David Sacks Moves Forward on Creating Bitcoin Strategic Reserve in the US
- Bitcoin strategic reserve to be evaluated by US government.
- Stablecoins can strengthen the dollar's hegemony digitally.
- US Congress creates committee to regulate crypto assets.
The U.S. government is looking into establishing a strategic Bitcoin reserve, according to David Sacks, the Trump administration’s “crypto czar.” In a press conference, Sacks emphasized that this initiative is among the initial priorities and that the idea is already being discussed internally.
At the time of publication, the price of Bitcoin was quoted at US$97.745,00 with a drop of 1.7% in the last 24 hours.
“One of the instructions the President gave us was to evaluate the idea of a Bitcoin Strategic Reserve,” Sacks said. The goal, he said, is to understand how the government could hold Bitcoin as a reserve asset, similar to gold and foreign currencies, and its impact on the U.S. economy.
US President Trump's Crypto Czar @DavidSacks says, “The first thing the President instructed us to do was explore a Strategic Bitcoin Reserve” pic.twitter.com/GlzmrfM0H1
— Documenting ₿itcoin 📄 (@DocumentingBTC) February 4, 2025
In addition, the government is also stepping up efforts to consolidate regulations for cryptocurrencies, with a special focus on stablecoins. These cryptocurrencies, pegged to fiat currencies such as the dollar, are being seen as an essential tool to strengthen the dollar’s position in the global financial market. “The power of stablecoins is that they can expand the dollar’s hegemony in the digital space, creating trillion-dollar demand for Treasury securities,” Sacks said.
During the press conference, the creation of a bicameral committee in Congress to define clear rules for digital assets was announced. According to Sacks, one of the main goals of this initiative is to ensure that the United States remains a hub of innovation in the sector. “We want to keep this innovation within the US and prevent it from migrating to other countries,” he said.
🔥 JUST IN: Crypto and AI Czar David Sacks says it's possible that the Sovereign Wealth Fund would include # Bitcoin and digital assets in its portfolio. pic.twitter.com/dChGcTpO6B
— Cointelegraph (@Cointelegraph) February 5, 2025
Senator Tim Scott reinforced that proposals for regulating the sector are being treated as a priority and should be voted on within the first 100 days of the Trump administration. Representative French Hill, in turn, highlighted the need for clear rules for stablecoins and a regulatory framework to define criteria for the decentralization of digital assets.
The idea of a strategic reserve of Bitcoin is still in the research phase, but it could represent a milestone in the institutional adoption of the cryptocurrency. “We are in the early stages, but this will be one of the first issues that we look at,” Sacks said.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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