US President Donald Trump signed a decree to establish the Strategic Bitcoin Reserve and the US Digital Asset Stock. The crypto market was eagerly anticipating Trump’s decisions.

White House Artificial Intelligence and Crypto Czar David Sacks, in a social media post, confirmed that Trump fulfilled his promise to establish the Strategic Bitcoin Reserve and Digital Asset Stock. Sacks mentioned that the decree signed by President Trump for the establishment of the Strategic Bitcoin Reserve demonstrates his determination to make the US the ‘crypto capital of the world.’ He also emphasized that the reserve would be created using Bitcoin held by the federal government without imposing an additional cost on taxpayers. Sacks estimated that the US government holds approximately 200,000 Bitcoins, noting that a comprehensive audit had not been conducted yet, but it is anticipated with the decree. Additionally, he stated that the US would not sell the reserved Bitcoins to maximize their value as early sales had already resulted in over $17 billion in losses for US taxpayers. Sacks also highlighted that the Treasury and Commerce secretaries were granted the authority to develop independent strategies for acquiring more Bitcoin without creating an additional tax burden.

The decree also established a digital asset stock composed of assets other than Bitcoin, which will solely consist of assets obtained through seizure operations without additional acquisitions.

CRYPTO MARKET UPDATE

Crypto currencies, which plummeted sharply due to trade war fears, are recovering after a critical summit. Bitcoin is currently trading at $87,800. Ethereum, which dropped below $2,000, is now trading above $2,173. XRP is priced at $2.50, ADA at $0.86, and SOL at $141, all aligning with the reserve plan.