The post First Draft to Create a Strategic Bitcoin Reserve in the US Sent to President Donald Trump appeared on BitcoinEthereumNews.com.

The Bitcoin Policy Institute, a private organization, has drafted a proposed Executive Order for President Donald Trump with the aim of integrating Bitcoin into the financial strategy of the United States. Citing Bitcoin’s potential to strengthen the US dollar and enhance national economic security, the document outlines a framework for establishing it as a strategic reserve asset within the US Treasury’s Exchange Stabilization Fund (ESF). The draft, titled “Executive Order Designating Bitcoin as a Strategic Reserve Asset within the Exchange Stabilization Fund,” states that it is important for the United States to adapt to global financial innovations in order to maintain its economic leadership. It describes Bitcoin as a “decentralized and limited store of value asset” comparable to digital gold. The proposal addresses three key objectives: Establishment of the Strategic Bitcoin Reserve (SBR): The SBR will promote economic flexibility by increasing the diversity of U.S. reserve assets. Bitcoin Designation as a Strategic Asset: The bill positions Bitcoin as a key component of U.S. financial dominance, allowing for its inclusion in the ESF. Leadership in the Digital Assets Industry: The plan aims to attract capital, talent, and businesses in the digital assets industry to the United States. The draft outlines specific actions to achieve these goals: Creation of the Strategic Bitcoin Reserve: Led by the Secretary of the Treasury, the SBR will operate under strict security, regular audits, and comprehensive reporting to ensure transparency and long-term accountability. Consolidation of Government Bitcoin Assets: Within seven days of the Executive Order going into effect, all Bitcoin held by federal agencies, including those seized in legal proceedings, will be transferred to the SBR. Purchase Program for Bitcoin: The Treasury will implement a Bitcoin purchase program within 60 days that aims to position the U.S. as a global leader in digital assets. *This is not…

---

Filed under: News - @ December 18, 2024 6:10 am