President Donald Trump has signed an executive order to create a U.S. government reserve of approximately 200,000 Bitcoin, which had been previously seized during criminal and civil proceedings. This reserve is designed to serve as a substantial store of value akin to 'digital Fort Knox.' The order aims for a thorough audit of government holdings and empowers the Treasury and Commerce departments to explore budget-neutral Bitcoin acquisition strategies. Trump's shift from skepticism to endorsement of cryptocurrency highlights his campaign promises and efforts to support the crypto industry, symbolized by an upcoming White House "Crypto Summit."
Under Trump's new order, the U.S. government will retain the estimated 200,000 Bitcoin it's already seized in criminal and civil proceedings.
The Reserve is like a digital Fort Knox for the cryptocurrency often called 'digital gold,' Sacks said on social media.
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