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Trump Confirms US Will Not Buy XRP for Strategic Reserve
President Donald Trump has finally signed an executive order for a crypto strategic reserve, but the order confirms the US will not buy XRP or other altcoins.
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Recall that on March 2, the president announced plans to create a digital asset reserve that would include Bitcoin, Ethereum, XRP, Cardano, and Solana. However, this statement was only shared on Truth Social, with no official directive at the time.
Crypto communities waited for an executive order, and four days later, on March 6, Trump signed it. Nonetheless, the order separated Bitcoin from other digital assets and confirmed the government’s decision not to purchase additional altcoins like XRP.
David Sacks, the White House official overseeing crypto and AI policy, first disclosed portions of the order on X. He confirmed that the US government holds around 200,000 Bitcoin. Notably, the government had continued to sell off most of its holdings, seized from criminals in the past.
According to Sacks, these Bitcoin sales had cost US taxpayers an estimated $17 billion in lost value, as confirmed yesterday by The Crypto Basic. The new policy aims to maximize the government’s holdings by securing Bitcoin as a strategic asset, similar to gold.
Executive Order Details
Particularly, details of the executive orderofficially confirmed the establishment of the Strategic Bitcoin Reserve and the United States Digital Asset Stockpile. The Treasury Department is responsible for managing these assets, with specific policies for their oversight.
Notably, Bitcoin held by the government, primarily obtained through asset forfeitures, will be transferred to the Strategic Bitcoin Reserve. Unlike previous practices, the order prohibits the sale of Bitcoin from this reserve, confirming its position as a protected financial resource.
Pee the order, the Treasury and Commerce Departments will develop strategies for acquiring more Bitcoin, as long as they are budget-neutral and do not add costs to taxpayers. This might contrast Senator Cynthia Lummis’ proposal of purchasing 1 million BTC.
Meanwhile, altcoins, including XRP, Ethereum, Cardano, and Solana, will fall under the United States Digital Asset Stockpile. However, the order explicitly states that the government will not purchase more of these assets beyond what it acquires through legal forfeitures.
The Treasury will manage them under a separate framework and may dispose of them based on legal or regulatory considerations.
The executive order also requires federal agencies to conduct an audit of all government-owned digital assets within 30 days. This report will determine the full extent of crypto holdings and facilitate the transfer of assets into the designated reserves.
XRP Community Reactions
Following the release of the executive order, market analyst Blockchain Backer questioned Sacks about previous reports suggesting a strategic crypto reserve that included XRP, Solana, and Cardano. He pointed out that the government does not currently own these assets in significant amounts.
Notably, some crypto proponents speculatethat the government might soon acquire XRP through the ongoing legal case between Ripple and the SEC. The lawsuit could result in Ripple paying a $125 million settlement in XRP, potentially increasing the government’s holdings. However, this remains speculative and unconfirmed.
Another analyst, Moon Lambo, suggestedthat the government might already own small amounts of XRP, Cardano, and Solana through lesser-known forfeiture cases. Despite this, he stressed that these holdings may not be large enough.
DisClamier:
This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect LACHAKARI opinion. Readers are encouraged to do thorough research before making any investment decisions. LACHAKARI is not responsible for any financial losses.
$XRP
#xrp #Xrp🔥🔥 #BBWDocuSeries #USJobsSlump #MtGoxTransfers
Follow LACHAKARI
Recall that on March 2, the president announced plans to create a digital asset reserve that would include Bitcoin, Ethereum, XRP, Cardano, and Solana. However, this statement was only shared on Truth Social, with no official directive at the time.
Crypto communities waited for an executive order, and four days later, on March 6, Trump signed it. Nonetheless, the order separated Bitcoin from other digital assets and confirmed the government’s decision not to purchase additional altcoins like XRP.
David Sacks, the White House official overseeing crypto and AI policy, first disclosed portions of the order on X. He confirmed that the US government holds around 200,000 Bitcoin. Notably, the government had continued to sell off most of its holdings, seized from criminals in the past.
According to Sacks, these Bitcoin sales had cost US taxpayers an estimated $17 billion in lost value, as confirmed yesterday by The Crypto Basic. The new policy aims to maximize the government’s holdings by securing Bitcoin as a strategic asset, similar to gold.
Executive Order Details
Particularly, details of the executive orderofficially confirmed the establishment of the Strategic Bitcoin Reserve and the United States Digital Asset Stockpile. The Treasury Department is responsible for managing these assets, with specific policies for their oversight.
Notably, Bitcoin held by the government, primarily obtained through asset forfeitures, will be transferred to the Strategic Bitcoin Reserve. Unlike previous practices, the order prohibits the sale of Bitcoin from this reserve, confirming its position as a protected financial resource.
Pee the order, the Treasury and Commerce Departments will develop strategies for acquiring more Bitcoin, as long as they are budget-neutral and do not add costs to taxpayers. This might contrast Senator Cynthia Lummis’ proposal of purchasing 1 million BTC.
Meanwhile, altcoins, including XRP, Ethereum, Cardano, and Solana, will fall under the United States Digital Asset Stockpile. However, the order explicitly states that the government will not purchase more of these assets beyond what it acquires through legal forfeitures.
The Treasury will manage them under a separate framework and may dispose of them based on legal or regulatory considerations.
The executive order also requires federal agencies to conduct an audit of all government-owned digital assets within 30 days. This report will determine the full extent of crypto holdings and facilitate the transfer of assets into the designated reserves.
XRP Community Reactions
Following the release of the executive order, market analyst Blockchain Backer questioned Sacks about previous reports suggesting a strategic crypto reserve that included XRP, Solana, and Cardano. He pointed out that the government does not currently own these assets in significant amounts.
Notably, some crypto proponents speculatethat the government might soon acquire XRP through the ongoing legal case between Ripple and the SEC. The lawsuit could result in Ripple paying a $125 million settlement in XRP, potentially increasing the government’s holdings. However, this remains speculative and unconfirmed.
Another analyst, Moon Lambo, suggestedthat the government might already own small amounts of XRP, Cardano, and Solana through lesser-known forfeiture cases. Despite this, he stressed that these holdings may not be large enough.
DisClamier:
This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect LACHAKARI opinion. Readers are encouraged to do thorough research before making any investment decisions. LACHAKARI is not responsible for any financial losses.
$XRP
#xrp #Xrp🔥🔥 #BBWDocuSeries #USJobsSlump #MtGoxTransfers
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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