EddieJayonCrypto
5 Feb 25
White House AI and crypto czar David Sacks has stated that the review of a potential Bitcoin reserve is a top priority for the Trump administration. The President's new working group on digital assets will consider whether the US government should hold Bitcoin as a strategic reserve asset. Trump pre...
White House AI and crypto czar David Sacks has revealed that the review of a potential Bitcoin reserve is a top priority for the Trump administration. The President's new working group on digital assets will assess whether the US government should hold Bitcoin as a strategic reserve asset. President Trump has previously announced that his administration would halt the sale of seized Bitcoin and instead consider strategic investment in the asset.
Furthermore, Republican Senator Bill Hagerty has proposed the GENIUS Act, which seeks to establish a clear framework for stablecoins and impose regulations on issuers, including the requirement to provide audited reports and meet capital reserve requirements.
During a press conference with Republican lawmakers, Sacks emphasized the administration's focus on evaluating the feasibility of a Bitcoin reserve, stating, "One of the things that the President instructed us to do was to evaluate the idea for a Bitcoin reserve. So that is one of the first things we’re going to look at as part of the internal working group of the administration."
Trump's intention to strategically hold seized Bitcoin as an investment was reiterated at the conference, with the recent executive order signed to explore the creation of a national strategic stockpile, potentially including Bitcoin and other undisclosed crypto assets.
Lawmakers also addressed efforts in Congress to establish a clear framework for digital assets, highlighting the GENIUS Act's aim to define stablecoins and impose regulations on issuers to ensure transparency and capital reserve compliance.