Donald Trump Signs Strategic Bitcoin Reserve Order
US President Donald Trump has signed an executive order establishing both a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, initially funded with cryptocurrency seized in criminal cases.
“Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve,” announced David Sacks, the White House AI and crypto czar, in a March 7 post on X.
He further explained:
“The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings.”
A March 6 fact sheet from the White House confirmed that the order also creates a U.S. Digital Asset Stockpile, which, according to Sacks, will consist of cryptocurrencies other than Bitcoin.
Before the official announcement, Bloomberg had reported that Trump was expected to sign the order during the White House Crypto Summit on March 7, with one proposal involving the use of government-seized crypto to seed the reserve.
Sacks described the Bitcoin reserve as “a digital Fort Knox for the cryptocurrency,” emphasizing that the U.S. government will not sell any Bitcoin placed in the reserve.
“It will be kept as a store of value,” he added.
According to the White House, Bitcoin currently held by the Treasury Department will be used to start the reserve, while other federal agencies will review their legal authority to transfer any Bitcoin they own into the reserve.
Additionally, the Treasury and Commerce secretaries have been directed to develop “budget-neutral strategies” to acquire more Bitcoin, ensuring no additional costs for U.S. taxpayers.
Regarding the Digital Asset Stockpile, Sacks described its purpose as the “responsible stewardship of the government’s digital assets under the Treasury Department.”
However, he clarified that the government will not purchase additional cryptocurrencies for this stockpile, apart from those obtained through forfeiture cases.
He also noted that the Treasury Secretary may determine strategies for managing the stockpile, including the possibility of selling some assets.
On March 3, Trump posted on Truth Social that the crypto reserve would include XRP, Solana, and Cardano.
Later, he stated that “Ether and Bitcoin would be the heart of the reserve.”
However, Arkham Intelligence data shows that the U.S. government does not currently hold any XRP, SOL, or ADA among its $18.28 billion in crypto assets.
The government’s largest holdings include 198,109 BTC (~$17.87 billion), ETH worth $119 million, and $122 million in USDT.
Sacks pointed out that no full audit of the government’s crypto holdings has ever been conducted.
He stated that Trump’s latest order “directs a full accounting of the federal government’s digital asset holdings.”
The White House added that federal agencies are now required to report their crypto holdings to both the Treasury Secretary and the President’s crypto working group, which was established in January to study the creation of a crypto stockpile.
Sources:
https://cointelegraph.com/news/donald-trump-signs-executive-order-strategic-bitcoin-reserve
https://x.com/davidsacks47/status/1897802280738734236
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