The post Trump Signs Executive Order to Create US Bitcoin Reserve appeared on BitcoinEthereumNews.com.

The reserve will act as a long-term store of value for Bitcoin, funded by government-seized digital assets. Texas has also advanced its own Bitcoin reserve bill (SB-21), which, if signed into law, will make it the first US state to hold Bitcoin as a reserve asset. White House crypto czar David Sacks criticized past government Bitcoin sales, and argued that they cost taxpayers billions by failing to recognize Bitcoin’s long-term value. White House Establishes Strategic Bitcoin Reserve President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve and a US Digital Asset Stockpile, according to White House AI and crypto czar David Sacks. The reserve is designed to serve as a long-term store of value for Bitcoin, with initial funding coming from digital assets that were seized through criminal and civil asset forfeiture proceedings. Sacks described the initiative as a “digital Fort Knox” for cryptocurrency, and said that the government will not sell any Bitcoin placed in the reserve. The executive order also created a separate digital asset stockpile, which will include non-Bitcoin digital assets held by the government. This initiative will ensure responsible stewardship of the government’s digital assets under the Treasury Department. However, Sacks clarified that the government will not actively acquire additional digital assets beyond those that were obtained through forfeiture proceedings. Before the signing of the order, Bloomberg reported that the White House was expected to announce a Bitcoin reserve at the March 7 White House Crypto Summit. One of the proposed plans included using government-seized crypto as the initial seed for the reserve. Trump later confirmed on his Truth Social platform that the digital asset reserve will include major cryptocurrencies like XRP, Solana (SOL), Cardano (ADA), Ethereum (ETH), and Bitcoin (BTC), with ETH and BTC serving as its core assets. US Government…

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Filed under: News - @ March 7, 2025 5:27 am