The real test for the administration's Bitcoin commitment isn't just signing an executive order—it's the follow-through. Markets are waiting for an official government balance sheet disclosure that explicitly states how much Bitcoin sits in strategic reserves. Here's the catch: there's a meaningful difference between officially held Bitcoin and seized or confiscated holdings. The former signals a genuine long-term reserve strategy, while the latter merely reflects historical enforcement actions. Without transparent disclosure breaking down these figures separately, investors remain in the dark about whether this represents a structural shift in how the government values digital assets or just repositioning existing inventory.