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International Business Times
International Business Times
Business

Trump Signs Executive Order Establishing 'Strategic Bitcoin Reserve'

Donald Trump Bitcoin Executive Order Chris Murphy David Sacks White House
The planetary parade of seven planets on Feb. 28, 2025 may not be in favor of Bitcoin, astrologers said. (Credit: André François McKenzie/Unsplash)

President Donald Trump signed an executive order Thursday establishing a "Strategic Bitcoin Reserve," forcefully endorsing a currency once shunned as a tool for money launderers.

The government stockpile, which backers liken to a "digital Fort Knox," will be composed of digital currency seized in US criminal proceedings, said David Sacks, the White House's crypto "czar," emphasizing in a social media post that Thursday's move made good on a Trump campaign promise.

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