U.S. creates strategic bitcoin reserve

U.S. President Donald Trump has signed an executive order to establish a "Strategic Bitcoin Reserve" and a "Digital Asset Stockpile," which will initially be funded with cryptocurrencies confiscated in government criminal cases.

Official Announcement

The signing of the order was announced on March 7 via the social network X by White House cryptocurrency advisor David Sacks.

"Just a few minutes ago, President Trump signed an executive order to create the Strategic Bitcoin Reserve," Sacks wrote.

The advisor noted that the reserve will be funded with BTC seized through criminal or civil proceedings.

U.S. Digital Asset Stockpile

According to a White House bulletin dated March 6, the order also mandates the creation of a "U.S. Digital Asset Stockpile." This fund will include cryptocurrencies other than Bitcoin and will be managed by the Treasury Department.

Sacks emphasized that the government will not purchase additional digital assets for this stockpile, aside from confiscated funds. The Treasury Secretary will have the authority to determine management strategies for these assets, including the possibility of selling them.

Role of the Bitcoin Reserve

Earlier, Bloomberg reported that Trump intended to sign the order during a cryptocurrency summit at the White House on March 7. One of the proposed plans involved funding the reserve with government-owned cryptocurrencies.

Sacks described the reserve as a "digital Fort Knox for cryptocurrency" and stressed that the U.S. would not sell any Bitcoin from the fund.

Funding Sources for the Reserve

The White House announced that BTC held by the Treasury Department would be used to fund the reserve. Additionally, other federal agencies will assess their legal ability to transfer confiscated assets to the reserve.

Meanwhile, the Treasury and Commerce Departments will develop budget-neutral strategies for acquiring additional crypto assets. This means the U.S. government does not plan to spend taxpayer money on purchasing digital assets.