Bill Hagerty says the U.S. Strategic Bitcoin Reserve could grow beyond its current 200,000 BTC (www.kucoin.com)
• US bitcoin reserve buying 'very soon'? What has to happen first (investinglive.com)
• Hagerty on the U.S. Strategic Bitcoin Reserve (bcointalk.com)
• U.S. Treasury Secretary Views Stablecoins as a New Tool for Dollar Hegemony and a Buyer of U.S. Treasuries (www.kucoin.com)
• Fed's Waller backs regulated stablecoins to boost US dollar's global dominance (cointelegraph.com)

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.