David Sacks, the Crypto and AI Policy Advisor to the U.S. President, announced that Trump had signed an executive order to establish a “Strategic Bitcoin Reserve Fund” for the United States.
The fund will initially receive all the Bitcoin currently managed by U.S. authorities, derived from BTC seized during past criminal activities and legal proceedings.
Mr. Sacks stated that the U.S. government currently holds approximately 200,000 BTC, but it has never been audited. President Trump’s executive order will require relevant agencies to review and inventory all the cryptocurrency holdings.
Advisor Sacks also affirmed that the U.S. will not sell the Bitcoin in the reserve fund; instead, it will serve as a store of value to maximize the value of the holdings. He likened this reserve fund to “Fort Knox” for digital gold. According to Mr. Sacks, past BTC auctions have cost Washington $17 billion in potential losses if the holdings had been maintained until now.
Furthermore, the U.S. Department of the Treasury and the Department of Commerce have been directed to develop strategies to purchase additional Bitcoin, provided that these purchases do not come from taxpayer revenue. The responsibility for managing the digital asset reserve fund will be assigned to the U.S. Department of Treasury under the direction of Secretary Scott Bessent.
The White House has also established a “crypto stockpile,” which includes cryptocurrencies other than Bitcoin that have been seized from criminal activities rather than purchased from the market. As reported by Coin68, other cryptocurrencies that Trump has revealed could be in this stockpile include ETH, XRP, SOL, and ADA
https://x.com/i/status/1897802829474955415
Currently, there are two concepts being used by the Trump administration: “Bitcoin reserve” and “crypto stockpile.” The distinction between the two has been explained previously; the reserve fund will both hold and have the potential to add more Bitcoin in the future, while the stockpile will only contain currencies that are currently being seized as criminal evidence.
On-chain data compiled by Arkham indicates that the U.S. government is managing $18.4 billion in crypto, including over 198,000 BTC (worth $18 billion), with the remainder consisting of other altcoins such as ETH, WBTC, USDT, BNB, DAI, and more.
Mr. David Sacks stated that this is another example of Trump always keeping his promises, as he committed during his presidential campaign to revitalize the cryptocurrency industry in the U.S., making the country a global digital currency hub by establishing a legal framework, ending SEC lawsuits, and creating the Bitcoin reserve fund.
The executive order regarding the Strategic Bitcoin Reserve Fund was announced by Donald Trump just hours before the White House hosted the first-ever Crypto Summit in history, featuring leaders and CEOs from top cryptocurrency companies in the U.S. This event is highly anticipated, as President Trump is expected to deliver the opening speech and may announce additional policies affecting the future of the cryptocurrency sector in the U.S.