Donald Trump, the president of the United States, signed an executive directive that established two items: a strategic bitcoin reserve and digital asset stockspile.
The bitcoin reserve is expected to be made up of BTC previously seized by the US government — roughly 198,000 BTC. David Sacks has said Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent are working together on the project. “budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers.”
This is a vague, but something, statement. We’ll hopefully get more details later on today, at the White House Digital Asset Summit. (Not to be confused, with the Blockworks Digital Asset Summit. If you purchased a ticket make sure it’s for NYC and not DC.
The stockpile, on the other hand, is pretty clear… kind of.
The basket will be comprised of the crypto that is held by the US Government (without bitcoin). We don’t know what will be in that basket. We do, however, have a tweet from Trump on Sunday that seemed to imply SOL, ADA, and XRP will play a role.
The US government is not buying any more digital assets to add to the existing stockpile. This should calm some people’s fears, such as Empire’s Jason Yanowitz, who spoke with Santiago Santos about the moves of the US government on the episode that aired today.
Santos’ and Yanowitz’s discussion was dominated by disclosures. The crypto community wants them more, as do they. Santos, who has a background in Wall Street, suggested that it would be extremely useful for crypto to create its own version of Edgar (which is SEC database to geek out on and check what companies are doing).
Here are some questions to ask before the summit: Which assets will make up this stockpile of crypto? Will it be all cryptos that the US Government has seized? It would also be nice to know how they intend to expand the reserve.
We’ll accept what we get.
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