Executive Order on Bitcoin Reserve Sent to Donald Trump

An executive order on the creation of a Bitcoin reserve has been drafted and is expected to be signed by President Donald Trump in the first days of his presidency. According to sources, the order aims to make Bitcoin a US national reserve asset and could allow the Treasury Department to purchase and hold Bitcoin as part of its reserve portfolio.

The draft order states that the President could use his authority to designate Bitcoin as a reserve asset, similar to other assets such as gold or foreign currencies. Notably, the proposed legislation from Senator Cynthia Lummis also reaffirms the administration's commitment to purchasing a large amount of Bitcoin with the goal of accumulating 1 million BTC, which would be about 5% of the total global Bitcoin supply.

This order could not only be a game changer for the cryptocurrency market, but also compete with powers like China in the financial technology sector.