According to Bloomberg, US President Donald Trump may sign an executive order as early as March 7 to establish a national reserve for purchasing Bitcoin.
US President Donald Trump might sign an executive order on March 7 to create a Bitcoin reserve during the White House Crypto Summit, as reported by Bloomberg. This reserve could focus on acquiring more Bitcoin (BTC) rather than just holding the BTC seized from criminal activities.
The administration is reportedly considering multiple crypto-related actions, such as stopping the sale of seized cryptocurrencies and using them to build a national crypto stockpile. Another potential move could involve revising crypto tax policies, though this would need approval from Congress.
Bloomberg emphasized that these plans are still being discussed and may not proceed or could change. Earlier, in January, Trump signed an executive order to form a working group under White House AI and crypto czar David Sacks to explore the creation of a national digital assets reserve.
On March 2, Trump posted on Truth Social that the reserve would include XRP, Solana (SOL), and Cardano (ADA), later adding that Ethereum (ETH) and Bitcoin (BTC) would be central to the initiative.
Fox Business correspondent Charles Gasparino also mentioned on March 6 that the White House is preparing to clarify details about the crypto reserve. He suggested the announcement might address funding challenges, such as using taxpayer money, which would require congressional approval—a difficult task.
Related: Trump’s World Liberty reportedly purchased $20 million in crypto ahead of the March 7 summit.
Gasparino suggested another potential funding method for crypto purchases could involve Trump’s proposed sovereign wealth fund, which he recently authorized through an executive order to explore last month.
He also noted, as reported by Bloomberg, that the White House might initially finance the plan using cryptocurrencies seized from criminal cases.
According to Arkham Intelligence, the US government currently holds approximately 18.28billioninseizedcrypto,with198,109BTC,valuedat17.87 billion, constituting the majority of its holdings.
Magazine: Trump’s crypto initiatives have sparked concerns about potential conflicts of interest and insider trading.
