Trump signs executive order creating the US strategic bitcoin reserve

President Donald Trump signed an executive order that establishes a Strategic Bitcoin Reserve, in a move to advance U.S. digital asset policy.

"It is the policy of the United States to establish a Strategic Bitcoin Reserve," the White House said in release Thursday. "It is further the policy of the United States to establish a United States Digital Asset Stockpile that can serve as a secure account for orderly and strategic management of the United States' other digital asset holdings."

When Trump was on the campaign trail, he promised he would develop a council that would be friendly to Bitcoin. 

In January, he signed an executive order that promotes the advancement of cryptocurrencies across the U.S.

'Crypto Czar' David Sacks said that the Strategic Bitcoin Reserve will be capitalized with Bitcoin owned by the federal government and won't cost taxpayers anything. 

"The U.S. will not sell any bitcoin deposited into the Reserve," Sacks wrote on the social media platform, X. "It will be kept as a store of value. The Reserve is like a digital Fort Knox for the cryptocurrency often called 'digital gold.'"