Trump Creates US Bitcoin Reserve
Trump Establishes US Strategic Bitcoin Reserve
President Donald Trump has signed an executive order establishing a Strategic Bitcoin Reserve, according to a Thursday announcement by David Sacks, the White House AI and crypto czar. The reserve will utilize Bitcoin seized through federal asset forfeiture.
Key Details of the Executive Order
- The reserve will hold approximately 200,000 Bitcoin, currently held by the federal government. A complete audit of government-held digital assets is mandated by the order.
- The government will not sell any Bitcoin held in the reserve. It will be treated as a store of value to protect taxpayer funds, avoiding losses from premature sales. Sacks noted that prior premature sales cost taxpayers over $17 billion in lost value.
- The Treasury and Commerce Secretaries are tasked with developing budget-neutral strategies for acquiring additional Bitcoin through forfeiture proceedings only; no additional taxpayer funds will be used.
- A 'Digital Asset Stockpile' will manage other seized digital assets under Treasury Department supervision. No further acquisitions beyond forfeitures are planned.
Sacks stated that this executive order reinforces President Trump’s commitment to positioning the US as the "crypto capital of the world." He acknowledged the support of Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, working through the President’s Working Group on Digital Asset Markets.
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This is a developing story.