Official statements from the US Treasury or Federal Reserve

Trump Considers Signing Executive Order for Strategic Bitcoin Reserve on First Day

Dec 17, 2024, 07:29 PM

President-elect Donald Trump is reportedly considering signing an executive order on his first day in office to establish a Strategic Bitcoin Reserve for the United States. This proposal, drafted by the Bitcoin Policy Institute, aligns with the 'Dollar Stabilization Act' and aims to designate Bitcoin as a reserve asset. Jack Mallers, CEO of Strike, mentioned in an interview that Trump could use this executive order to purchase Bitcoin, potentially impacting the cryptocurrency's market dynamics. The Bitcoin Act of 2024, introduced by Senator Cynthia Lummis, further supports this initiative by suggesting the Treasury and Federal Reserve purchase 200,000 BTC annually over five years, totaling 1 million BTC to be held for at least 20 years.