Source: The White House, Compiled by Golden Finance
Title: Establishing Strategic Bitcoin Reserves and U.S. Digital Asset Reserves
By the power vested in me as President by the Constitution and the laws of the United States, I hereby order:
Section 1 Background
Bitcoin is the first cryptocurrency. The Bitcoin protocol permanently limits the total supply of BTC to 21 million and has never been hacked. Due to its scarcity and security, Bitcoin is often referred to as 'digital gold.' Because the supply of BTC is fixed, having the strategic advantage of being one of the first countries to create strategic Bitcoin reserves is significant. The U.S. government currently holds a substantial amount of BTC but has yet to implement policies to maximize BTC's strategic position as a unique store of value in the global financial system. Just as our nation needs to thoughtfully manage ownership and control of any other resources, we must harness, not restrict, the power of digital assets to achieve our prosperity.
Section 2 Policy
Establishing strategic Bitcoin reserves is U.S. policy. U.S. policy also includes establishing U.S. digital asset reserves as secure accounts for orderly and strategic management of other U.S. digital asset holdings.
Section 3 Creation and Management of Strategic Bitcoin Reserves and U.S. Digital Asset Reserves
(a) The Secretary of the Treasury shall establish an office to manage and control custodial accounts collectively known as the 'Strategic Bitcoin Reserves,' which shall consist of all BTC held by the Treasury, which are ultimately forfeited as part of criminal or civil asset forfeiture proceedings, or forfeited to satisfy any civil penalties imposed by any department or agency (agencies) and do not need to meet the requirements of 31 USC 9705 or be released pursuant to subsection (d) of this section (government BTC). Within 30 days of the issuance of this order, agencies shall review their authority to transfer any government Bitcoin they hold to the Strategic Bitcoin Reserves and submit a report to the Secretary of the Treasury reflecting the results of such review. Government Bitcoin deposited into the Strategic Bitcoin Reserves shall not be sold and shall be retained as U.S. reserve assets, to be used to achieve government objectives in accordance with applicable law.
(b) The Secretary of the Treasury shall establish an office to manage and control custodial accounts collectively known as the 'U.S. Digital Asset Reserves,' which shall consist of all digital assets owned by the Treasury (excluding BTC), which are ultimately forfeited as part of criminal or civil asset forfeiture proceedings, and do not need to meet the requirements of 31 USC 9705 or be released under this section (reserve assets) subsection. Within 30 days of the issuance of this order, agencies shall review their authority to transfer any reserve assets they hold to the U.S. Digital Asset Reserves and submit a report to the Secretary of the Treasury reflecting the results of such review. The Secretary of the Treasury shall determine strategies for responsible management of the U.S. Digital Asset Reserves in accordance with applicable law.
(c) The Secretary of the Treasury and the Secretary of Commerce shall develop strategies to acquire more government BTC, provided that such strategies do not affect the budget and do not impose incremental costs on U.S. taxpayers. However, the U.S. government shall not acquire additional reserve assets unless related to criminal or civil asset forfeiture proceedings, or to satisfy any civil penalties imposed by any agency without further administrative or legislative action.
(d) 'Government digital assets' refers to all government BTC and all inventory assets. Heads of agencies may not sell or otherwise dispose of any government digital assets unless the Secretary of the Treasury exercises his lawful authority and responsibly manages U.S. digital asset reserves pursuant to subsection (b) of this section, or as required by law, pursuant to an order of a court of competent jurisdiction, or determined by the Attorney General or other relevant agency heads that government digital assets (or proceeds from their sale or disposition) may and should:
(i) Returned to identifiable and verifiable crime victims;
(ii) For law enforcement actions;
(iii) Equitably share with state and local law enforcement partners; or
(iv) Issued to satisfy the requirements of 31 USC 9705, 28 USC 524(c), 18 USC 981, or 21 USC 881.
(e) Within 60 days of the issuance of this order, the Secretary of the Treasury shall assess the legal and investment considerations for establishing and managing the Strategic Bitcoin Reserves and U.S. Digital Asset Reserves, including the accounts to be established for the Strategic Bitcoin Reserves and U.S. Digital Asset Reserves, and the necessity of legislation for the proper management and administration of any aspect of this order or such accounts.
Section 4 Settlement Accounts
Within 30 days of the issuance of this order, heads of agencies shall provide the Secretary of the Treasury and the President's Digital Asset Market Working Group with a complete account of all government digital assets held by the agency, including any information regarding custodial accounts currently holding such government digital assets that is necessary to facilitate the transfer of government digital assets to the Strategic Bitcoin Reserves or U.S. Digital Asset Reserves. If the agency does not hold government digital assets, it shall confirm this fact to the Secretary of the Treasury and the President's Digital Asset Market Working Group within 30 days of the issuance of this order.
Section 5 General Provisions
(a) Nothing in this order shall be construed to impair or otherwise affect:
(i) Powers granted by law to the executive department or agency or its head; or
(ii) Functions related to budget, administrative, or legislative proposals of the Office of Management and Budget Director.
(b) This order shall be implemented in accordance with applicable law and subject to the availability of appropriations.
(c) This order is not intended to, and shall not, create any rights or benefits, substantive or procedural, enforceable by any party against the United States, its departments, agencies or entities, or its officers, employees, or agents, or any other person under law or equity.
The White House,
March 6, 2025
