The reserve will start with Bitcoin seized by law enforcement from financial crimes.
President Donald Trump signed an executive order on Thursday to establish a “digital asset stockpile,” a strategic reserve of cryptocurrency managed by the federal government.
The order directs the Treasury Department to begin the stockpile with bitcoin that federal law enforcement seized while disrupting financial crimes. The Treasury and Commerce departments are also directed to “develop budget-neutral strategies for acquiring additional bitcoin.”
The president’s crypto and artificial intelligence (AI) czar, David Sacks, emphasized the plan will “not cost taxpayers a dime.”
“The U.S. will not sell any bitcoin deposited into the Reserve. It will be kept as a store of value,” Sacks wrote. “The Reserve is like a digital Fort Knox for the cryptocurrency often called ‘digital gold.’”
As the Lord Leads, Pray with Us…
- For Crypto and AI Czar Sacks to seek God’s guidance as he oversees the implementation of the cryptocurrency reserve.
- For the president and members of his administration as they promote and encourage economic innovation.
Sources: The Hill, UPI News
