Trump Signs Executive Order Creating a Strategic Bitcoin Reserve. What Does It Mean for Cryptocurrency?

On Thursday, President Donald Trump signed an executive order authorizing the creation of a strategic bitcoin reserve. The reserve will hold bitcoin obtained by the US government through criminal or civil asset forfeiture proceedings. According to billionaire David Sacks, the White House "crypto czar," the estimated 200,000 bitcoin the US government currently has will be moved to the reserve. In a message on social media platform X, Sacks likened the digital store to the gold reserves of Fort Knox. He also said that the 195,000 of bitcoin sold by the government previously amounted to "over $17 billion in lost value." It's worth noting that, as a self-proclaimed prolific crypto investor, Sacks -- along with his friends and family -- stands to potentially benefit more than most from this executive order. Sacks confirmed he's liquidated his crypto holdings prior to joining the Trump administration, but there are some concerns about other potential conflicts of interest. A community no ... Read full article.