Trump administration makes first pro-crypto move with order to evaluate ‘national digital asset stockpile’

On Thursday, President Donald Trump issued an executive order directing his administration to explore the creation of a "national digital asset stockpile," a move aimed at advancing the United States' role in cryptocurrency adoption.

However, the directive did not explicitly call for the establishment of a dedicated Bitcoin reserve — a step some in the crypto industry had been advocating for. Bitcoin’s value saw a brief rise following the announcement but quickly returned to earlier levels as the details failed to meet market expectations. 

Discussions about a government-backed digital reserve have gained traction in recent months, particularly after Trump and Health and Human Services Secretary nominee Robert F. Kennedy Jr. addressed the topic at a Bitcoin conference last summer.

Trump has previously emphasized the need for the US to lead in cryptocurrency technology, especially as competitors like China expand their influence in the sector.

Supporters of a Bitcoin reserve argue that it would mirror the function of gold reserves, establishing bitcoin as a strategic asset. Coinbase CEO Brian Armstrong reiterated this sentiment during the World Economic Forum in Davos, stating, “Any government who holds gold should also hold Bitcoin as a reserve.”

Senator Cynthia Lummis, a leading advocate for cryptocurrency regulation, released a statement on Thursday backing the concept of a strategic Bitcoin reserve. She argued it would enhance the US dollar’s resilience while maintaining the nation’s competitive edge in the global financial system.

The administration’s interest in digital assets highlights a growing recognition of cryptocurrency’s role in shaping economic policy. While the establishment of a Bitcoin reserve remains uncertain, the move signals potential shifts in regulatory and strategic approaches to blockchain technology.

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