President-elect Donald Trump met with Crypto.com CEO Kris Marszalek on Dec. 16 at Mar-a-Lago. The meeting focused on proposed crypto-related appointments within financial departments and Congress, as well as drafts of a U.S. Strategic Bitcoin Reserve to be managed within the Treasury’s Exchange Stabilization Fund, as previously mentioned in Trump’s Nashville speech in July.
After the meeting, Bitcoin Magazine released a draft executive order from the Bitcoin Policy Institute. The policy framework within it outlines the creation of the Strategic Bitcoin Reserve, aiming to classify Bitcoin as a strategic reserve asset within the Treasury’s Exchange Stabilization Fund to enhance U.S. economic security. Strict audits and security standards will be enforced. All government-owned BTC, including that obtained from forfeiture cases, must be consolidated under the SBR within seven days. Additionally, the Treasury is required to set up a program within 60 days to acquire and manage its BTC holdings. This order is part of an effort to solidify the United States’ leadership in digital assets and build economic resilience and global financial supremacy.
This meeting with the 45-year-old CEO follows a recent phone call between Trump and Coinbase CEO Brian Armstrong on Nov. 19. Besides consulting crypto firm CEOs, Trump has enlisted several crypto proponents like Howard Lutnick as commerce secretary and Paul Atkins to lead the U.S. Securities and Exchange Commission in his upcoming term, strengthening his pro-crypto stance.
Bitcoin hit an all-time high of $108,268.45 on Dec. 17, potentially spurred by the news of Trump’s meeting with Marszalek. Meanwhile, Derek Merrin, leading the Ohio House Republicans, has proposed a bill to introduce a state-backed Bitcoin Reserve.
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