🚨David Sacks: President Trump has signed an Executive Order to create a Strategic Bitcoin Reserve Fund
Summary of Trump's Executive Order:
- The federal government will establish a Bitcoin reserve fund.
- This fund will use the Bitcoin obtained from criminal or civil asset seizures, meaning it will not use taxpayers' money.
- It is estimated that the U.S. government owns about 200,000 BTC, however, a full audit has never been conducted. This order requires a review of all digital assets owned by the federal government.
- The Secretary of the Treasury and the Secretary of Commerce are authorized to develop a strategy to accumulate more Bitcoin without increasing costs to the federal budget, and without using taxpayers' money.
- Additionally, the U.S. Digital Asset Reserve will be established to hold other altcoins besides Bitcoin. This reserve will only contain assets seized in cases and will not purchase any new assets.
