Trump’s ‘Strategic Bitcoin Reserve’ Plan Comes With a Twist

US president Donald Trump has ordered his government to establish two national cryptocurrency reserves set to be worth many billions of dollars. In an executive order signed Thursday, Trump formalized the creation of a “strategic bitcoin reserve,” composed entirely of bitcoin, and a separate “national digital asset stockpile” featuring various other crypto coins. Both will be populated with coins seized by US government agencies in the course of law enforcement activities. At present, the US is estimated to hold around 200,000 bitcoin, worth roughly $17 billion at current prices, but the precise figure has never been confirmed. The executive order requires government agencies to conduct a full audit of their crypto holdings. The order confirms that the US will not use money raised through taxation to purchase additional crypto for the reserves. Though it leaves the door open for the Treasury and Department of Commerce to expand the bitcoin reserve by unspecified alternative means, pr ... Read full article.