Official announcements or press releases from the U.S. Federal Reserve.

Trump Signs Order for Strategic Bitcoin Reserve, Bitcoin Peaks at $106,732

Jan 23, 2025, 02:50 PM

President Donald Trump has signed an executive order establishing a Strategic Bitcoin Reserve, referred to as a national digital asset reserve, marking a significant shift in U.S. monetary policy. The announcement, made on January 23, 2025, at 2:30 ET, follows weeks of speculation and rumors about the administration's interest in Bitcoin as a national reserve asset. Coinbase CEO Brian Armstrong had earlier hinted at Trump's enthusiasm for the initiative, calling it a move towards embracing a Bitcoin standard. Bitcoin prices surged past $106,000, peaking at $106,732, following the announcement, reaching their highest levels in months. The move aligns with Trump's pro-crypto stance, which he had advocated during his election campaign. Senator Cynthia Lummis, a prominent Bitcoin supporter, also highlighted the importance of digital assets for maintaining U.S. financial leadership. The executive order could pave the way for broader adoption of cryptocurrency in national reserves and financial systems.