The President of the United States, Donald Trump, signed a decree on Friday for the establishment of a Strategic Bitcoin Reserve.
David Sacks, the czar of the White House for artificial intelligence and cryptocurrencies, reported that the reserve will be funded with Bitcoin confiscated in criminal or civil asset seizure proceedings, thereby ensuring that its creation will not incur costs for taxpayers.
In addition, the decree includes a comprehensive accounting of the digital assets held by the Government, which are estimated to be around 200,000 bitcoins.
The decree also establishes the creation of the "U.S. Digital Asset Stockpile," which will be managed by the Department of the Treasury with the aim of responsibly managing government digital assets, it was noted.
The cryptocurrency industry has experienced a significant opening during the Trump administration, in contrast to the more restrictive stance of former President Joe Biden.
However, the decree fell short of crypto market expectations, which did not rise or surge; on the contrary, it dropped sharply following the publication of the order, which many consider a sign that the announcement has not fully convinced investors.
Bitcoin is currently trading at $89,000 and has declined by 5.72%.
The presidential decree highlights the importance of Bitcoin as "digital gold" due to its scarcity and security.
The measure has sparked debate among experts. Some critics argue that cryptocurrencies lack solid backing and question the need for a government reserve.
Hilary Allen, a law professor at American University, warned that the sale of these assets could lead to a decline in their price, which would demonstrate their fragility as a store of value.
Trump detailed that, in addition to Bitcoin and Ethereum, the reserve will include other tokens such as Solana, XRP, and Cardano.
David Sacks, for his part, denied any conflict of interest, stating that he sold all his cryptocurrencies before taking on his position in the Trump administration.
The decree was signed during the first White House cryptocurrency summit on Friday, with the participation of leaders from the sector.
Frequently Asked Questions about Trump's Strategic Bitcoin Reserve
What is the Strategic Bitcoin Reserve created by Trump?
The Strategic Bitcoin Reserve is an initiative by President Donald Trump for the U.S. government to accumulate and hold bitcoins as a strategic asset. This measure is part of a decree that also includes the establishment of the "U.S. Digital Asset Repository" to manage government digital assets.
How will the Bitcoin Strategic Reserve be financed?
The reserve will be financed with Bitcoin confiscated in criminal or civil asset seizure proceedings, according to David Sacks, the White House czar for artificial intelligence and cryptocurrencies. This ensures that its creation does not incur costs for American taxpayers.
Which cryptocurrencies will be included in the United States Strategic Cryptocurrency Reserve?
The reserve will include Bitcoin, Ethereum, XRP, Solana, and Cardano. These cryptocurrencies have been selected for their influence in the market and as part of the strategy to make the United States the "cryptographic capital of the world."
What is the Trump administration's stance on the cryptocurrency industry?
The Trump administration has shown significant openness toward the cryptocurrency industry, in contrast to the policies of his predecessor, Joe Biden, who was more restrictive. Trump has vowed to remove barriers and establish a favorable regulatory framework to promote innovation and investment in this sector.
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