Breaking: President Trump signs executive order to create Strategic Bitcoin

Crypto News

No, teh US management will no longer be acquiring Bitcoins to increase the reserve
The same applies to altcoins as Sacks asserts that the “reserve will not cost taxpayers a cent”
The directive does permit the treasury to plan for further Bitcoin acquisitions, but NOT altcoins

The president of the United States – Donald Trump has officially initiated a move towards establishing a strategic cryptocurrency reserve. This announcement was made by David Sacks – White House-appointed ‘crypto czar’ – on X earlier today. It stated that President Trump has signed an executive order aimed at creating a Strategic Bitcoin Reserve.

This was reported,

“Just moments ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve. The Reserve will be funded with Bitcoin owned by the federal government that was previously forfeited as part of criminal or civil asset forfeiture cases. This means it won’t cost taxpayers anything.”

Table of Contents

Crypto News The US is not adopting Bitcoin like El Salvador

this non-bullish action indicates that the US will cease efforts to accumulate Bitcoin (BTC) or any other cryptocurrencies. However, the reserve will include cryptocurrencies seized or forfeited in civil or criminal cases.

This decision stands in stark contrast to prevailing market sentiment, with many hoping for the US to emulateEl Salvador’s. The contry has been actively purchasing Bitcoins over recent years,with its strategic reserve now holding more than 6,102 BTCs.

The order does not grant permission for additional Bitcoin purchases by the US; however, it allows Treasury officials to develop “budget-conscious strategies for acquiring more bitcoin.” These strategies must ensure “no extra costs are incurred by American taxpayers.” The Crypto Czar remarked:

“Premature sales of bitcoin have already cost U.S. taxpayers over $17 billion in lost value. Now the federal government may have a way to optimize its holdings’ associated value.”

Cryto NewsBitcoin adn altcoins are distinct!

Sacks also introduced what he termed as U.S.Digital Asset Stockpile which may include altcoins. Previously announced by President Trump,the stockpile would feature cryptocurrencies such as XRP, Cardano (ADA), Ethereum (ETH), and Solana (SOL). This could also consist of cryptocurrencies “forfeited through criminal and civil lawsuits.”

Critically while this order permits Treasury officials some latitude in exploring options for generating BTCs, it does not extend this allowance towards any other digital currencies. President trump has dismissed any notions regarding purchasing altcoins stating:

“The government is not going to create additional resources for Stockpile beyond those acquired through forfeiture lawsuits. The purpose of Stockpile is responsible management of governmental digital assets under Treasury Department oversight.”