Trump Signs Executive Order to Establish U.S. Bitcoin Reserve
President Donald Trump has signed an executive order to establish a bitcoin reserve, designating it as a U.S. reserve asset. Key details include:
- The reserve will start with approximately 200,000 bitcoin currently held by the government.
- Future investments may occur without utilizing taxpayer funds.
- A separate stockpile will be created for other crypto assets, exclusively from government seizures.
- No active buying program is planned at this stage, which disappointed some industry observers.
- A summit attended by major crypto leaders like Coinbase and Ripple is scheduled to discuss industry policy.
- Executive orders are not permanent; additional legislative action is anticipated.
This initiative marks a significant shift in U.S. crypto policy, moving away from the negative perceptions following the industry's difficulties in 2022.