Overview

• President Trump signed an executive order creating a Strategic Bitcoin Reserve, utilizing forfeited bitcoin held by the federal government.
• The reserve prohibits the sale of government-held bitcoin and aims to establish the U.S. as a global leader in cryptocurrency.
• Trump criticized the Biden administration for selling significant amounts of bitcoin, calling the decision 'foolish.'
• Treasury and Commerce Departments have been directed to explore cost-neutral strategies for increasing bitcoin holdings without taxpayer burden.
• Crypto industry leaders and lawmakers praised the administration's collaborative approach during the first White House Crypto Summit.