President Donald Trump has signed an Executive Order to establish a Strategic Bitcoin Reserve. The initiative will consolidate Bitcoin obtained by the federal government through criminal and civil asset forfeiture proceedings. This reserve is intended to serve as a store of value, with the government opting to hold the digital asset rather than selling it off.
Donald Trump Signs Order to Create U.S. Strategic Bitcoin Reserve
In a lengthy post on X, Crypto Czar David Sacks revealed that President Donald Trump has officially signed an Executive Order to establish the Strategic Bitcoin Reserve. This initiative is designed to safeguard Bitcoin confiscated through legal forfeiture proceedings and store it as a national asset.
The federal government currently possesses an estimated 200,000 Bitcoin, though a comprehensive audit has never been conducted. The Executive Order mandates a full accounting of all federal digital asset holdings to provide transparency regarding the government’s cryptocurrency assets.
A recent report highlighted that it would be impossible for taxpayer money to be used for the Strategic Crypto Reserve without congressional approval. To work around this, officials are considering alternatives such as repurposing seized Bitcoin or establishing a sovereign wealth fund.
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