Donald Trump, the President of the United States, issued an executive order on Friday to establish a strategic reserve of Bitcoin (BTC) by signing a new executive order. This reserve will consist of bitcoins that have been previously confiscated by US law enforcement agencies. David Sacks, the head of digital currency and artificial intelligence at the White House, stated on the former Twitter platform that this strategic reserve will also include other digital currencies seized in criminal and civil cases in addition to Bitcoin. He emphasized that in this plan, no part of citizens’ taxes will be spent on buying Bitcoin or other digital currencies. According to the report of the blockchain analysis company Arkham Intelligence, the US government currently owns 198,000 bitcoins worth approximately $17.3 billion. Converting these assets into a strategic reserve will mean removing approximately $17 billion worth of selling pressure from the market.
