Congressional records or official press releases from the U.S. Congress

Trump's Administration Prepares Executive Order from Bitcoin Policy Institute to Designate Bitcoin as Strategic Reserve Asset on First Day

Dec 17, 2024, 07:33 PM

President-elect Donald Trump is poised to make a significant move regarding Bitcoin on his first day in office. The Bitcoin Policy Institute has drafted an Executive Order that proposes designating Bitcoin as a Strategic Reserve Asset for the United States. This initiative, referred to as the Strategic Bitcoin Reserve, aims to leverage the existing Exchange Stabilization Fund framework. The draft has garnered attention, with various sources indicating that it is ready for Trump’s signature. If signed, this order could mark a pivotal moment in U.S. economic policy, potentially allowing for the purchase of Bitcoin as a reserve asset. The proposal has sparked discussions about the implications for the cryptocurrency market and the U.S. economy at large. Additionally, prediction markets currently estimate a 35% to 40% chance that Trump will implement this reserve within his first 100 days in office.