US President Donald Trump, in a move aimed at revitalizing the digital assets sector, has signed an executive order authorizing the federal government to stockpile cryptocurrency assets seized through law enforcement agencies.<\/p>\n
According to a post on X by David Sacks, the White House’s crypto and artificial intelligence czar, under the executive order, the federal government will retain bitcoin assets seized by federal law enforcement, which will enter a “strategic bitcoin reserve.”<\/p>\n
Sacks added that the reserve “will not cost taxpayers a single penny,” further authorizing the Treasury and Commerce departments to “develop budget-neutral strategies to acquire additional bitcoin, provided these strategies do not incur any additional costs on American taxpayers.”<\/p>\n
Sacks wrote about bitcoin, “The reserve is like a digital Fort Knox. The early sale of Bitcoin has already cost US taxpayers over $17 billion in lost value. Now, the federal government will have a strategy to maximize the value of its holdings.”<\/p>\n
The order also established a separate “US Digital Asset Stockpile” to include other cryptocurrencies seized by the government. Earlier this week, Trump hinted at the possibility of including tokens such as Ripple’s XRP, Solana, and Cardano, alongside bitcoin and ether, in what he termed the “Crypto Strategic Reserve,” causing the prices of these tokens to rise with investors’ hopes that the US government would enter the market as a major buyer of digital assets.<\/p>\n
However, crypto prices fell immediately after Sacks’s post and recovered shortly thereafter. According to CoinGecko data, as of 4:45 PM (presumably local time, though unspecified), bitcoin was trading at approximately $88,000, down 2.8% from the previous 24 hours.<\/p>\n
The creation of the reserve and stockpile is part of a broad shift in Washington towards policies aimed at benefiting the crypto industry. It comes ahead of a crypto summit to be held at the White House on Friday, which will be attended by leading figures in the digital assets world.<\/p>\n
For supporters, the bitcoin reserve is a chance for the US to participate in the growth of the original cryptocurrency, and many in the market believe that the market is poised to climb higher as Trump pursues a crypto-friendly regulatory agenda.<\/p>\n
Yet, there are still many questions about how the reserve and stockpile will operate. For example, some critics doubt that the federal government can cash in its bitcoin holdings without spooking other investors and triggering a sell-off.<\/p>\n
Trump first promised to create a crypto reserve during a speech at a major bitcoin conference in July.<\/p>\n
Sacks said, “I want to thank the President for his leadership and vision in supporting this cutting-edge technology and for his swift action in supporting the digital asset industry. His administration is truly moving at ‘technology speed’.”<\/p>\n
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US President Donald Trump, in a move aimed at revitalizing the digital assets sector, has signed an executive order authorizing the federal government to stockpile cryptocurrency assets seized through law enforcement agencies. According to a post on X by David Sacks, the White House’s crypto and artificial intelligence czar, under the executive order, the federal […]<\/p>\n","protected":false},"author":1,"featured_media":8253,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[176],"tags":[3371,7644,7436,7643,7645,7442,4559,7441,7438,7646,319,5615,3489,503,7642,7434,7640,7641,2325,7435],"class_list":["post-8252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-america","tag-bitcoin","tag-bitcoin-reserve","tag-cardano","tag-crypto-market","tag-crypto-regulation","tag-crypto-summit","tag-cryptocurrency","tag-david-sacks","tag-digital-assets","tag-digital-fort-knox","tag-donald-trump","tag-executive-order","tag-federal-government","tag-headline","tag-ripple","tag-solana","tag-strategic-crypto-reserve","tag-us-digital-asset-stockpile","tag-white-house","tag-xrp"],"yoast_head":"\n