Update (March 7, 3:10 am UTC): This article has been updated to add information from a White House fact sheet.

Update (March 7, 12:55 am UTC): This article has been updated to add more information from David Sacks’ X post and information on US government crypto holdings.

US President Donald Trump has signed an executive order that creates a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile,” both of which will initially use cryptocurrency forfeited in government criminal cases.

“Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve,” White House AI and crypto czar David Sacks said in a March 7 X post.

”The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings,” he added.

Additionally, a March 6 fact sheet from the White House said the order also establishes a “U.S. Digital Asset Stockpile,” which Sacks said would be made up of cryptocurrencies other than Bitcoin.

JUST NOW!

President Trump signs an Executive Order establishing the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile 🇺🇸 pic.twitter.com/N9p2sQknVS

— Margo Martin (@MargoMartin47) March 7, 2025

Bloomberg had earlier reported that Trump was expected to sign an executive order establishing a Bitcoin reserve during the White House Crypto Summit on March 7, with one option that included seeding it with government-owned crypto.

Sacks said the Bitcoin reserve was “a digital Fort Knox for the cryptocurrency,” and the US wouldn’t sell any Bitcoin put in the reserve.

“It will be kept as a store of value,” he added.

The White House