After much expectation, President Donald Trump finally signed an executive order to set up a Bitcoin strategic reserve. According to this plan, the US government will create a “digital fort Knox” to seize Bitcoin and other cryptocurrencies in civil or criminal cases.
The reserve aims to maintain this digital assets for the long -term value, which marks a considerable shift in the way in which the government deals with seized crypto. David Sacks, Trump’s Crypto Czar, shared the latest development in a newest X after.
“The reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of the procedures for criminal or civil assets. This means that the taxpayers do not cost a dime, “Sacks noted.
We to preserve ‘digital gold’
He also noted that although the US government owns around 200,000 Bitcoin, but a complete audit of this assets has never been carried out. The new executive order calls for extensive accounting for the digital asset companies of the federal government.
The US will not sell Bitcoin that is stored in the reserve; Instead, it is stored as a long -term storage of value. The reserve is essentially a digital version of Fort Knox, designed to protect the cryptocurrency known as ‘digital gold’.
The US government has already lost more than $ 17 billion in value by selling Bitcoin too early, but now the federal government has a new plan to maximize the value of its Bitcoin Holdings. Treasury and Commerce’s secretaries will develop strategies to gain more Bitcoin without costing taxpayers extra money.
The executive order also creates an American digital assets stock, which stores digital assets, apart from Bitcoin, which are seized in criminal or civil matters. The government will only add assets to the stock of forfeit statement, not by buying them. Sacks emphasized that the aim of the stock is to manage the digital assets of the government in a responsible manner, under the supervision of the Ministry of Finance.
Promises made, promises!
President Trump had previously promised to set up a strategic Bitcoin reserve and a digital assets stock and now are being realized by these promises.
Sacks emphasizes that this executive order emphasizes its constant dedication to position the US as the ‘crypto capital of the world’, which take important steps to integrate digital assets into the financial future of the country.
Sacks expressed his gratitude and admiration to the president for his leadership and vision in supporting this advanced technology and for his rapid implementation in supporting the digital asset industry. He noted that Trump administration really moves on ‘Tech Speed’.
He also mentioned the President’s working group on digital asset markets – in particular Treasury Secretary Scott Bessent and trade secretary Howard Lutnick – for their crucial support to blossom this. Finally, he shared that Bo Hines also played an instrumental role as executive director of the working group and played an important role in making this possible.
