President Donald Trump signed an executive order Thursday to establish a strategic bitcoin reserve, a move aimed at solidifying the federal government’s stake in digital assets.
The order was signed a day before a high-profile White House meeting with cryptocurrency industry executives.
The reserve will be initially funded using bitcoin obtained through criminal or civil asset forfeiture proceedings, according to David Sacks, the White House’s crypto policy chief. Sacks, a billionaire investor, announced the initiative via a post on the social media platform X.