- Bitcoin drops 6% after Trump’s executive order on a strategic reserve.
- US government to fund Bitcoin stockpile using seized assets, not taxpayer money.
- Order mandates a full audit of federal digital asset holdings and acquisition strategies.
US President Donald Trump’s executive order to create a Bitcoin strategic reserve and a stockpile of other digital assets failed to impress crypto markets, with Bitcoin’s value dropping sharply following the announcement.
Bitcoin fell as much as 6% on Thursday after the order was unveiled, as it did not include plans for the government to actively purchase Bitcoin. The cryptocurrency hit a low of $84,900 before recovering slightly to trade at around $87,700 as of 05:00 GMT.
Announcing the order, Trump’s crypto advisor David Sacks stated that the “Strategic Bitcoin Reserve” and “Digital Asset Stockpile” would be funded with assets seized in criminal and civil cases. “This means it will not cost taxpayers a dime,” Sacks posted on X.
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The US government is estimated to hold approximately 200,000 Bitcoin, though no official audit has ever been conducted. The executive order mandates a full review of federal digital asset holdings and instructs the Secretaries of Treasury and Commerce to explore “budget-neutral strategies” for acquiring more Bitcoin without taxpayer funding.
Trump has frequently promoted the idea of a national cryptocurrency stockpile, framing it as a key step in his vision to make the US the “crypto capital of the planet.”
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