President Trump signs order creating strategic Bitcoin reserve
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President Trump has signed an executive order to create a Strategic Bitcoin Reserve, says White House AI and Crypto Czar David Sacks. According to Sacks’ Mar. 7 announcement on his official X handle, the reserve will be funded with Bitcoin (BTC) seized by the federal government through asset forfeiture, meaning taxpayers will not bear any cost. Sacks estimated that the U.S. government holds around 200,000 BTC, though a full audit has never been conducted. The executive order mandates a complete accounting of federal digital asset holdings and prohibits the sale of Bitcoin in the reserve, likening it to a “digital Fort Knox.” Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve. The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it… — David Sacks (@davidsacks47) March 7, 2025 With Trump reiterating his goal of making the United States the “crypto capital of the world,” the move seeks to improve the nation’s standing in the crypto industry. Additionally, the order establishes a U.S. Digital Asset Stockpile that will contain other non-Bitcoin digital assets that have been seized through forfeiture. However, the government will not acquire additional crypto beyond these means. Trump’s administration is also directing the Treasury and Commerce Departments to explore budget-neutral methods for acquiring more Bitcoin without additional costs to taxpayers. Sacks noted that previous government Bitcoin sales cost taxpayers over $17 billion in lost value. At press time, Bitcoin is down 3% in the past 24 hours at $86,600, and the market has not yet responded to the news. However, the regulation may reduce government sell-offs of Bitcoin, signaling a long-term positive catalyst. This might tighten supply and solidify Bitcoin’s position as a…
Filed under: News - @ March 7, 2025 3:24 am