The strategic Bitcoin reserve became a reality on Thursday, when President Donald Trump signed an executive order that the establishment of the digital assets supply has been applied.
White House AI and Crypto Tsar David Sacks announced The news on X, that claims that the initiative would not “cost taxpayers a dime.”
“The reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of the procedures for criminal or civil assets,” Sacks wrote.
The price of the world’s largest crypto has fallen by 5.1% to $ 85,868 in the last hour, and at least for short -term expectations that had built up in recent months.
The US will not sell the Bitcoin that does not sell it in the reserve, Sacks said, adding the reserve as a ‘digital fort Knox’, which he compared with ‘digital gold’.
A strategic bitcoin to book is a stock of BTC in the hands of an entity, such as a government or institution, for strategic or financial purposes.
Sacks added that the executive order also has a different Digital Asset Stockpile, consisting of other digital assets than Bitcoin forfeited in criminal or civil procedures.
“The government will not acquire extra assets for the stock that goes beyond that obtained through forfeiture procedures,” Sacks added.
In an attempt to take the favor of the Bitcoin -believers, Trump promised to make a Bitcoin stock that the US government had in July 2024.
“Promises, promises,” tweeted Sacks.
Bags also pointed to the estimated 200,000 BTC companies of the US, obtained by criminal attacks, which brought the initial estimated reserve value to $ 17.7 billion.
“Now the federal government will have a strategy to maximize the value of its participations,” wrote Sacks.
Published by Sebastian Sinclair
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