{"id":253646,"date":"2025-03-07T04:34:17","date_gmt":"2025-03-07T04:34:17","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/07\/bitcoin-reserve-why-did-trump-just-order-us-to-set-up-a-crypto-stockpile\/"},"modified":"2025-03-07T04:34:17","modified_gmt":"2025-03-07T04:34:17","slug":"bitcoin-reserve-why-did-trump-just-order-us-to-set-up-a-crypto-stockpile","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/07\/bitcoin-reserve-why-did-trump-just-order-us-to-set-up-a-crypto-stockpile\/","title":{"rendered":"Bitcoin reserve: Why did Trump just order US to set up a crypto stockpile"},"content":{"rendered":"
\"Bitcoin<\/div>


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President Donald Trump has signed an executive order to establish a strategic reserve for Bitcoin, making the US one of the few countries in the world to create a national stockpile of blockchain assets.<\/p>\n

The reserve will hold cryptocurrency forfeited to the federal government as part of criminal or civil proceedings, White House AI and crypto tsar David Sacks said in a post on X<\/a>.<\/p>\n

The US will not sell any Bitcoin deposited in the reserve, said Sacks, and will instead keep it as an asset.<\/p>\n

Trump – who just four years ago said Bitcoin “seems like a scam” – now says he plans to make the US “the Crypto Capital of the World”.<\/p>\n<\/div>\n

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Further details are expected when the president is due to host the first crypto summit at the White House on Friday.<\/p>\n

It is unclear whether the planned reserve could face legal hurdles, or if it might require an act of Congress.<\/p>\n

Sacks said the stockpile would serve as “a digital Fort Knox for the cryptocurrency”, drawing comparison to a Kentucky military base that stores a significant portion of US gold assets.<\/p>\n

Trump’s order also creates a digital assets stockpile for cryptocurrencies other than Bitcoin that have been forfeited. <\/p>\n

It directs a full accounting of the federal government’s crypto reserves, which Sacks said are estimated at 200,000 Bitcoin alone. That’s worth $17.5bn (\u00a313.6bn) at today’s prices.<\/p>\n

It was unclear how the new stockpile would benefit Americans, but Sacks said it “will not cost taxpayers a dime”.<\/p>\n

His implication that the US government would not buy Bitcoin led prices of the world’s largest cryptocurrency to fall by more than 5%.<\/p>\n

Some countries maintain strategic reserves of national assets to diversify government holdings and hedge against financial risk.<\/p>\n

The US also keeps a petroleum reserve. Canada has a maple syrup reserve.<\/p>\n

Earlier this week, Trump revealed the names of five cryptocurrencies<\/a> that he said he would like included in the strategic reserve.<\/p>\n

The market prices of the five coins he named – Bitcoin, Ethereum, XRP, Solana and Cardano – swiftly jumped after that announcement.<\/p>\n

Trump aggressively courted the crypto community during his presidential campaign. Former US President Joe Biden led a crackdown on crypto, citing concerns about fraud.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

President Donald Trump has signed an executive order to establish a strategic reserve for Bitcoin, making the US one of the few countries in the world to create a national stockpile of blockchain assets. The reserve will hold cryptocurrency forfeited to the federal government as part of criminal or civil proceedings, White House AI and […]<\/p>\n","protected":false},"author":2,"featured_media":253647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/93ef\/live\/7cfb12f0-faf7-11ef-a207-dd9c88c8a60a.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[1159,4251,5689,16218,320,4121,52],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/253646"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=253646"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/253646\/revisions"}],"predecessor-version":[{"id":253648,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/253646\/revisions\/253648"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/253647"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=253646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=253646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=253646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}