Draft Executive Order on Bitcoin National Reserve of the United States (from lidigo)

The main points of this executive order are as follows:

1. Core Objectives:

- Designate Bitcoin as a strategic reserve asset for the United States

- Establish a Strategic Bitcoin Reserve (SBR) within the Exchange Stabilization Fund (ESF)

- Enhance the United States' global leadership in the digital asset space

2. Key Investment Scale and Timeline:

- Invest no less than $21 billion to purchase Bitcoin

- Initial acquisition plan must be completed within 365 days

- Mandate a minimum holding period of 25 years ("HODL" strategy)

3. Security and Management Measures:

- Establish strict custodial and security protocols

- Coordinate with agencies such as the National Security Agency to establish a "Digital Fort Knox"

- Implement multi-signature controls and geographically distributed storage

- Conduct regular proof of reserve audits

4. Sale Restrictions:

- Sales allowed only in extremely special circumstances

- Requires detailed written explanation from the Secretary of the Treasury and presidential approval

- If approved for sale, must use a phased transaction approach to minimize market impact

5. Transparency Requirements:

- Provide public proof of reserves quarterly

- Submit an annual report detailing Bitcoin holdings

- Regularly report on the impact on economic stability

6. Institutional Coordination:

- Coordinate with agencies such as the Federal Reserve and the Department of Defense

- Ensure compliance with national security, economic stability, and cybersecurity standards

This executive order essentially treats Bitcoin as a strategic asset similar to gold, aimed at enhancing the resilience of the U.S. financial system and its leadership in the digital asset space.