Trump signs strategic BTC reserve order, not spending money to buy encryption reserves, BTC price drops to 84K

According to the tweet of encryption czar David Sacks, President Donald Trump has signed an executive order to establish a strategic BTC reserve. This reserve will be capitalized by the BTC owned by the federal government, meaning the US government will not spend money to buy additional Crypto Assets. BTC price drops to 84K, and the previously mentioned reserve Tokens ETH, SOL, XRP, and ADA all plummeted.

Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve.

The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it…

— David Sacks (@davidsacks47) March 7, 2025

Sold BTC at a loss of 17 billion USD in the early years, deposited into reserves and will never sell again!

Sacks stated that the U.S. government is estimated to own about 200,000 BTC; however, a full audit has never been conducted. An executive order directs a comprehensive accounting of the federal government's digital asset holdings to be conducted first.

Afterwards, the United States will not sell any of the BTC deposited in reserves. It will be used as a store of value. This reserve is like a digital version of the 'Fort Knox' of Crypto Assets.

Selling BTC prematurely has already cost American taxpayers over $17 billion in value. Now, the federal government will have a strategy to maximize the value of its holdings.

(Did the US government sell BTC at a loss of $17 billion in the early years? Trump's 'encryption czar' David Sacks points out the wrong decision!)

Will increase Bitcoin, but will not increase the cost of American taxpayers

The Secretary of the Treasury and the Secretary of Commerce are authorized to develop budget-neutral strategies to acquire more BTC, provided that these strategies do not increase costs for American taxpayers.

Establish a digital asset reserve in the United States to store confiscated other digital assets

In addition, the executive order also established a U.S. digital asset reserve, consisting of digital assets other than BTC confiscated in criminal or civil proceedings.

However, the government will not acquire any assets other than through confiscation procedures for the reserve pool.

The purpose of the reserve is to responsibly manage the government's digital assets under the administration of the Ministry of Finance.

Promises are kept, the United States moves towards becoming the encryption capital of the world

Sacks stated that President Trump promised to establish a strategic BTC reserve and digital asset reserve. These promises have been fulfilled, also indicating President Trump's commitment to making the United States the 'world capital of encryption'.

BTC price drops to 84K, ETH, SOL, XRP and ADA plummet across the board

The encryption community, which was originally looking forward to the Trump administration using tariffs or other funding sources to purchase BTC encryption reserves, began to sell off after hearing this bad news this morning.

BTC plummeted to $84,667 at one point, leading to a drop in other cryptocurrencies, especially ETH, SOL, XRP, and ADA, which were mentioned by name, with declines of 4%, 5.3%, 7.4%, and 8.9% within one hour.

This article Trump signed the Strategic BTC Reserve Order, not spending money to buy encryption reserves, BTC price drops to 84K first appeared in Chain News ABMedia.