Bitcoins <\/p>\n
Update (March 7, 3:10 am UTC): This article has been updated to add information from a White House fact sheet.<\/p>\n
Update (March 7, 12:55 am UTC): This article has been updated to add more information from David Sacks\u2019 X post and information on US government crypto holdings.<\/p>\n
US President Donald Trump has signed an executive order that creates a \u201cStrategic Bitcoin Reserve\u201d and a \u201cDigital Asset Stockpile,\u201d both of which will initially use cryptocurrency forfeited in government criminal cases.<\/p>\n
\u201cJust a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve,\u201d White House AI and crypto czar David Sacks said<\/a> in a March 7 X post.<\/p>\n \u201dThe Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings,\u201d he added.<\/p>\n Additionally, a March 6 fact sheet<\/a> from the White House said the order also establishes a \u201cU.S. Digital Asset Stockpile,\u201d which Sacks said would be made up of cryptocurrencies other than Bitcoin.<\/p>\n JUST NOW! <\/p>\n President Trump signs an Executive Order establishing the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile ???????? pic.twitter.com\/N9p2sQknVS<\/a><\/p>\n<\/div>\n \u2014 Margo Martin (@MargoMartin47) March 7, 2025<\/a><\/p><\/blockquote>\n Bloomberg had earlier reported that Trump was expected to sign an executive order<\/a> establishing a Bitcoin reserve during the White House Crypto Summit on March 7, with one option that included seeding it with government-owned crypto.<\/p>\n Sacks said the Bitcoin reserve was \u201ca digital Fort Knox for the cryptocurrency,\u201d and the US wouldn\u2019t sell any Bitcoin put in the reserve.<\/p>\n \u201cIt will be kept as a store of value,\u201d he added.<\/p>\n The White House said that Bitcoin owned by the Treasury Department would seed the reserve, and other federal agencies \u201cwill evaluate their legal authority\u201d to transfer any Bitcoin they own into the reserve.<\/p>\n It added the Treasury and Commerce secretaries would make \u201cbudget-neutral strategies\u201d for buying more Bitcoin for the reserve, \u201cprovided that those strategies impose no incremental costs on American taxpayers.\u201d<\/p>\n As for the digital asset stockpile, Sacks said its purpose is the \u201cresponsible stewardship of the government\u2019s digital assets under the Treasury Department.\u201d<\/p>\n Notably, he added that the government wouldn\u2019t buy additional cryptocurrencies for the stockpile \u201cbeyond those obtained through forfeiture proceedings,\u201d and the Treasury Secretary \u201cmay determine strategies for responsible stewardship, including potential sales\u201d from the stockpile.<\/p>\n Days earlier, on March 3, Trump posted on his Truth Social platform that the crypto reserve<\/a> would include XRP (XRP<\/a>), Solana (SOL<\/a>) and Cardano (ADA<\/a>).<\/p>\n He later added Ether (ETH<\/a>) and Bitcoin (BTC<\/a>) would be \u201cthe heart\u201d of the reserve.<\/p>\n Arkham Intelligence data<\/a> shows the US government doesn\u2019t hold any XRP, SOL or ADA among the $18.28 billion worth of crypto under its control.<\/p>\n Related:<\/strong><\/em> Trump\u2019s World Liberty bought $20M worth of crypto ahead of March 7 summit<\/strong><\/em><\/a><\/p>\n Its largest holding is 198,109 Bitcoin, worth $17.87 billion. Its ETH holdings are worth $119 million, the third-largest holding behind $122 million worth of the stablecoin Tether (USDT<\/a>).<\/p>\n However, Sacks claimed there had never been a complete audit of the government\u2019s crypto holdings, and Trump\u2019s latest order \u201cdirects a full accounting of the federal government\u2019s digital asset holdings.\u201d<\/p>\n The White House said that agencies must give a full accounting of their crypto holdings to the Treasury Secretary and the President\u2019s crypto working group established in January through an executive order<\/a> to study the creation of a crypto stockpile.<\/p>\n Magazine:<\/strong><\/em> Trump\u2019s crypto ventures raise conflict of interest, insider trading questions<\/strong><\/em><\/a><\/p>\n\n