New York CNN —
President Donald Trump established a Strategic Bitcoin Reserve through an executive order, according to an X post by David Sacks, the White House czar for AI and cryptocurrency.
Trump had posted on social media on Sunday that he would direct the government to stockpile bitcoin, ethereum and three other tokens, which prompted backlash from the crypto industry.
Sacks said the reserve would be “capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings.” He said this would ensure the reserve could
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