Trump signs order to build strategic bitcoin reserve

U.S. President Donald Trump signed an executive order on Thursday to build a strategic bitcoin reserve.

The reserve will draw from cryptocurrency assets seized by the U.S. government through civil or criminal forfeiture proceedings, said Venture Capitalist David Sacks, who has been appointed as the White House AI and crypto czar by Trump for his new administration.

The news came one day before a planned meeting of U.S. executives from the cryptocurrency industry at the White House Friday. Earlier this week, Trump announced the names of five digital assets he expects to include in this reserve, pushing high the market value of each.

The five are bitcoin, ether, XRP, solana and cardano, he said. His moves to support the crypto industry have sparked concerns of conflict of interest as the president himself holds a stake in a crypto platform.