David Sacks, recently appointed as the Trump’s crypto and AI “czar,” confirmed the directive from the president to consider the feasibility of a US bitcoin reserve during a press conference.
He emphasized that the idea remains in “very early stages,” partly because several cabinet secretaries who are key to the initiative have not yet been confirmed. The group is expected to deliver its findings in about six months, providing a roadmap for how a bitcoin reserve might be integrated into the broader economic framework.
“We want to make sure that whatever we recommend is both secure and beneficial to the American economy,” he explained. “That means we need to fully understand the implications of holding bitcoin at a national level, including market stability, cybersecurity, and potential regulatory hurdles.”
Central to the administration’s broader strategy is the concept of a “digital asset stockpile,” which could incorporate various cryptocurrencies and other blockchain-based assets. While a bitcoin reserve might be one component, Sacks differentiated it from any sovereign wealth fund ideas also circulating within the administration.
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“I think the concept of the sovereign wealth fund is a little separate, and you’d have to talk to Secretary Lutnick, soon-to-be Secretary Lutnick, about that,” he explained.
President Donald Trump signed an executive action in his first week establishing a dedicated advisory group on digital assets. The directive calls on a range of federal agencies—Treasury, DOJ, SEC, and CFTC—to collaborate on proposing a comprehensive regulatory framework.
Lawmakers from both chambers of Congress joined Sacks at the announcement, including Senator Tim Scott, the newly appointed head of the Senate Banking Committee, and Senator John Boozman, who leads the Senate Agriculture Committee. On the House side, Representatives French Hill, chair of the House Financial Services Committee, and Glenn Thompson, head of the House Agriculture Committee, also joined the press conference.
Until recently, Trump had been an outspoken skeptic of digital assets. His pivot toward crypto acceptance gained momentum during the 2024 election cycle, as the influence of the crypto community grew. One of his first acts as president was to pardon Ross Ulbricht, a polarizing figure in the crypto world known for founding the Silk Road marketplace.
Information for this briefing was found via Bloomberg and the sources and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
One Response
Why? Adding to the gold reserves would be better.