US President Donald Trump has signed an executive order regarding the establishment of the Strategic Bitcoin Reserve and the US Digital Asset Stock. The crypto market awaited Trump’s decisions with curiosity.

White House Artificial Intelligence and Crypto Czar David Sacks, in a post on his X social media account, stated that Trump fulfilled his promise to establish the Strategic Bitcoin Reserve and Digital Asset Stock. Sacks reported that President Trump signed the executive order to create the Strategic Bitcoin Reserve, indicating his determination to make the US the “crypto capital of the world.” Sacks mentioned that the reserve would be formed with Bitcoin held by the federal government and seized by it, ensuring there would be no extra cost to taxpayers. Sacks estimated that the US government has approximately 200,000 Bitcoins but noted that a comprehensive audit had not been conducted to date, clarifying that the executive order aims to accurately account for the federal government’s digital assets. He emphasized that the US would not sell the Bitcoins in the reserve, as early sales had already resulted in over $17 billion in losses for US taxpayers. Sacks also stated that the Treasury and Commerce Secretaries were granted the authority to develop independent strategies for acquiring more Bitcoins without creating an additional tax burden. Additionally, he highlighted that a digital asset stock consisting of assets other than Bitcoin was established by the decree, with the government using only assets obtained through confiscation and not making additional purchases.

CRYPTO MARKET UPDATE

Following concerns over trade wars, crypto prices, which dropped sharply, are now recovering after a critical summit. Bitcoin is currently trading at $87,800. Ethereum, which tested below $2,000, is now exchanging hands above $2,173. XRP included in the reserve plan is priced at $2.50, ADA at $0.86, and SOL at $141.