U.S. President Donald Trump completed his promise by signing an executive order to establish a Strategic Bitcoin Reserve (SBR) in the country.
Summary
- Donald Trump signed an Executive order & passed the Strategic Bitcoin Reserve.
- The Texas Senate also officially passed the Strategic Bitcoin Reserve.
- Experts believe a new announcement will come soon from Trump regarding the Crypto sector.
Donald Trump, the 45th president of America, recently announced the Crypto Strategic Reserve (CSR) & confirmed that the country will directly consider holding & investing in Bitcoin, Ethereum, Cardano, Solana, and XRP Cryptocurrencies. This was only just part of the announcement, no official development.
Today, just an hour ago from the time of publication of this report, Donald Trump’s crypto Czar informed the Crypto community that the president officially signed an Executive order to establish a Strategic Bitcoin Reserve (SBR).
Under this new initiative, the US government will not use public funds or taxpayers’ money to purchase Bitcoin and also will not sell any Bitcoin obtained through criminal or civil forfeiture.
Also, a stockpile for forfeited digital assets other than Bitcoin, with no further acquisitions, will be created & this Stockpile will be managed by the Treasury Department.
To acquire more Bitcoins, Treasury and Commerce Secretaries are authorized to develop budget-neutral strategies, with no extra cost to taxpayers.
In response to this proBitcoin development, Cynthia Lummis, ProBitcoin US Senator from Wyoming, said that Donald Trump kept the promise that he made during the presidential campaign.
She also said that such initiatives are going to make America a crypto capital country in the world.
White House Crypto Summit
As we know, the US president has a plan for a Crypto summit on Friday, so official-level work for the US crypto sector is very important.
Fox Business News reporter Eleanor Terrett said that Trump might also announce some new things about the Crypto Strategic Reserve (CSR) to make the discussion around Cryptocurrencies more constructive at the White House Crypto Summit.
Eleanor predicted that more announcements may be related to ChokePoint 2.0, a secret attack by the US government agencies against crypto companies by restricting banking services for the crypto companies. And also there are chances related to taxes.
As per reports, nearly 20 top crypto executives & advocates will join the summit for constructive discussion around the Bitcoin & Crypto sector.
Texas Bitcoin Strategic Reserve Bill SB21
On 6 March 2025, the Texas Senate officially passed Bill SB21, allowing the Texas state government to hold Bitcoin as part of its financial reserves. With this Texas became the first US state which followed the Bitcoin Strategic Reserve (BSR).
Under SB21, Texas aims to diversify its financial holdings, hedge against inflation and push Bitcoin adoption at the state level to achieve the state’s goal of becoming a hub for blockchain innovation.
Read also: Hoskinson Defends Cardano $ADA’s Inclusion in U.S. Crypto Strategic Reserve Amid Criticism
Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.
