{"id":9412,"date":"2025-03-07T07:18:34","date_gmt":"2025-03-07T06:18:34","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=9412"},"modified":"2025-03-07T07:18:34","modified_gmt":"2025-03-07T06:18:34","slug":"trump-set-to-potentially-endorse-bitcoin-reserves-with-executive-order-at-upcoming-crypto-summit","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/03\/07\/trump-set-to-potentially-endorse-bitcoin-reserves-with-executive-order-at-upcoming-crypto-summit\/","title":{"rendered":"Trump Set to Potentially Endorse Bitcoin Reserves with Executive Order at Upcoming Crypto Summit"},"content":{"rendered":"

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Update (March 6, 11:40 pm UTC): This piece has been revised to include an X post from Charles Gasparino and details regarding US government cryptocurrency holdings.<\/p>\n

Update (March 7, 12:31 am UTC): US President Donald Trump has recently issued an executive order<\/a> that forms a \u201cStrategic Bitcoin Reserve\u201d on March 7.<\/p>\n

It is reported that US President Donald Trump is likely to issue an executive order for the creation of a Bitcoin reserve during the White House Crypto Summit occurring on March 7.<\/p>\n

This reserve is anticipated to acquire additional Bitcoin (BTC<\/a>), diverging from the current US strategy of retaining the BTC obtained through criminal forfeiture, as Bloomberg reported<\/a> on March 6, citing knowledgeable sources.<\/p>\n

Nevertheless, there exists a variety of options for several potential crypto-oriented executive actions currently under consideration. Trump might also declare that the US will cease disposing of crypto it has confiscated<\/a> and instead use it to establish a national cryptocurrency reserve.<\/p>\n

An additional proposed measure could potentially influence the taxation of cryptocurrencies, which may necessitate assessment and endorsement from Congress.<\/p>\n

Trump\u2019s conceivable actions remain under negotiation and might not materialize or could alter, as reported by Bloomberg.<\/p>\n

In January, Trump issued an executive order<\/a> establishing a task force led by White House AI and crypto advisor David Sacks to assess \u201cthe formation of a strategic national digital assets reserve.\u201d<\/p>\n

On March 2, Trump shared on his social media network Truth Social that the cryptocurrency reserve<\/a> would encompass XRP (XRP<\/a>), Solana (SOL<\/a>) and Cardano (ADA<\/a>). He subsequently stated that Ether (ETH<\/a>) and Bitcoin (BTC<\/a>) would be regarded as \u201cthe core\u201d of the reserve.<\/p>\n

In the meantime, Fox Business correspondent Charles Gasparino stated<\/a> in a March 6 X post that his informants indicated the White House was preparing to further clarify the specifics of the cryptocurrency reserve shortly.<\/p>\n

Related:<\/strong><\/em> Trump\u2019s World Liberty purchased $20M worth of cryptocurrency prior to March 7 summit<\/strong><\/em><\/a>\u00a0<\/p>\n

\u201cI suspect it will tackle the funding approach, that is, the possible impediment for acquiring digital tokens [with] taxpayer funds (which would necessitate congressional consent, something nearly unattainable),\u201d Gasparino expressed.<\/p>\n

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Source: <\/em>Charles Gasparino<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Gasparino also mentioned that another potential approach for financing crypto acquisitions could be the use of Trump\u2019s concept of a sovereign wealth fund, which he signed an executive order<\/a> to investigate creating last month.<\/p>\n

He remarked, as Bloomberg noted, that the White House could initially seek to finance the initiative with cryptocurrencies confiscated in criminal prosecutions.<\/p>\n

The US government currently possesses approximately $18.28 billion in seized cryptocurrencies, with 198,109 BTC worth $17.87 billion constituting the majority of its assets, as per<\/a> Arkham Intelligence.<\/p>\n

Magazine:<\/strong><\/em> Trump\u2019s cryptocurrency endeavors raise conflict of interest and insider trading concerns<\/strong><\/em><\/a><\/p>\n