Trump creates bitcoin reserve ahead of White House ‘crypto summit’
President Donald Trump on Thursday night authorized the creation of a strategic bitcoin reserve and a separate US stockpile of other digital assets, fulfilling a campaign promise he made to an industry that is gathering at the White House Friday for a “crypto summit.”
The bitcoin reserve will be seeded with bitcoin already owned by the federal government taken as part of criminal or civil asset forfeiture proceedings, Trump’s crypto czar David Sacks said in a post on the social media platform X.
“This means it will not cost taxpayers a dime,” Sacks said. Trump in the Oval Office asked Sacks if he believed in the reserve and then before signing the executive order said “we made the promise” — referring to the pledge of a…
