The post President Trump Signs Executive Order to Establish Bitcoin Reserve, Crypto Stockpile appeared on BitcoinEthereumNews.com.

The Strategic Bitcoin Reserve became reality on Thursday, as President Donald Trump signed an Executive Order authorizing the creation of the digital asset stockpile.  White House AI and Crypto Czar David Sacks announced the news on X, claiming the initiative would not “cost taxpayers a dime.” “The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings,” Sacks wrote. In a bid to curry favor with the Bitcoin faithful, Trump first promised to create a Bitcoin stockpile held by the U.S. Government back in July 2024. The price of the world’s largest crypto has fallen 5.1% in the past hour to $85,868, defying, at least in the short-term, industry expectations that had been building in recent months. The U.S. will not sell the Bitcoin it holds in the reserve, Sacks said, adding the reserve would act like a “digital Fort Knox,” and likening the crypto to “digital gold.” “The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers,” he said. The executive order, as seen by Decrypt, directs federal agencies to provide a full accounting of all government-held digital assets within 30 days, with the Treasury Department tasked with evaluating the legal and investment framework for managing the reserve over the next 60 days. While the order does not outline a specific acquisition strategy beyond forfeitures, it signals a potential shift in U.S. monetary policy toward recognizing Bitcoin as a sovereign reserve asset. The move could put pressure on other nations to formalize their own Bitcoin strategies, as global adoption and competition for scarce BTC intensify. Sacks added that the executive order also establishes a separate Digital Asset Stockpile, consisting…

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Filed under: News - @ March 8, 2025 1:25 am