President Trump signed an executive order on Thursday to establish a national stockpile of Bitcoin and other digital currencies, according to David Sacks, an adviser and the White House’s crypto and A.I. policy czar. The initiative, which has drawn criticism as potentially beneficial primarily to crypto investors, will be anchored by a collection of Bitcoin seized in legal cases over the years, valued at up to $17 billion. The order also directs federal agencies to devise strategies for acquiring more Bitcoin without incurring additional taxpayer costs. Sacks described the move as underscoring Trump’s aim to position the U.S. as the “crypto capital of the world,” likening the reserve to “a digital Fort Knox.” Since January, the administration has taken steps to support the crypto industry, including dropping lawsuits against major firms. Trump is also personally tied to the sector through his business, World Liberty Financial, which offers a cryptocurrency. — news from The New York Times
