US President Donald Trump could issue an executive order as soon as March 7 to create a reserve for the country to buy Bitcoin, Bloomberg reports. <\/p>\n
<\/span> 29323 <\/span> Total views <\/span><\/p>\n 9 <\/span> Total shares <\/span><\/p>\n<\/div>\n Update (March 6, 11:40 pm UTC): This article has been updated to add an X post from Charles Gasparino and information on US government crypto holdings.<\/p>\n Update (March 7, 12:31 am UTC): US President Donald Trump has since signed an executive order<\/a> establishing a \u201cStrategic Bitcoin Reserve\u201d on March 7.<\/p>\n US President Donald Trump could reportedly sign an executive order to create a Bitcoin reserve during the White House Crypto Summit on March 7.<\/p>\n Such a reserve would be expected to buy more Bitcoin (BTC<\/a>), in comparison to the US hanging on to the BTC it already owns through criminal seizures, Bloomberg reported<\/a> on March 6, citing people familiar with the matter.<\/p>\n However, there\u2019s a range of options for several potential crypto-related executive actions being considered. Trump could also announce that the US will stop selling crypto it has seized<\/a> and use it to seed a national crypto stockpile.<\/p>\n One possible proposal could also affect the tax treatment of crypto, which may need review and approval from Congress.<\/p>\n Trump\u2019s possible actions are still under discussion and might not happen or change, Bloomberg reported.<\/p>\n Trump signed an executive order<\/a> in January creating a working group under White House AI and crypto czar David Sacks to evaluate \u201cthe creation of a strategic national digital assets stockpile.\u201d<\/p>\n On March 2, Trump posted on his social media platform Truth Social that the crypto reserve<\/a> would include XRP (XRP<\/a>), Solana (SOL<\/a>) and Cardano (ADA<\/a>). He later added Ether (ETH<\/a>) and Bitcoin (BTC<\/a>) would be \u201cthe heart\u201d of the reserve.<\/p>\n Meanwhile, Fox Business correspondent Charles Gasparino said<\/a> in a March 6 X post that his sources said the White House was preparing to soon further clarify details of the crypto reserve.<\/p>\n Related:<\/strong><\/em> Trump\u2019s World Liberty bought $20M worth of crypto ahead of March 7 summit<\/strong><\/em><\/a>\u00a0<\/p>\n \u201cMy guess is it will address the funding mechanism, ie, the potential roadblock for buying digital coins [with] taxpayer money (they would need congressional approval, which is next to impossible),\u201d Gasparino said.<\/p>\n Source: <\/em>Charles Gasparino<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n Gasparino said another way to potentially fund crypto purchases would be to use Trump\u2019s idea of a sovereign wealth fund, which he signed an executive order<\/a> to explore creating last month.<\/p>\n He added, as Bloomberg reported, that the White House could look to fund the plan initially with crypto seized in criminal cases.<\/p>\n The US government is holding around $18.28 billion worth of seized crypto, with 198,109 BTC worth $17.87 billion making up the bulk of its holdings, according<\/a> to Arkham Intelligence.<\/p>\n Magazine:<\/strong><\/em> Trump\u2019s crypto ventures raise conflict of interest, insider trading questions<\/strong><\/em><\/a><\/p>\n<\/picture><\/div>\n