Trump's 'Strategic Bitcoin Reserve' Plan Comes With a Twist

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Wired 2d ago

Trump's 'Strategic Bitcoin Reserve' Plan Comes With a Twist - Wired

Quick Summary:

Rather than buy bitcoin directly, Donald Trump's plan calls for holding the US government's current bitcoin assets in reserve—and creates a separate stockpile for other crypto coins.

This means it will not cost taxpayers a dime,” wrote David Sacks, who as the newly appointed AI and crypto czar is responsible for developing new crypto policy, in an X post.“This Executive Order underscores President Trump’s commitment to making the U.S.the ‘crypto capital of the world.

Meanwhile, Democrat lawmakers have registered concern about potential conflicts of interest related to previous investments by Sacks and other members of the Trump administration in coins set to be included in the US stockpiles.“Lawmakers deserve strong leaders who will prioritize the public interest ahead of their own bottom lines,” wrote Elizabeth Warren, senator for Massachusetts, in a letter addressed to Sacks on March 6.