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Trump Establishes U.S. Strategic Bitcoin Reserve in Push for Crypto Leadership

The president's executive order aims to position the U.S. as a global leader in cryptocurrency, raising concerns over ethics and economic impact.

Sparks strike representation of cryptocurrency Bitcoin in this illustration taken November 24, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
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U.S. President Donald Trump holds a signed executive order on cryptocurrencies, in the Oval Office of the White House, in Washington, U.S., January 23, 2025.
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Overview

  • President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile, using seized crypto assets already in government possession.
  • The reserve, described as a 'virtual Fort Knox,' is part of Trump's broader goal to make the U.S. the 'Bitcoin superpower' and legitimize cryptocurrency on a global scale.
  • The administration's close ties to the crypto industry, including significant donations from crypto executives to Trump's campaign and inaugural fund, have raised ethical concerns.
  • Trump's policies mark a significant shift from the previous administration, ending investigations into crypto firms and pledging regulatory clarity for digital assets.
  • Critics warn that the reserve could increase volatility in crypto markets and highlight potential conflicts of interest within the administration's leadership.