Donald Trump establishes US Bitcoin reserve: What is it, how will it work?
The reserve will be capitalised with bitcoin owned by the Department of Treasury that was forfeited as part of criminal or civil asset forfeiture proceedings.
United States President Donald Trump has signed an executive order, which establishes a Strategic Bitcoin Reserve and a stockpile of other digital assets – a measure he had promised to fulfil during his Presidential bid last year.
“Bitcoin is the original cryptocurrency,” the executive order said. “Because there is a fixed supply of BTC, there is a strategic advantage to being among the first nations to create a strategic bitcoin reserve.”
The reserve will be capitalised with bitcoin owned by the Department of Treasury that was forfeited as part of criminal or civil asset forfeiture proceedings. Other agencies will evaluate their legal authority to transfer any bitcoin owned by those agencies to the Strategic Bitcoin Reserve, the order said.
