U.S. President Donald Trump has signed an Executive Order to create a Strategic Bitcoin Reserve, marking an important step towards strengthening the U.S. position in the world of cryptocurrencies.
Signing of the Executive Order
Donald Trump signed a new executive order that establishes the Strategic Bitcoin Reserve. The reserve will use Bitcoin obtained from federal criminal and civil asset forfeitures. This news was first shared by David Sacks on the platform X.
Strategic Bitcoin Reserve
The reserve will hold about 200,000 Bitcoin that the federal government currently owns. There has never been a complete audit of these holdings. The Executive Order requires a full accounting of the government's digital assets. The Secretaries of Treasury and Commerce will explore ways to acquire Bitcoin without additional taxpayer costs.
Goals and Prospects of the Initiative
The stated goal of this initiative is to make the U.S. the 'crypto capital of the world'. The government will not sell any Bitcoin in the reserve, opting to keep it as a store of value. In addition to Bitcoin, a 'U.S. Digital Asset Stockpile' will include other confiscated digital assets. The Treasury Department will manage these assets responsibly without actively acquiring them.
This initiative reflects the Trump administration's commitment to supporting digital asset innovation and providing clear regulations.
