In a landmark decision, President Donald Trump has signed an executive order to create a “Strategic Bitcoin Reserve” and a corresponding “Digital Asset Stockpile,” further integrating cryptocurrency into national financial strategy.
The initiative, unveiled by White House digital and crypto advisor David Sacks on March 7, is designed to stockpile Bitcoin as a store of value, drawing comparisons to the nation’s physical gold reserve at Fort Knox. This reserve will primarily consist of Bitcoin forfeited through federal criminal investigations, rather than newly purchased assets.
A fact sheet released by the White House clarifies that the reserve will not involve the sale of Bitcoin but will instead hold the digital currency as a long-term asset. The Treasury Department will spearhead the initial Bitcoin acquisition, with additional contributions potentially coming from other federal agencies, pending legal reviews. The plan also includes purchasing more Bitcoin without burdening taxpayers.
The executive order goes a step further, establishing a broader “U.S. Digital Asset Stockpile” to hold other digital currencies obtained through legal forfeiture. Although the government has expressed interest in holding assets like XRP, Solana, and Cardano, its current cryptocurrency holdings primarily include Bitcoin, Ethereum, and Tether.
The order mandates a comprehensive audit of the U.S. government’s digital assets, requiring federal agencies to submit detailed reports on their crypto holdings to the Treasury Secretary. This ensures full transparency regarding the government’s digital asset portfolio.
This executive move marks a significant step in positioning cryptocurrency as an integral part of the U.S. economic and strategic framework.
Related topics:
Hamster Network Hits 34,028 TPS, Beating Solana and Aptos
Ripple Releases 1 Billion XRP Tokens from Escrow
Crypto Market Sees Sharp Decline Amid Trump Tariff Announcement
