Trump Signs Executive Order Establishing Strategic Bitcoin Reserve

Washington - President Donald Trump signed an executive order to establish a strategic reserve of cryptocurrencies, capitalized with bitcoin owned by the federal government through criminal or civil asset forfeiture. The U.S. government owns approximately 200,000 bitcoin, valued at around $17.7 billion. The order authorizes the Treasury and Commerce Secretaries to develop budget-neutral strategies for acquiring additional bitcoin. A separate "U.S. Digital Asset Stockpile" will consist of tokens other than bitcoin, acquired through forfeiture proceedings. Trump has suggested including ether, XRP, solana, and cardano in the stockpile. The White House hosted a crypto summit on Friday, with attendees including the Winklevoss twins and Coinbase CEO Brian Armstrong.