Washington, March 7 – U.S. President Donald Trump has signed an executive order to establish a strategic Bitcoin reserve, marking a significant step in integrating cryptocurrency into the country’s financial framework. As per agency reports, the White House confirmed on Friday that the process of creating the reserve has officially begun under the President’s directive.
While most countries, including India, have yet to grant official recognition to Bitcoin, Trump's initiative is expected to bolster its global acceptance. According to the White House statement, the reserve will be funded using Bitcoin assets already seized by the federal government through criminal or civil forfeiture proceedings, ensuring that no taxpayer money will be used for this initiative.
The U.S. government currently holds approximately 200,000 Bitcoins, though no comprehensive audit has been conducted to confirm the exact number. The executive order mandates a full accounting of all digital assets owned by the federal government. Unlike previous instances where seized Bitcoin was liquidated, the administration has decided to retain these holdings as a store of value. The White House compared the initiative to a digital version of Fort Knox, underscoring Bitcoin’s reputation as "digital gold."
Reports indicate that premature Bitcoin sales by the U.S. government have already led to losses exceeding $17 billion for taxpayers. The new strategy aims to maximize the value of these holdings rather than selling them at undervalued prices. The Treasury and Commerce Departments have been authorized to develop budget-neutral strategies to acquire additional Bitcoin, provided these measures do not impose any financial burden on taxpayers.
The executive order also includes the creation of a U.S. Digital Asset Stockpile, which will encompass other digital assets seized through legal proceedings. However, the government will not actively purchase additional digital assets beyond those acquired through forfeiture. The primary objective of this initiative is to ensure responsible management of digital assets under the U.S. Treasury Department.
Emphasizing Trump's commitment to making the U.S. the "crypto capital of the world," the White House reiterated that this executive order fulfills promises made during his administration. David Sacks, the White House’s AI and Crypto Czar, praised Trump's leadership and vision in advancing cutting-edge financial technology. He also acknowledged the contributions of Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Bo Hines, who played a crucial role in implementing the initiative.
With this move, the U.S. is positioning itself as a leader in cryptocurrency management, setting a precedent for how governments can integrate digital assets into their economic strategies.
