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Replying to Avatar Jake Woodhouse

The executive order establishes two major initiatives: a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. The Strategic Bitcoin Reserve will hold approximately 198,109 BTC seized through forfeiture, undergo a formal audit, and remain unsold. Meanwhile, the U.S. Digital Asset Stockpile will store all other non-Bitcoin assets obtained through forfeiture.

Additionally, the Secretaries of Treasury and Commerce will craft budget-neutral strategies to acquire more Bitcoin for the Strategic Bitcoin Reserve, but no such plans will be made for other digital assets. This marks a historic shift: the U.S. government is developing an acquisition strategy specifically for Bitcoin, not crypto.

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Nelson Inno 10mo ago

Didn’t they use 100K BTC to pay back victims of a Bitfinex hack long ago?

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Jake Woodhouse 10mo ago

I’d need to double check on that specifically

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