Trump Creates Strategic Bitcoin Reserve Funded By Forfeited Assets: ‘I Made The Promise’ — BTC Dips 4%
White House-appointed ‘AI and Crypto Czar’ David Sacks revealed that President Donald Trump signed an Executive Order to establish a Strategic Bitcoin (CRYPTO: BTC) Reserve on Thursday, a move that will not cost taxpayers.
What Happened: In an X post, Sacks stated that the reserve will be funded with Bitcoin owned by the federal government, obtained through criminal or civil asset forfeiture proceedings. “This means it will not cost taxpayers a dime,” he added. The U.S. government is estimated to own about 200,000 bitcoin, but a complete audit has never been conducted. The Executive Order directs a full accounting of the government’s digital asset holdings. The reserve is worth approximately $17 billion at prevailing price for the apex cryptocurrency.
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