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Trump Orders ‘Fort Knox’ Bitcoin Reserve and Digital Assets Stockpile
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2025-03-07 | 5m
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President Donald Trump has directed his administration to establish a Bitcoin Strategic Reserve to hold the assets that have been seized by the government, and he's additionally called for a crypto stockpile of other types of assets. At this point, all of the assets contemplated by the order would be those seized in civil or criminal forfeitures. The bitcoin will be stored for long-term value in what was termed a "digital Fort Knox."
"The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings," said David Sacks, Trump's crypto czar, in a statement
posted on social media site X. In a video showing the president signing the order, Trump says about establishing the reserve, "Made the promise, right?" The order has also nudged government officials to seek ways to add more bitcoin to the reserve, as long as it doesn't harm the federal budget.
Bitcoin fell nearly 5% to $85,000 in the minutes following the order, perhaps over disappointment the reserve consists of tokens already held by the government, but — for now — includes no new buys. Ethereum's (ETH), Ripple's (XRP), Cardano's (ADA), and Solana's (SOL) are all lower by 4%-8% within one hour afterwards as the order allows for no fresh government purchases of those tokens.
Source:
CoinDesk
Futures Market Updates
Disappointment due to no new BTC purchase by the US government caused funding rates to fall below 0.001%.
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