United States Embarks on Digital Asset Strategy

In a groundbreaking move, President Donald Trump has signed an executive order to establish a strategic Bitcoin reserve, likened to a 'digital Fort Knox' by White House AI and crypto czar David Sacks. This initiative marks a significant step in the U.S. government's approach to managing digital assets.

Funding and Management of the Reserve

The reserve will be funded with Bitcoin obtained through criminal or civil asset forfeiture proceedings. Emphasizing the reserve's role as a store of value, Sacks assured that the U.S. government has no plans to sell any of the Bitcoin held within this reserve. Additionally, the Secretaries of Treasury and Commerce have been tasked with developing budget-neutral strategies for acquiring more Bitcoin, ensuring no additional cost to American taxpayers.

Establishment of the US Digital Asset Stockpile

Beyond Bitcoin, the executive order also establishes the US Digital Asset Stockpile, designed to hold digital assets other than Bitcoin that are forfeited in criminal or civil proceedings. Sacks highlighted the government's commitment to responsible stewardship of these digital assets under the Treasury Department, with a clear directive against acquiring additional assets for the Stockpile beyond those obtained through forfeiture.