U.S. President Donald Trump signed an executive order on Thursday to establish a strategic bitcoin reserve, a day before meeting with executives from the cryptocurrency industry at the White House. The reserve will be capitalized with bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings, the White House crypto czar, billionaire David Sacks, said in a post on social media platform X. Attendees at Friday's White House crypto summit expect the event to serve as a stage for Trump to formally announce his plans to build a strategic reserve containing bitcoin and four other cryptocurrencies. Earlier this week, Trump announced the names of five digital assets he expects to include in this reserve, spiking the market value of each. The five are bitcoin, ether, XRP, solana and cardano, the president said.
first published: Mar 7, 2025 06:23 pm
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