Trump signs executive order to create strategic bitcoin reserve

President Donald Trump has signed an executive order to create a Strategic Bitcoin Reserve, according to David Sacks, the White House czar for AI and had previously announced on social media that he would direct the government to stockpile Bitcoin, Ethereum, and three other tokens, a decision that drew criticism from the crypto industry. Sacks clarified that the reserve would be “capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. He emphasised that this approach ensures the reserve “could not carry a cost for taxpayers.”The executive order also mandates a comprehensive review of the government’s digital asset holdings, which Sacks estimates to include around 200,000 Bitcoin.
He further stated that none of the Bitcoin in the reserve would be sold, likening it to “a digital Fort Knox.”In addition, the order establishes a US Digital Asset Stockpile. “The purpose of the Stockpile is responsible stewardship of the government’s digital assets under the Treasury Department,” Sacks wrote.