“Just a few minutes ago, President Trump signed an executive order to create a strategic bitcoin reserve.”
He added that the reserve It will be obtained with Bitcoin owned by the federal government, which It was lost as part of the procedures for confiscating criminal or civil assets.
Sachs said that the US government possesses about 200,000 BTC, according to estimates and executive order “directs full accountability for the federal government’s digital assets.”
“The United States will not sell any bitcoin deposited in the reserve. It will be kept as a value store. Reserve is similar to a digital fortress for the cryptocurrency, often called” digital gold. “
Just a few minutes ago, President Trump signed an executive order to create the Bitcoin Strategic Reserve.
The reserve will be deported with Bitcoin owned by the federal government that has been confiscated as part of the procedures for confiscating criminal or civil assets. This means that …
David Sachs (@Davidsocks47) March 7, 2025
Don’t buy more encryption
SACKS also said that BTC early sales have already cost us taxpayers in the United States with more than $ 17 billion of lost value, “before adding,” Now the federal government will have a strategy to increase the value of its property. “
EO also creates an American digital asset stock consisting of encryption, unlike Bitcoin, which has been confiscated in criminal or civil procedures. However, the government “will not get additional assets for the stock” exceeding those obtained through confiscation procedures.
This means that he will not buy ethereum, XRP, Solana or Cardano, as Trump said earlier this week.
He mocked this concept by many executives and analysts in this field after Trump suggested it on March 2 because he mentioned a handful of altcoins that many prominent bitcoins described as “SHITCOINS”.
President Trump promised to create a strategic bitcoin reserves and digital asset stocks. These promises have been kept.
Crypting market tanks
The encryption market also seems to make fun of the idea that Uncle Sam will store digital assets, reaching more than 200 billion dollars, or 5 %, although analysts call it ascending. As a result, the total number of capitalization has returned to less than 3 trillion dollars.
Bitcoin threw $ 5,000 in an hour or so, as it decreased from about 90,000 dollars to $ 85,000 before returning it to about 87,000 dollars, while ETHEREUM decreased by 5 % similar to $ 2,150 after the announcement.
It is not surprising, XRP, Sol and Ada were hit hard, as it decreased by 8 %, 7 %, and 10 %, respectively.
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