TEMPO.CO, Jakarta - United States President Donald Trump is reported to have signed an executive order to form a strategic Bitcoin reserve, which will be funded using seized Bitcoin obtained through criminal or civil asset forfeiture procedures.
This information was conveyed by AI and Crypto tycoon David Sacks through his social media X as quoted by Antara on Friday, March 7, 2025.
"Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve. The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal civil asset forfeiture proceedings," said Sacks.
"This means it will not cost taxpayers a dime," he added.
According to Sacks, the United States holds approximately 200,000 Bitcoins, although a comprehensive audit has yet to be conducted. In connection with this, the executive order is reported to require a full accounting of government digital assets.
"The U.S. will not sell any Bitcoin deposited into the Reserve. It will be kept as a store of value. The Secretary of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional Bitcoin, provided that those strategies have no incremental costs on American taxpayers," he said.
Sacks added that the U.S. Digital Asset Reserve, consisting of digital assets other than Bitcoin seized in criminal or civil processes, will also be formed.
Editor's Choice: Trump to Revoke Legal Status for 240,000 Ukrainians as U.S. Steps up Deportations
Click here to get the latest news updates from Tempo on Google News
Gaza on Trump's Threat Against Hamas: Israel Has Always Been the Problem
5 jam lalu
The government of Gaza says that the root of the problem is Israel's occupation of Palestinian territories, not Hamas.
China Challenges U.S. to 'Any Type of War' After Trump Issues Import Tariffs
5 jam lalu
China is ready to fight until the end in the war against the United States, if Washington seeks any confrontation with Beijing.
U.N. Slashes Support for Rohingya Refugees in Indonesia Due to U.S. Cuts, Sources Say
8 jam lalu
Many ethnic Rohingya escape squalid camps and persecution in Myanmar and neighboring Bangladesh each year to Indonesia.
Trump to Revoke Legal Status for 240,000 Ukrainians as U.S. Steps up Deportations
18 jam lalu
U.S. President Trump's administration is planning to revoke temporary legal status for some 240,000 Ukrainians who fled the conflict with Russia.
Anti-Trump Activists Target Elon Musk's Tesla Brand to Protest DOGE Cuts
20 jam lalu
"We need to make Tesla a toxic brand," said anti-Trump activist, who has called on her state's retirement system to divest its Tesla stock.
New Zealand Sacks Ambassador to UK After He Questions Trump's Grasp of History
1 hari lalu
New Zealand's foreign minister Winston Peters had sacked the country's ambassador to the UK after comments on Donald Trump.
OJK Reports 104% Surge in Crypto Transactions
1 hari lalu
The latest data from OJK recorded the value of crypto asset transactions reaching Rp 44.07 trillion in January 2025, increasing by 104.31 percent compared to January 2024
Who Is Al Green, the Texas Congressman Ejected During Trump's Speech?
1 hari lalu
Who is Al Green, a Democratic member of Congress who was removed during Trump's speech on Tuesday, March 4, 2025? Learn more about him here.
U.S. Rejects Alternative for Gaza Reconstruction Plan by Arab Leaders
1 hari lalu
The US is adamant that the Arab proposal for the reconstruction of Gaza cannot be implemented. What is the reason?
New Trump Travel Ban Could Bar Afghans, Pakistanis Soon, Sources Say
1 hari lalu
A new travel ban by President Donald Trump could bar people from Afghanistan and Pakistan from entering the U.S.
