OAN Staff James Meyers
11:16am – Friday, March 7th, 2025
President Donald Trump has signed an executive order to establish strategic preparations for cryptocurrency using tokens already owned by the US government.
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Bitcoin initially fell 5.7% after the announcement. Because major cryptography experts wanted a solid US plan to buy new tokens.
However, the major digital assets later recovered most of their losses, stabilizing around $89,410 as of 8:10am in New York on Friday.
Under the president's directive, crypto-protected areas will take place around Bitcoin sanctuaries worth an estimated $17 billion and be built from legal seizures.
“Strategic Bitcoin Reserve will be capitalized with federal-owned Bitcoin seized as part of criminal or civil assets forfeiture procedures,” said billionaire David Sachs' White House Crypto Zar in a post on social media platform X.
Meanwhile, critics argue that the move could artificially inflate the value of Bitcoin, supporting existing crypto investors. Furthermore, there are superficial claims relating to how Bitcoin's “volatility” becomes a dangerous asset to link to the country's foreign policy.
However, David Sacks and other supporters argue that protecting the Bitcoin Reserve will help the US expand and grow, as digital currencies play a major role in global finance. Other supporters see it as another way to overthrow the country's $36 trillion national debt.
Meanwhile, the Trump administration's code embrace comes as the president continues to be more involved in the industry. In 2024 he launched World Liberty Financial, a company that offers its own digital currency, WLFI.
Before beginning his second term at the White House, Trump launched his own meme coin. This is a cryptocurrency related to celebrity branding and the influence of social media.
Sack has once again doubled the movement, increasing the widespread adoption of digital assets, and confirmed that the US is ahead of the broader financial environment.
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