White House artificial intelligence and crypto czar David Sacks says a newly signed executive order could pave the way for the US to actively buy Bitcoin.
The “budget neutral” purchases would be above and beyond the seized trove of BTC that Trump has ordered the US to hold onto as a strategic reserve.
Sacks has confirmed initial reporting from Fox Business journalist Eleanor Terrett, who laid out the difference between the Bitcoin reserve and stockpile on the social media platform X.
“Trump’s Executive Order calls for two separate things — a strategic reserve and a stockpile. The strategic reserve will contain only BTC (the digital asset with the most store of value) using the 200,000 or so tokens already in the government’s possession that has been seized over the years through criminal and civil forfeiture.
Sacks says [Treasury Secretary] Bessent and [Commerce Secretary] Lutnick have also been given authorization to explore means of acquiring more bitcoin through avenues that will not cost the taxpayer.
Separately, a digital asset stockpile will be created that includes other cryptocurrencies aside from bitcoin using seized assets already owned by the government.”
The price of Bitcoin dropped as news of Trump’s new executive order spread a few hours ago.
After sinking from $90,251 to an intra-day low of $85,091, BTC is now $87,476 at time of publishing.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Featured Image: Shutterstock/Panuwatccn/PurpleRender
Read the full article here
Follow us on Google News to get the latest Updates
