Cryptocurrencies communities finally have the presidential promises they had hoped for. On Thursday March 6 th US President, Donald Trump, signed an executive order to establish a strategic Bitcoin reserve and asset stockpile of other cryptocurrencies.
The reserve will be funded by tokens that have already been seized or already acquired by government, the selling of the Bitcoin within the reserve will not be permitted. Other coins likely to be included in the asset stockpile tokens such as: XRP, Ether, cardrno and solana.
While this is a positive indication to the government’s stance on digital tokens, the announcement did not have a positive impact on the Bitcoin price. The price of Bitcoin falling to $85,000 a coin, a 5% drop in price, before recovering to the $89,000 range. Other popular coins and tokens followed in the same fashion.
Sentiment by the crypto community on the commitment by the United States has been mixed since the inauguration of President Trump on January 20 th. Donald Trump released two meme coins in quick succession, $TRUMP and $MELANIA the weekend prior to the inauguration. No mention was made of a token-based reserve in his speech during the inauguration. Sections of the community saw this a rug pull on crypto tokens since which the Bitcoin price fell from its all-time high of $109,071.
An executive order was signed in January to “to promote United States leadership in digital assets” but this order marks the first true commitment to cryptocurrency as a token of value backed by government use and to make the US the “crypto capital of the world.”
March 7th the US Government will hold a crypto summit, in attendance will be industry leaders like Chris Dixon (Andreessen/Horowitz), the Winklevoss brothers, Michael Saylor of Strategy and Brian Armstrong, CEO of Coinbase. From the US Government, David Sacks, the AI and Crypto Tzar, and Bo Hines, executive director of the presidential council of advisors for digital assets.
References:
Full factsheet on the executive order: https://www.whitehouse.gov/fact-sheets/2025/03/fact-sheet-president-donald-j-trump-establishes-the-strategic-bitcoin-reserve-and-u-s-digital-asset-stockpile/
