Washington: US President Donald Trump has signed an executive order to establish a strategic bitcoin reserve, which will be capitalized with bitcoins seized as part of criminal or civil asset forfeiture proceedings, US AI and Crypto Czar David Sacks said on Friday.
“Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve. The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime,” Sacks said on X.
The United States has about 200,000 bitcoins, Sacks noted, adding, however, that a full audit has never been conducted. In this regard, the executive order reportedly requires a full accounting of the government’s digital assets.
“The U.S. will not sell any bitcoin deposited into the Reserve. It will be kept as a store of value … The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers,” he said.
Sacks added that a US Digital Asset Stockpile, consisting of digital assets other than bitcoin seized in criminal or civil proceedings, will also be created.
