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🚨DEEPER DIVE: So, @realDonaldTrump’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 Bessent and Lutnick have also been given authorization to explore means of acquiring more bitcoin through avenues that will not cost the taxpayer.
The EO also mandates a full audit of all the digital assets currently in the government’s possession.
The other is a digital asset stockpile containing assets other than bitcoin — presumably $XRP, $ADA, $ETH and $SOL (as announced by the President last weekend) and potentially others.
The key difference between the reserve and the stockpile is that the government will not actively look for ways to purchase more of the assets contained in the stockpile. It will only explore using government funds (if they can find budget neutral ways to do that) on buying $BTC.
Sacks says the purpose of the stockpile is “responsible stewardship of the government’s digital assets under the @USTreasury.”
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 Bessent) are also authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers. Separately, a digital asset stockpile will be created that includes other cryptocurrencies aside from bitcoin using seized assets already owned by the government.
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