TechFlow News — On March 7, White House AI and Cryptocurrency Director David Sacks announced, "Just minutes ago, President Trump signed an executive order establishing a Strategic Bitcoin Reserve. This reserve will be capitalized with bitcoin owned by the federal government through criminal or civil asset forfeiture proceedings. This means it will cost taxpayers not a single penny. It's estimated that the U.S. government holds approximately 200,000 bitcoins; however, a full audit has never been conducted. The executive order mandates a comprehensive accounting of the federal government’s digital asset holdings.
The United States will not sell any bitcoin deposited into the reserve. It will be retained as a store of value. For a cryptocurrency often referred to as 'digital gold,' this reserve functions as a digital Fort Knox. Premature sales of bitcoin have already cost American taxpayers over $17 billion. Now, the federal government will develop a strategy to maximize the value of its bitcoin holdings.
The Secretaries of the Treasury and Commerce are authorized to create budget-neutral strategies to acquire additional bitcoin, provided these strategies impose no incremental cost on U.S. taxpayers. Additionally, the executive order establishes a U.S. Digital Asset Reserve, which includes digital assets beyond bitcoin seized in criminal or civil proceedings. The government will not purchase any assets for the reserve outside of those obtained through forfeiture. The reserve will be responsible for managing government-held digital assets under the leadership of the Department of the Treasury.
Make promises, keep promises. President Trump promised to establish a Strategic Bitcoin Reserve and a Digital Asset Reserve. These promises have now been fulfilled. This executive order underscores President Trump’s commitment to making America the 'crypto capital of the world.' I want to thank the president for his leadership and vision in supporting this cutting-edge technology, and for his swift action in advancing the digital asset industry. His administration is truly moving at 'tech speed.'
I also want to thank the President’s Working Group on Digital Asset Markets—particularly Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick—for their assistance and support in completing this effort. Finally, Bo Hines played a critical role as Executive Director of our working group."
