LIVE: President Trump Signs Executive Order Establishing U.S. Strategic Bitcoin Reserve | USA | CNBC TV18
Following the decision to create a 'Strategic Bitcoin Reserve', United States President Donald Trump said that he's working to end the government's "war on crypto"
Addressing the Crypto Summit at the White House, Donald Trump heavily criticised former President Joe Biden's stringent actions against cryptocurrencies such as Bitcoin and expressed a more welcoming approach by his administration.
"My administration is working to end the federal bureaucracies' war on crypto which was really going pretty wildly during Biden until the election came about. 5 months before the elections he became a big fan because he heard how many people love it and respect it but i guess it didn't work out for him."
President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve.
White House Crypto and AI Czar David Sacks said the reserve will be funded exclusively with bitcoin seized in criminal and civil forfeiture cases, ensuring that taxpayers bear no financial burden.
The order also establishes a U.S. Digital Asset Stockpile, managed by the Treasury Department, to hold other confiscated cryptocurrencies.
President Donald Trump signed an executive order on Thursday creating a Strategic Bitcoin Reserve, marking a major shift in U.S. digital asset policy. Meanwhile, President Trump and his administration have quietly nixed plans for his promised "crypto council," Decrypt reported.
White House Crypto and AI Czar David Sacks, a Silicon Valley venture capitalist, wrote in a post on X that the reserve will be funded exclusively with bitcoin seized in criminal and civil forfeiture cases, ensuring that taxpayers bear no financial burden.
According to estimates, the U.S. government controls approximately 200,000 bitcoin, though no full audit has ever been conducted. Trump’s order mandates a comprehensive accounting of federal digital asset holdings and prohibits the sale of bitcoin from the reserve, positioning it as a permanent store of value.
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