U.S. President Donald Trump has officially endorsed Bitcoin, signing an executive order to create a Strategic Bitcoin Reserve. This marks a historic shift from past skepticism toward cryptocurrencies.
The White House confirmed the reserve will consist of Bitcoin and other digital currencies seized in criminal cases. According to David Sacks, the administration’s crypto policy chief, this move aligns with Trump’s campaign promise to integrate Bitcoin into U.S. finance.
No Cost to Taxpayers
The White House assured Americans that the Bitcoin Reserve will be built without taxpayer funds. Instead, the government will use seized digital assets.
“The use of these assets means it will not cost taxpayers a dime,” said David Sacks. The Commerce and Treasury departments will also explore budget-neutral expansion strategies.
Bitcoin Price Drops
Despite Trump’s endorsement, Bitcoin fell 5% after the announcement. Investors had expected direct Bitcoin purchases by the U.S. government, but the plan only involves seized assets, causing disappointment.
Still, analysts believe the Bitcoin Reserve could reshape U.S. crypto policy and attract institutional adoption.
Trump’s Crypto Summit
The order comes a day before a White House summit with crypto industry leaders, many of whom backed Trump’s 2024 campaign.
Crypto supporters played a key role in Trump’s election, especially in Senate races, where Republican candidates benefited from crypto investor support.
Trump’s Crypto Ties Raise Questions
Trump has personally invested in crypto, launching his own “Trump” memecoin and partnering with World Liberty Financial. His wife, Melania Trump, has also introduced a digital currency project.
Some Americans argue that this raises ethical concerns. Senator Chris Murphy said,
“It’s as if Trump is posting his Venmo or Cash App handle and inviting corporations and foreign governments to just send him cash in secret.”
He described the Bitcoin Reserve as “a pure grift.”
A Bold Move or Risky Gamble?
The Bitcoin Reserve is a major shift in U.S. crypto policy. Supporters say it strengthens digital asset holdings, while critics warn of financial misconduct.
One thing is clear: Trump’s Bitcoin Reserve has put cryptocurrency at the center of U.S. finance, ensuring Bitcoin remains a global focus for years to come.