WASHINGTON, March 7 (Bernama-Xinhua) -- US President Donald Trump signed an executive order on Thursday to build a strategic bitcoin reserve, reported Xinhua.
The reserve will draw from cryptocurrency assets seized by the US government through civil or criminal forfeiture proceedings, said venture capitalist David Sacks, who has been appointed as the White House AI and crypto czar by Trump for his new administration.
"This means it will not cost taxpayers a dime," Sacks said in a post on social platform X.
The news comes one day before a planned meeting of US executives from the cryptocurrency industry at the White House Friday.
Earlier this week, Trump announced the names of five digital assets he expects to include in this reserve, pushing high the market value of each.
The five are bitcoin, ether, XRP, solana and cardano, he said.
His moves to support the crypto industry have sparked concerns of conflict of interest as the president himself holds a stake in a crypto platform.
--BERNAMA-XINHUA
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