President Donald Trump signed a decree to establish the Strategic Bitcoin Reserve and the US Digital Asset Stock. The crypto market had been eagerly awaiting Trump’s decisions.

White House AI and Crypto Czar David Sacks, in a post on social media platform X, stated that Trump had fulfilled his promise to establish the Strategic Bitcoin Reserve and Digital Asset Stock. Sacks mentioned that President Trump signed the decree to create the Strategic Bitcoin Reserve, highlighting his determination to make the US the ‘crypto capital of the world.’ He clarified that the said reserve would be formed with Bitcoins held and seized by the federal government, with no additional cost to taxpayers.

Regarding the amount of Bitcoin in the US government’s possession, estimated at around 200,000 Bitcoins, Sacks emphasized that no comprehensive audit had been conducted so far, and the decree also foresaw the full calculation of the federal government’s digital assets. Sacks assured that the US would not sell the reserved Bitcoins, as selling them early had already resulted in over $17 billion in losses for US taxpayers. The federal government would now have a strategy to maximize the value of its assets.

Sacks also noted that the Treasury and Commerce Secretaries were granted the authority to develop independent strategies to acquire more Bitcoins without creating an additional tax burden. The decree also established a digital asset stock consisting of digital assets other than Bitcoin, using only assets obtained through seizure operations without additional purchases.

CRYPTO MARKET UPDATE

Cryptocurrencies, which sharply declined due to fears of trade wars, are recovering after a critical summit. Bitcoin is trading at $87,800 today. Ethereum, which tested below $2,000, is changing hands above $2,173 today. XRP mentioned in the reserve plan is at $2.50, ADA at $0.86, and SOL at $141.