Trump’s creates ‘Strategic Bitcoin Reserve’ ahead of a White House crypto summit

Contents

The acting president of the SEC, Mark Uyeda, discusses the cessation of probes on cryptographic companies, the regulations, the presence of China on the American markets and the efforts for technological independence.

President Trump, late Thursday, signed an executive decree to establish a Bitcoin strategic reserve. Tsar Crypto David Sachs celebrated the move via a post on X.

“The reserve will be capitalized with bitcoin belonging to the federal government which was lost in the context of the confiscation of criminal or civil assets. This means that this will not cost taxpayers a penny,” he wrote. “It is estimated that the US government has around 200,000 bitcoin; however, there has never been a full audit. The act directs full accounting of the federal government’s digital assets. The United States will not sell any Bitcoin filed in the reserve.

Sachs, a veteran of Silicon Valley and Pro-Crypto who will shape the future policy around digital assets, reiterated his criticism of previous administrations for what he considered abandoning the ball on Bitcoin, the largest cryptocurrency by market value.

“Bitcoin’s premature sales have already cost American taxpayers more than $ 17 billion in lost value. Now the federal government will have a strategy to maximize the value of its assets,” he also noted.

Sachs also indicated how other digital currencies can be used.

“In addition, the Executive Decree establishes a storage of digital assets in the United States, made up of digital assets other than Bitcoin confiscated in criminal or civil procedures.”

This decision comes on the eve of a Friday round table with members of the presidential working group on digital assets in what is presented as a “summit of digital assets”.

The participants in the Friday meeting include the following crypto chiefs, while others can be added:

Tyler and Cameron Winklevoss, founders of Gemini
Vlad Tenev, CEO of Robinhood
Arjun Sethi, CEO of Kraken
Michael Saylor, founder and executive president of the strategy (formerly Microstrategy)
Brian Armstrong, CEO of Coinbase
Sergey Nazarov, co-founder of Chainlink
Kyle Samani, Director Partner at Multicoin Capital
Zach Witkoff, co-founder of World Liberty Financial supported by Trump
JP Richardson, CEO of exodus
Matt Huang, co-founder of Paradigm
David Bailey, CEO of Bitcoin magazine

Last Sunday, before the meeting, Trump has advanced his plans for a strategic reserve For cryptocurrencies, publish on Truth Social:

“A US Crypto Reserve Will raise this critical industry after years of attacks by the Biden administration, which is why my decree on digital assets ordered the presidential working group to move forward in a cryptographic strategic reserve which includes XRP, Sol and ADA. I will make sure that the United States is the cryptographic world capital. We make America great again!. “”

Here is a snapshot of real-time prices of popular cryptocurrencies.

Trump’s cryptographic tsar decreases the lack of “long -term strategy of the government of the government of the government”