2025-3-7 12:35 |
David Sacks estimated that the US government holds around 200,00 Bitcoin He said the US won’t sell any Bitcoin deposited into the Reserve The Digital Asset Stockpile will hold digital assets other than Bitcoin forfeited in criminal or civil proceedings
US President Donald Trump has signed an executive order establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile.
White House AI and crypto czar David Sacks posted a message on X on March 7 highlighting the news. He said:
“The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime.”
Sacks estimated that the US government holds around 200,000 Bitcoin; “however, there has never been a complete audit,” Sacks added.
“The US will not sell any Bitcoin deposited into the Reserve. It will be kept as a store of value. The Reserve is like a digital Fort Knox for the cryptocurrency often called “digital gold,” said Sacks.
Yesterday, Sacks said that over the past 10 years, the federal government had sold around 195,000 Bitcoin for $366 million. Today, that figure would be worth around $17 billion. According to Sacks, this lack of “long-term strategy” regarding Bitcoin has cost American taxpayers billions.
JUST NOW!
President Trump signs an Executive Order establishing the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile 🇺🇸 pic.twitter.com/N9p2sQknVS
— Margo Martin (@MargoMartin47) March 7, 2025
Digital Asset StockpileIn addition to the Strategic Bitcoin Reserve, Trump’s executive order establishes a Digital Asset Stockpile.
Sacks noted that this will consist of digital assets other than Bitcoin forfeited in criminal or civil proceedings.
“The government will not acquire additional assets for the Stockpile beyond those obtained through forfeiture proceedings,” he added.
Earlier this month, Trump posted on Truth Social that a crypto reserve would hold Cardano, XRP, and Solana. He later added that Bitcoin and Ethereum would “be the heart of the Reserve.”
Upon hearing that Solana will be added to the crypto reserve, Solana Labs co-founder and CEO Anatoly Yakovenko said he’d prefer no reserve. Posting on X, he added: “because if you want decentralization to fail you’d put the government in charge of it.”
My reserve order of preference
1. No reserve, because if you want decentralization to fail you’d put the government in charge of it.
2. Or states run their own reserve as a hedge against the fed making a mistake
3. Or if there has to be a reserve, it’s based on objectively… https://t.co/LfYXCIeRnG
— toly 🇺🇸 (@aeyakovenko) March 6, 2025
The post President Trump signs executive order for a Strategic Bitcoin Reserve appeared first on CoinJournal.
origin »Bitcoin (BTC) на Currencies.ru
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