Trump Signs Executive Order to Establish Strategic Bitcoin Reserve

BlockBeats News, March 7th, White House AI and Cryptocurrency Czar David Sacks posted on social media, "Just a few minutes ago, President Trump signed an executive order establishing a strategic Bitcoin reserve. The reserve will be capitalized with Bitcoin owned by the federal government, which has been seized in criminal or civil asset forfeiture proceedings, meaning not a single taxpayer dollar will be spent."

It is estimated that the U.S. government holds about 200,000 Bitcoins; however, a full audit has never been conducted. The executive order mandates a comprehensive account of the federal government's digital asset holdings. The U.S. will not sell any Bitcoin deposited into the reserve. It will be held as a store of value.

The Treasury Secretary and Commerce Secretary are authorized to devise budget-neutral (budget not increasing) strategies to acquire more Bitcoin without increasing the taxpayer burden.

Furthermore, the executive order also establishes the U.S. Digital Asset Reserve, which includes digital assets other than Bitcoin seized in criminal or civil litigation. Apart from assets obtained through forfeiture proceedings, the government will not purchase additional assets for the reserve. The purpose of the reserve is to manage government digital assets under the leadership of the Treasury Department."