President Donald Trump is reportedly considering an executive order to establish a U.S. Bitcoin reserve, using Bitcoin seized from criminal investigations, according to Bloomberg. The announcement could come during Friday’s White House Crypto Summit, where key industry leaders like Coinbase CEO Brian Armstrong and MicroStrategy’s Michael Saylor are expected to attend.
Potential Plans for U.S. Bitcoin Reserve
Sources suggest the U.S. government may stop selling confiscated Bitcoin and instead hold it as part of a strategic reserve. There is also speculation that the government could purchase additional Bitcoin to strengthen the country’s financial standing. However, the proposal is still under discussion, and plans may change.
Hints of Broader Crypto Reserve
On Sunday, President Trump hinted at creating a “crypto strategic reserve,” raising questions about whether other cryptocurrencies like Solana (SOL), XRP, and Cardano (ADA) would be included. However, the administration later clarified that the focus would primarily be on Bitcoin, with Commerce Secretary Howard Lutnick walking back the earlier comments.
History of Seized Bitcoin
The U.S. government’s involvement with Bitcoin dates back to 2013 when the FBI confiscated 11 BTC from an individual attempting to buy illegal drugs. Since then, law enforcement agencies have seized around 195,000 BTC in various criminal cases. Over the years, the government has sold Bitcoin 11 times, with the largest sales occurring between 2013 and 2015, when approximately 173,000 BTC were auctioned off, according to data from Arkham Intelligence.
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