US President Donald Trump has signed an executive order creating a national reserve of bitcoin and other cryptocurrencies. The reserve will be based on a stockpile of bitcoin seized by the government in court cases, worth about $17 billion. According to White House adviser David Sachs, the administration will not sell these assets, comparing them to a “digital Fort Knox.”
The executive order also requires federal agencies to develop “budget-neutral” strategies to purchase additional bitcoin at no cost to taxpayers. Since taking office, Trump’s administration has been aggressively supporting the crypto industry, halting investigations and lawsuits against several major crypto companies.
However, the initiative has been controversial. Supporters believe that such a reserve could help the United States reduce its $36 trillion national debt and consolidate its leadership in the crypto economy. Critics, on the other hand, point to the risks associated with the high volatility of cryptocurrencies and believe that it will primarily benefit crypto investors.
Trump also has personal interests in the crypto industry: last year he founded World Liberty Financial, which issued the cryptocurrency WLFI, and before his inauguration he launched his own memecoin.
In addition to Bitcoin, Trump proposed including Solana, Cardano, Ether, and XRP cryptocurrencies in the reserve, but later clarified that the government would not purchase these assets, but would only store confiscated coins.
The announcement has sparked a wave of positive feedback among crypto investors, who have called the day historic. On Friday, March 7, 2025, Trump plans to host the first-ever “crypto summit” at the White House with industry leaders.