The post Trump Signs Executive Order to Establish Bitcoin Strategic Reserve and Digital Asset Stockpile appeared first on Coinpedia Fintech News
After much anticipation, President Donald Trump has finally signed an executive order to establish a Bitcoin Strategic Reserve. Under this plan, the U.S. government will create a “digital Fort Knox” to store Bitcoin and other cryptocurrencies seized in civil or criminal cases.
The reserve aims to preserve these digital assets for long-term value, marking a significant shift in how the government handles seized crypto. David Sacks, Trump’s crypto czar, shared the latest development in a latest X post.
“The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime,” Sacks remarked.
US To Preserve ‘The Digital Gold’
He also noted that while the U.S. government owns around 200,000 Bitcoin, however a full audit of these assets has never been conducted. The new executive order calls for a comprehensive accounting of the federal government’s digital asset holdings.
The U.S. will not sell any Bitcoin stored in the Reserve; instead, it will be preserved as a long-term store of value. The Reserve is essentially a digital version of Fort Knox, designed to safeguard the cryptocurrency known as “digital gold.”
The U.S. government has already lost over $17 billion in value from selling Bitcoin too early, but now the federal government has a new plan to maximise the value of its Bitcoin holdings. The Secretaries of Treasury and Commerce will develop strategies to acquire more Bitcoin without costing taxpayers any extra money.
The Executive Order also creates a U.S. Digital Asset Stockpile, which will store digital assets aside from Bitcoin, that are seized in criminal or civil cases. The government will only add assets to the Stockpile from forfeiture cases, not by purchasing them. Sacks emphasized that the Stockpile’s goal is to responsibly manage the government’s digital assets, under the supervision of the Treasury Department.
Promises Made, Promises Kept!
President Trump had previously promised to establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile and now, those promises are being fulfilled.
Sacks highlights that this Executive Order highlights his ongoing commitment to positioning the U.S. as the “crypto capital of the world,” taking significant steps toward integrating digital assets into the nation’s financial future.
Sacks expressed his gratitude and admiration to the President for his leadership and vision in supporting this cutting-edge technology and for his rapid execution in supporting the digital asset industry. He remarked that Trump administration is truly moving at “tech speed.”
He also mentioned the President’s Working Group on Digital Asset Markets—particularly Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick—for their crucial support in bringing this to fruition. Lastly, he shared that Bo Hines also played an instrumental role as Executive Director of the Working Group, playing a key part in making this happen.