The reserve will be replenished with bitcoins belonging to the federal government, which were confiscated as part of criminal or civil proceedings to confiscate assets. This means that it will not cost taxpayers a single penny.It is estimated that the US government owns about 200,000 bitcoins, but a full audit has never been conducted. The CEO maintains a complete record of the federal government's digital assets. The United States will not sell bitcoins deposited in the Reserve. They will be stored as a store of value. The reserve is similar to the digital fort Knox for the cryptocurrency, which is often referred to as
"digital gold".Premature sales of bitcoin have already cost American taxpayers more than $ 17 billion. The federal government will now have a strategy to maximize the value of its assets."
The Treasury and Trade ministers are authorized to develop budget-neutral strategies for acquiring additional bitcoins, provided that these strategies do not incur additional costs for American taxpayers.
In addition, the Executive Order creates a reserve of digital assets in the United States, consisting of digital assets other than bitcoin, confiscated in criminal or civil proceedings.
The Government will not acquire any additional assets for the Reserve, other than those obtained during the confiscation procedure.
The purpose of creating the repository is to responsibly manage the government's digital assets within the Ministry of Finance.
PROMISES MADE, PROMISES FULFILLEDPresident Trump has promised to create a strategic reserve of bitcoins and digital assets. These promises were fulfilled.
This Executive Order underscores President Trump's commitment to making the US the
" crypto capital of the world." #CEO #Trump
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