President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve.
White House Crypto and AI Czar David Sacks said the reserve will be funded exclusively with bitcoin seized in criminal and civil forfeiture cases, ensuring that taxpayers bear no financial burden.
The order also establishes a U.S. Digital Asset Stockpile, managed by the Treasury Department, to hold other confiscated cryptocurrencies.
President Donald Trump signed an executive order on Thursday creating a Strategic Bitcoin Reserve, marking a major shift in U.S. digital asset policy.
White House Crypto and AI Czar David Sacks, a Silicon Valley venture capitalist, wrote in a post on X that the reserve will be funded exclusively with bitcoin seized in criminal and civil forfeiture cases, ensuring that taxpayers bear no financial burden.
According to estimates, the U.S. government controls approximately 200,000 bitcoin, though no full audit has ever been conducted. Trump’s order mandates a comprehensive accounting of federal digital asset holdings and prohibits the sale of bitcoin from the reserve, positioning it as a permanent store of value.
Additionally, the order establishes a U.S. Digital Asset Stockpile, managed by the Treasury Department, to hold other confiscated cryptocurrencies.
Many crypto investors who have supported Trump raised concerns over the weekend after the president said in a post on Truth Social that in addition to bitcoin, ether, XRP, Solana’s SOL token, and Cardano’s ADA coin would be part of a strategic crypto reserve.
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Trump signs executive order establishing U.S. strategic bitcoin reserve
By MacKenzie Sigalos, CNBC • Published 6 hours ago • Updated 21 mins ago
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AI and Crypto Czar David Sacks speaks with President Donald J Trump as he signs executive orders in the Oval Office at the White House on Jan. 23, 2025 in Washington, DC.
Jabin Botsford | The Washington Post | Getty Images
AI and Crypto Czar David Sacks speaks with President Donald J Trump as he signs executive orders in the Oval Office at the White House on Jan. 23, 2025 in Washington, DC.
President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve.
White House Crypto and AI Czar David Sacks said the reserve will be funded exclusively with bitcoin seized in criminal and civil forfeiture cases, ensuring that taxpayers bear no financial burden.
The order also establishes a U.S. Digital Asset Stockpile, managed by the Treasury Department, to hold other confiscated cryptocurrencies.
President Donald Trump signed an executive order on Thursday creating a Strategic Bitcoin Reserve, marking a major shift in U.S. digital asset policy.
24/7 San Diego news stream: Watch NBC 7 free wherever you are
White House Crypto and AI Czar David Sacks, a Silicon Valley venture capitalist, wrote in a post on X that the reserve will be funded exclusively with bitcoin seized in criminal and civil forfeiture cases, ensuring that taxpayers bear no financial burden.
According to estimates, the U.S. government controls approximately 200,000 bitcoin, though no full audit has ever been conducted. Trump’s order mandates a comprehensive accounting of federal digital asset holdings and prohibits the sale of bitcoin from the reserve, positioning it as a permanent store of value.
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Additionally, the order establishes a U.S. Digital Asset Stockpile, managed by the Treasury Department, to hold other confiscated cryptocurrencies.
Many crypto investors who have supported Trump raised concerns over the weekend after the president said in a post on Truth Social that in addition to bitcoin, ether, XRP, Solana’s SOL token, and Cardano’s ADA coin would be part of a strategic crypto reserve.
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“I have nothing against XRP, SOL, or ADA but I do not think they are suitable for a Strategic Reserve,” bitcoin billionaire Tyler Winklevoss wrote. “Only one digital asset in the world right now meets the bar and that digital asset is bitcoin.”
SOL, ether and bitcoin all fell around 5% late Thursday, while ADA plunged nearly 12%.
Ahead of the announcement, Castle Island Venture’s Nic Carter told CNBC that the U.S. committing to a bitcoin-only reserve would “ratify bitcoin as a global asset of consequence, somewhere in the realm of gold.”
“The U.S. is clearly the most important nation in the world, and so their stamp of approval really does a lot for bitcoin,” Carter said, noting that including any digital currencies other that bitcoin would have made it look like another speculative fund.
