Strategic Bitcoin Reserve
- Stephen H Akin
- Mar 6
- 2 min read
Sacks said the Bitcoin reserve was “a digital Fort Knox for the cryptocurrency,”
President Donald Trump late Thursday signed an executive order authorizing the federal government to stockpile cryptocurrency assets that it seizes through law enforcement proceedings, a move aimed at boosting the digital assets industry.
The order also created a separate “U.S. Digital Asset Stockpile” that will contain other cryptocurrencies the government seizes.
Under the executive order, the federal government will hold onto the bitcoin assets that federal law enforcement entities seize, which will go into a “strategic bitcoin reserve,” according a post on X by David Sacks, the White House’s crypto and artificial intelligence czar.
It also authorizes the Treasury and Commerce departments “to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers,” Sacks wrote.
The reserves “will not cost taxpayers a dime,” Sacks wrote.
The strategic Bitcoin Resereve:
The order is part of a broad shift in Washington toward policies aimed at benefiting the crypto industry. It comes ahead of a White House crypto summit on Friday that is set to feature an array of prominent figures in the digital assets world.
“A digital Fort Knox for the cryptocurrency,”
Sacks said the Bitcoin reserve was “a digital Fort Knox for the cryptocurrency,” and the US wouldn’t sell any Bitcoin put in the reserve.
“It will be kept as a store of value,” he added.
As for the digital asset stockpile, Sacks said its purpose is the “responsible stewardship of the government’s digital assets under the Treasury Department.”
Notably, he added that the government wouldn’t acquire additional assets for the stockpile “beyond those obtained through forfeiture proceedings.”
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