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Bitcoin on the list of US strategic reserves: the Bitcoin Policy Institute’s proposal for Trump

Newsroom by Newsroom
December 20, 2024
in Bitcoin
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A plan to include Bitcoin among the nation’s strategic assets, to be implemented on the first day of the new presidential term.

On December 17, the Bitcoin Policy Institute introduced a draft executive order for the Trump administration aimed at updating the US strategic reserve system by incorporating Bitcoin into the nation’s assets.

The proposal, designed for immediate implementation on Trump’s inauguration day, calls for the establishment of a Strategic Bitcoin Reserve (SBR) within the Treasury Department’s Exchange Stabilization Fund (ESF).

The document recognizes Bitcoin as a digital asset comparable to gold, characterized by decentralization and a fixed supply. According to the institute, these features could strengthen both the US dollar and national economic interests.

Zack Shapiro, policy lead at the Bitcoin Policy Institute, stated:

“This is meant to be a good thing for the United States and is not a giveaway to the Bitcoin or crypto industry. ”

The executive order mandates consolidating government-held Bitcoin within seven days of its signing, prohibits its sale, and requires implementing a Bitcoin acquisition program within 60 days. The acquisition program outlines the purchase of at least $21 billion worth of Bitcoin.

The SBR will be subject to stringent security standards, regular audits, and comprehensive reporting measures to ensure long-term transparency and reliability. The objective is to solidify American leadership in the digital asset sector, attract capital and talent, and diversify national reserves to bolster US economic competitiveness.

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