#BitcoinWithTariffs

President Donald Trump's decision to establish official government reserves of cryptocurrencies in the United States has drawn criticism from industry observers.

He has signed an executive order to create what he calls the Strategic Bitcoin Reserve in addition to a stockpile of digital assets, which will consist of other forms of digital currencies.

The funds will be stored in coins confiscated by the federal government as part of criminal or civil proceedings.

David Sacks, an expert in artificial intelligence and cryptocurrencies at the White House, likened it to the "digital Fort Knox for cryptocurrencies," comparing it to the Kentucky military base that stores a large portion of America's gold assets.

However, some cryptocurrency enthusiasts criticized the government for not taking a bolder stance, while others raised questions about the lack of transparency regarding the process.