U.S. President Donald Trump has officially made the United States the largest nation-state holder of Bitcoin by signing an executive order this evening to create a Strategic Bitcoin Reserve. The reserve will hold an estimated 200,000 BTC, marking a significant shift in U.S. financial strategy and reinforcing Bitcoin’s role in the global economy.
David Sacks, President Trump’s Crypto Czar, provided further clarification on the newly established reserve, stating that the reserve will be funded by Bitcoin already owned by the federal government, specifically assets forfeited in criminal and civil asset forfeiture proceedings. “This means it will not cost taxpayers a dime,” he emphasized.
The executive order also mandates a comprehensive audit of the federal government’s Bitcoin holdings, as the exact quantity of BTC under U.S. control has never been fully accounted for. Sacks noted: “It is estimated that the U.S. government owns about 200,000 bitcoin; however, there has never been a complete audit. The E.O. directs a full accounting of the federal government’s digital asset holdings.”
A key provision of the executive order ensures that the government will not sell any Bitcoin deposited into the reserve. Instead, it will serve as a long-term store of value, with Sacks likening it to “a digital Fort Knox for the cryptocurrency often called ‘digital gold.’”
Highlighting past financial missteps, Sacks explained how premature sales of Bitcoin by the government have cost taxpayers over $17 billion in lost value. With the new reserve, the administration seeks to avoid such losses while strategically maximizing Bitcoin’s long-term value.
Additionally, the executive order grants the Secretaries of Treasury and Commerce the authority to develop budget-neutral strategies for acquiring more Bitcoin, provided that such acquisitions come at no incremental cost to American taxpayers.
The executive order also establishes a U.S. Digital Asset Stockpile, which will include non-Bitcoin digital assets seized in forfeiture proceedings. However, no additional assets will be acquired for this stockpile beyond those obtained through such means.
Sacks concluded by praising the administration’s commitment to digital assets: “President Trump promised to create a Strategic Bitcoin Reserve and Digital Asset Stockpile. Those promises have been kept.” He credited key officials, including Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Executive Director Bo Hines, for their role in executing this initiative.
This landmark decision positions the United States at the forefront of the global Bitcoin economy. With this move, President Trump’s administration is signaling a bold embrace of Bitcoin as a core component of national financial strategy.
Bluesky continues to beef up its video capabilities. The app’s adds support for uploads of…
Elon Musk takes a hammer-and-nail approach to everything, LinkedIn co-founder Reid Hoffman says. Source link
Uncertainty from text analysis, and from consumer surveys: First economic policy uncertainty: Figure 1: EPU…
Bitcoin price fluctuations are frequently evaluated using on-chain metrics, technical indicators, and macroeconomic trends. However,…
Tesla has been a target of protests and vandalism in the U.S. and elsewhere after…
"People did not regard this as a particularly healthy economy,” one historian said about the…