Trump signs an EO to establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile using BTC and other digital assets forfeited in criminal or civil cases
Now, Trump wants to create a crypto “strategic reserve.” (1/2) @theangrydonkey : Earlier this week, Trump announced the names of five digital assets he expects to include in this reserve, spiking the market value of each. The five are bitcoin, ether, XRP, solana and cardano, the president said — www.reuters.com/technology/t... @zen4ever2us : Trump signed an executive order on Thursday to establish a strategic bitcoin reserve, a day before meeting with executives from the cryptocurrency industry at the White House. — The reserve includes bitcoin, ether, XRP, solana, and cardano. — www.reuters.com/technology/t... Mastodon: @dave@social.masto.land : Did anyone see an explanation of what the strategic crypto reserve is for? — https://www.axios.com/... Jeff Jarvis / @jeffjarvis@mastodon.social : Maddow got this right last night: It's like spending our money on building a Beanie Baby reserve...if Donald Trump, Elon Musk, et al, owned the Beanie Baby factory. Pure grift. — Trump Signs Order to Create a ‘Crypto Reserve’ https://www.nytimes.com/... X: David Sacks / @davidsacks47 : 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 or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime. It is estimated that the U.S. government owns about 200,000 bitcoin; however, there has never been a complete audit. The E.O. directs a full accounting of the federal government's digital asset holdings. Margo Martin / @margomartin47 : JUST NOW! President Trump signs an Executive Order establishing the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile 🇺🇸 [video] Matt Hougan / @matt_hougan : Impacts of the Strategic Bitcoin Reserve 1) Dramatically reduces the likelihood the US government will some day “ban” bitcoin; 2) Dramatically increases the likelihood that other nations will establish strategic bitcoin reserves; 3) Accelerates the speed at which other nations Conor / @jconorgrogan : By my estimation, the US Govt owns 198.109k BTC. This executive order removes ~$18B of sell-side pressure [image] @acyn : Bessent: President Trump is creating assets for the American people while most past presidents have created debt and a large part of this asset program can be in digital assets. [video] @kobeissiletter : BREAKING: Bitcoin falls sharply after President Trump signs Executive Order establishing a Strategic Bitcoin Reserve. Why? No explanation on how the reserve will be funded aside from Bitcoin already held by the US. It's simply a promise to not sell what they currently hold. [image] Senator Cynthia Lummis / @senlummis : Another promise made, another promise kept. We are becoming the bitcoin and digital asset capital of the world. America is so ₿ack. [image] @cryptokaleo : You'd think Trump just signed a bill banning Bitcoin the way everyone is panic selling. The most powerful government in the world just announced they're establishing Bitcoin as a STRATEGIC RESERVE. The largest holder of Bitcoin in the world just announced THEY AREN'T SELLING. Matt Hougan / @matt_hougan : I'm not sure how the market will think about this short-term. I am sure that long-term this is extraordinarily bullish for bitcoin. David Marcus / @davidmarcus : This is a balanced outcome and the right decision for now. Happy reason has prevailed. @cobie : @dcfgod Step 1 — launch blockchain Step 2 — sell 80% to the most crimey market makers on earth Step 3 — whistleblow on them Step 4 — supply reduced by 80%, US gov top holder, bullish @dcfgod : So the only way into the reserve is to have your token involved in / seized as part of crime ? Brad Gerstner / @altcap : Congrats! Great balance. Building a natl strategic reserve of forfeited digital assets and a commitment that the US Gov't will not be in the biz of crypto speculation. 💥🇺🇸 Jason Lau / @jasonklau : Strategic Bitcoin Reserve and Digital Asset Stockpile. Two separate things. Historic. Expect more countries to follow. I still have some mixed feelings but it's great to see follow through on positive commitments towards our industry. Congrats to those involved! H.E. Justin Sun / @justinsuntron : Crypto in the U.S. is just getting started, and #TRON is ready to support @POTUS and his administration in advancing the industry. Let's #MakeCryptoGreatAgain🇺🇸 Paul Kedrosky / @pkedrosky : Crypto boosters being front-run by the Federal government (the reserve thingie will be capitalized with Bitcoin previously obtained, not new purchases), who they thought they were front-running, is the entertainment I needed today. Katherine Kirkpatrick Bos / @kkirkbos : Anyone who is selling BTC rn clearly did not understand that this reserve mechanism was the only way forward. An exec order that involved gov't spend (budget) to buy crypto would have been outside of the President's authority. #strategicbitcoinreserve Matthew Zeitlin / @mattzeitlin : Changing the federal government policy from selling crypto seized in criminal proceeding to not selling it and keeping it in a reserve does “cost the taxpayer money” in conventional fiscal math even if you're not going out and explicitly buying it @muneeb : bitcoin strategic reserve separate from digital assets stockpile. strategies to acquire more bitcoin but not more alts. gov of the united states is officially saying bitcoin is in a different league. time to build on bitcoin 🟧 Joe Weisenthal / @thestalwart : @MattZeitlin Crypto people will be like “yeah but it's going to go up a lot”, which is a non sequiter that happens to be generally true. Byrne Hobart / @byrnehobart : You can now permanently (well, until January 20th, 2029) lock up the supply of the cryptocurrency of your choice. Just use it for crime, and be sure to get caught. John E Deaton / @johnedeaton1 : “Sacks says Bessent and Lutnick have also been given authorization to explore means of acquiring more bitcoin through avenues that will not cost the taxpayer.” As I said to @LizClaman and @CGasparino on @FoxBusiness this week, allow U.S. taxpayers to pay their federal taxes in @cryptopathic : it's so cool that this industry went from cryptoanarchy to just straight up corruption maximizalization. yes i love it when my government official is lobbying to funnel taxpayer liquidity into his own investments mmm more boot please sir John E Deaton / @johnedeaton1 : Makes you wonder about the XRP, ADA, SOL post and if anyone made a lot of money off it? 🤔 Byrne Hobart / @byrnehobart : More seriously, this is the best way a crypto reserve could have gone: just take existing crypto on USG's balance sheet and declare it a crypto reserve! Wrote about it a while back: https://www.thediff.co/... ($) [image] Robert J Salvador / @robertjsalvador : 2017: The USA might kill Bitcoin. 2021: The USA might kill Bitcoin. 2025: The USA has a strategic stockpile of Bitcoin. What a journey. Borovik / @3orovik : Trump: *signs executive order for bitcoin reserve* Bitcoin: [image] Cynthia Lummis / @cynthiamlummis : President Trump deserves all the credit. Now let's pass the BITCOIN Act and make it law. @cryptoub : The United States of America is holding ~200,000 Bitcoin. While the impatient short term traders are quick to make decisions while dumping their leveraged positions, this is a major win for the industry. Get a grip. @byzgeneral : So it's not as bullish as we would have hoped, but this probably is the most responsible and rational approach (keeping what's obtained through criminal forfeiture). @cryptoub : One level of uncertainty that we've had for the last few months has been removed. We have an answer on the Strategic Bitcoin Reserve and what it entails. That's a win. @runnerxbt : Since we already got the front-run announcement today I assume the white house summit is mostly nothingburger (will still be at PC ready to trade ofc) but now has a lot better chance to bounce since this is behind us and all the moonboys were washed out gib good NFPs pls @cryptopathic : budget neutral strategy, you say? i know a certain group with a knack for that Eric Wall / @ercwl : “The hardest thing about being a Bitcoiner is that you're in the trade with a lot of delusional people” - @nic__carter [image] @iamdcinvestor : POTUS: “we're not going to sell BTC anymore” markets: “quick, sell everything” @tradermercury : @cryptocevo it's definitely good that they won't be selling, but the market wanted more; they wanted a promise of adding to the stockpile not just keeping things the same from an adoption standpoint: amazing. from a price standpoint: disappointing. that's how I'm thinking ab it @cobie : @davidsacks47 Damn was really hoping for government sponsored Coin of the Day Chris Burniske / @cburniske : And so the nation states became $BTC sinks. Avi / @avifelman : The Secretaries 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. ^We have up to 4 more years of headlines to trade. Are you ready anon? Alex Krüger / @krugermacro : Based on the market reaction to the bitcoin strategic reserve news, the market was assigning a non-zero probability to Trump being actually retarded. Wonder why. @lsdinmycoffee : they thought Trump was gonna use taxpayers money to buy ADA? and that the Congress would approve it? [image] @iamnomad : What is the actual size of the stratetgic reserve @davidsacks47 proposed ? I'm hearing the 200k btc number thrown around again, but the coins recovered from the bitfinex hack still haven't been sent to bitfinex.... The number of actual coins available is probably half that .... @deitaone : BITCOIN FALLS 5.2% TO $84,838.57 Laurence / @functi0nzer0 : I think the funniest possible result of the new stockpile would be for the current US admin to spend three years painstakingly consolidating it into known locations And then President AOC just FSHs the whole thing into the void on day one of her presidency in 2029 Cinema @cryptocevo : We went