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US President Donald Trump signed an enforcement bid to found a Strategic Bitcoin Reserve "just a fewer minutes ago," says crypto tsar David Sacks.
US President Donald Trump has signed an enforcement bid to make a strategical Bitcoin reserve, which would beryllium initially funded with assets seized by the government, says the White House AI and crypto czar David Sacks.
“Just a fewer minutes ago, President Trump signed an Executive Order to found a Strategic Bitcoin Reserve,” Sacks said successful a March 7 X post.
”The Reserve volition beryllium capitalized with Bitcoin owned by the national authorities that was forfeited arsenic portion of transgression oregon civilian plus forfeiture proceedings. This means it volition not outgo taxpayers a dime,” helium added.
Additionally, the bid besides established a “U.S. Digital Asset Stockpile,” which Sacks said consisted of integer assets different than forfeited Bitcoin.
JUST NOW!
President Trump signs an Executive Order establishing the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile 🇺🇸 pic.twitter.com/N9p2sQknVS
Bloomberg had earlier reported that Trump was expected to motion an enforcement bid establishing a Bitcoin reserve during the crypto summit, with 1 enactment that included seeding it with government-seized crypto.
Sacks said the reserve was “a integer Fort Knox for the cryptocurrency,” and the US wouldn’t merchantability immoderate Bitcoin enactment successful the reserve.
This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.
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