President Donald Trump has signed an executive order to establish a Strategic Reserve for storing Bitcoin and other seized cryptocurrencies in the U.S.
Establishing the Digital Reserve
The signed order aims to create a reserve for storing digital assets seized in civil or criminal cases. David Sacks, Trump's crypto czar, noted that this would not cost taxpayers any money as already forfeited assets would be used.
Digital Fort Knox
The U.S. government holds around 200,000 Bitcoin, but a full audit of these assets has never been conducted. The new order calls for a comprehensive accounting of the nation’s digital asset holdings. The goal is to preserve these assets as a long-term store of value. An additional Digital Asset Stockpile will be created, adding only assets seized in forfeiture cases, not through purchases.
Promises Fulfilled
President Trump previously promised the creation of a Strategic Bitcoin Reserve and Digital Asset Stockpile. David Sacks emphasized that this establishes the U.S. as the 'crypto capital of the world,' crucial for the nation's financial future.
The establishment of the digital reserve under Donald Trump's leadership aims to strategically manage seized cryptocurrencies and enhance the country's position in the global digital economy.
