US President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve and a digital asset stockpile, aimed at capitalizing on the value of confiscated cryptocurrencies. The Treasury Department will oversee the reserve, which is expected to be capitalized with around 200,000 Bitcoins valued at approximately $17.5 billion.
The move comes shortly after hosting a crypto summit at the White House, where industry leaders and officials discussed economic policies affecting the cryptocurrency market. Critics have raised concerns about the artificial backing of Bitcoin’s value and questioned the need for such a reserve.
Trump had previously announced his intention to direct the government to stockpile several cryptocurrencies, including Bitcoin, Ethereum, and three others, prompting backlash from some in the crypto industry. The executive order also directs a full accounting of the government’s digital assets holdings.
Industry experts say that the market is likely to be affected by Trump’s economic policies, which have included tariffs and investment in cryptocurrency. They stress the importance of maintaining cooperation with regulators and courts to promote policy in a positive direction.
The move marks a significant shift from previous administrations, which had taken a harder line on cryptocurrencies. This development has raised questions about the role of the US government in shaping the future of digital assets.
Source: https://edition.cnn.com/2025/03/06/business/strategic-bitcoin-reserve-trump/index.html