A strategic reserve of Bitcoin and a stockpile of digital assets: Today, President Donald J. Trump signed an executive order to create a strategic reserve of Bitcoin and a stockpile of U.S. digital assets, placing the United States in a leading position among nations in the government digital asset strategy.
The order establishes a strategic reserve of Bitcoin that will treat Bitcoin as a reserve asset.
The strategic Bitcoin reserve will be funded by Bitcoins owned by the Treasury, which were seized through criminal or civil asset forfeiture actions. Other entities will assess their legal authority to transfer any Bitcoin they own to the strategic Bitcoin reserve.
The United States will not sell the Bitcoin held in this strategic Bitcoin reserve, which will be kept as a store of reserve assets.
Treasury and Commerce secretaries are authorized to develop budget-neutral strategies to acquire more Bitcoin, provided these strategies do not impose any additional costs on American taxpayers.
It has also established an American stockpile of digital assets, consisting of other digital assets besides Bitcoin owned by the Treasury that were seized in criminal or civil asset forfeiture actions.
The government will not purchase additional assets for the inventory of U.S. digital assets other than those acquired through forfeiture actions.
The Secretary of the Treasury may establish responsible management strategies, including potential sales from the inventory of U.S. digital assets.
Agencies must provide a complete account of their digital asset holdings to the Secretary of the Treasury and the presidential task force on digital asset markets.
This order ensures a strategic approach to managing digital assets under U.S. control.
Addressing the cryptocurrency management gap:
Bitcoin, the original cryptocurrency, is referred to as 'digital gold' due to its scarcity and security, as it has never been hacked.
With a fixed supply of 21 million coins, there is a strategic advantage to being among the first countries to establish a strategic Bitcoin reserve.
The United States currently holds a significant amount of Bitcoin, but has not worked to maximize its strategic position as a unique store of value in the global financial system.
The early sales of Bitcoin have cost U.S. taxpayers more than $17 billion.
The executive order begins to address the uncoordinated handling of cryptocurrencies seized through forfeiture, which have been distributed across various federal agencies.
Currently, there is no clear policy for managing these assets, leading to a lack of accountability and insufficient exploration of available options for centralizing their value, securing them, or maximizing them.
Taking positive steps towards centralizing the ownership, control, and management of these assets within the federal government will ensure proper oversight, precise tracking, and a coherent approach to managing government holdings of cryptocurrencies.
This move seeks to harness the power of digital assets to achieve national prosperity, rather than leaving it in a state of neglect.
Fulfilling his promise to make America the capital of cryptocurrency in the world: President Trump is fulfilling his promise to position America as a global leader in cryptocurrency.
President Trump promised to make the United States the 'capital of cryptocurrency in the world', emphasizing the need to embrace digital assets to drive economic growth and technological leadership.
In his first week in office, President Trump signed an executive order to enhance the United States' leadership in digital assets such as cryptocurrencies.
President Trump has long called for a forward-looking approach to cryptocurrency, stating, 'I am very optimistic and open to cryptocurrency companies, and everything related to this emerging and nascent industry. Our country should be a leader in this field.'
President Trump promised to create a strategic reserve of Bitcoin and a stockpile of digital assets.
President Trump has appointed a 'Czar of Cryptocurrency' and is hosting the first-ever cryptocurrency summit at the White House, and these are just a few examples of the many ways this administration is demonstrating its strong commitment to this digital asset.
