US Government Holds About 200,000 Bitcoins

 Trump signs executive order then establishes bitcoin strategic reserve

Washington

 US President Donald Trump has signed an executive order to create the Bitcoin Strategic Reserve and the US Digital Asset Fund.   This article was written by the US President's Special Envoy for Artificial Intelligence and Cryptocurrency, David Sachs, on the social network.

 According to Sachs, Trump followed through on his promise to create a bitcoin strategic reserve and a digital asset fund.   He stated, "This order demonstrates President Trump's commitment to make the United States the "Crypto Capital of the World." The Special Representative noted that the reserves in question would be made up of bitcoins held and confiscated by the federal government, and that there would be no additional cost to taxpayers.

 According to him, the US government has about 200,000 bitcoins.   In addition, Sachs emphasized that no comprehensive audit has been conducted so far and that the order also calls for a full accounting of the federal government's digital assets.

 "More than $17 billion has been lost to US taxpayers even before the initial Bitcoin sale.  The federal government will now have a strategy to maximize the value of its assets."

 The department head also noted that the ministers of finance and commerce have been empowered to develop a budget-independent strategy to acquire more bitcoins without creating an additional tax burden.

 Sachs said the order also created a digital asset fund made up of digital assets other than bitcoin.   A Trump administration official clarified that the government will only use the seized assets to fund it and will not purchase any additional assets.

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