from being bearish because SEC suing crypto companies to being bearish because USA is not going to buy more btc YET. People don't know how such a big deal it actually is. Government adoption provides validation and credibility to crypto. It's finally happening Mayne / @tradermayne : I find ppl selling off because of this news is silly. Like what were you expecting to happen? Anything meaningful, like net new buying or changing taxes wrt to crypto will take time and need congressional approval. Even though this isn't the news you want it's still good news. Udi / @udiwertheimer : I LIKE THE STRATEGIC RESERVE ANNOUNCEMENT i'm glad that the govt is not buying our bags for 2 reasons: 1. i was short bitcoin (sorry. i no longer am though) 2. more importantly: i don't want the government to buy bitcoin. i want tax cuts so that i can buy more bitcoin myself. Avi / @avifelman : Bitcoin is down 5% today, about 2.25% more than Nasdaq. It's supposed to be a safe haven asset. It's time to admit the experiment has failed. Adam Cochran / @adamscochran : So the US government will not buy assets. The EO will keep assets seized (if that is even deemed legal, which debatably might still need an act of Congress due to nuance of who determines what Treasury can legally hold) Sooo hope you guys think this is worth selling out @iamdcinvestor : way too much attention being paid to the strategic reserve and stockpile not enough attention being paid to enforcement easing no attention at all being paid to potential proactive regulation legitimizing crypto interesting @coldbloodshill : I think “not selling” the current BTC stash was always the main thought process of the US pipeline. This was a major discussion point in the past when there was discussion of Democrats nuking holdings before leaving power. Twitter logic twisted it into an event much grander. Eleanor Terrett / @eleanorterrett : 🚨JUST IN: White House Crypto Czar @davidsacks47 says @realDonaldTrump has just signed an Executive Order to establish a strategic $BTC reserve using assets already owned by the federal government. He says the Secretaries of Treasury and Commerce (@howardlutnick and Scott Cameron Winklevoss / @cameron : A Strategic Bitcoin Reserve has been established! Promises made, promises kept Nathan McCauley / @nathanmccauley : Establishing a strategic Bitcoin reserve is a HUGE moment for both crypto and American leadership on the global stage. Where the U.S. leads, others follow. @arrington : Historic. Jennifer Jacobs / @jenniferjjacobs : US now has a Strategic Bitcoin Reserve, per Trump's crypto czar, David Sacks. It will contain bitcoin forfeited as part of criminal or civil asset forfeiture proceedings, he says. @inversebrah : tiem to raid pipls bits Coin holdings and keeping it safe federally Ryan Rasmussen / @rasterlyrock : President Trump just signed an Executive Order to establish a U.S. Strategic Bitcoin Reserve. — Capitalized with 200,000 BTC the government already owns — The U.S. won't sell any BTC deposited in the reserve — Additional BTC purchases will be budget-neutral (not funded by taxes) Robbie Ferguson / @0xferg : There will be sell-offs as this does not involve active accumulation of coins with taxpayer funds. That is a good thing. This is still an enormous step forward for crypto and sovereign adoption; the world's leading nation now has a formal strategic reserve of digital currencies. Dart / @poordart : “The government will not acquire additional assets for the Stockpile beyond those obtained through forfeiture proceedings.” >we have Bitcoin at home Clifford Asness / @cliffordasness : That it's funded with confiscated proceeds does not mean it “doesn't cost a dime.” Money is fungible. It costs what you could sell it for. That's not Econ 101 it's like the pamphlet they send you to prepare for Econ 101. Considering this long tweet starts out economically illiterate, continue to read at your own risk. @cryptocevo : This is the most bullish possible outcome given the options they had. The market is over reacting but will realize how big this is for crypto Short term pain, long term gain. The future is bright Forums: r/neutralnews : Trump signs order to establish strategic bitcoin reserve r/Pennsylvania : We all need to call our representatives now, the government buying crypto currencies is theft from the tax payer to keep a pyramid scheme going r/wallstreetbets : Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile r/FinanzenAT : US Strategic Bitcoin Reserve r/NewsOfTheStupid : Trump signs order to establish strategic bitcoin reserve r/news : Trump Signs Order to Create a ‘Crypto Reserve,’ Adviser Says r/ProfessorFinance : Trump signs order to establish strategic bitcoin reserve r/atrioc : Trump signs order to establish strategic bitcoin reserve r/DeepFuckingValue : USA Bitcoin strategic reserve, confirmed? 😳 r/wallstreetbets : BREAKING: President Trump signs executive order officially creating a Bitc0in Strategic Reserve.