A quick look at the full text of Trump's "Strategic BTC Reserve and U.S. Digital Asset Reserve" executive order

Executive Order: Establishing the Strategic Bitcoin Reserve and the United States Digital Asset Stockpile By virtue of the authority vested in me as President by the Constitution and the laws of the United States, I hereby order:

Section 1. Background

Bitcoin is the oldest cryptocurrency. The Bitcoin protocol permanently limits the total supply of BTC to 21 million and has never been hacked. Bitcoin is often referred to as "digital gold" because of its scarcity and security. Because the supply of BTC is fixed, there is a strategic advantage to being one of the first countries to create a strategic Bitcoin reserve. The United States Government currently holds a significant amount of BTC but has not implemented policies to maximize BTC's strategic position as a unique store of value in the global financial system. Just as our Nation needs to thoughtfully manage the Nation's ownership and control of any other resource, our Nation must harness, not restrict, the power of digital assets to achieve our prosperity.

Section 2. Policy

It is the policy of the United States to establish a Strategic Bitcoin Reserve. It is also the policy of the United States to establish the United States Digital Asset Stockpile as a safe account for the orderly and strategic management of the United States' other digital asset holdings.

Section 3. Creation and Management of the Strategic Bitcoin Reserve and the United States Digital Asset Reserve

(a) The Secretary of the Treasury shall establish an office to manage and control a custodial account, collectively referred to as the “Strategic Bitcoin Reserve,” which shall be capitalized by all BTC held by the Treasury Department that are ultimately seized as part of a criminal or civil asset forfeiture proceeding or to satisfy any civil penalty imposed by any executive department or agency (the Agency) and that is not required to satisfy the requirements of 31 U.S.C. 9705 or to be released pursuant to subsection (d) of this section (Government BTC). Within 30 days of the date of this order, each agency shall review its authority to transfer any Government Bitcoin it holds to the Strategic Bitcoin Reserve and submit a report to the Secretary of the Treasury reflecting the results of its review. Government Bitcoin deposited in the Strategic Bitcoin Reserve shall not be sold and shall be retained as a United States reserve asset to be used to achieve Government objectives in accordance with applicable law.

(b) The Secretary of the Treasury shall establish an office to manage and control custodial accounts, collectively referred to as the “United States Digital Asset Stockpile,” capitalized with all digital assets (other than Bitcoin) owned by the Treasury that were ultimately forfeited as part of a criminal or civil asset forfeiture proceeding and that are not required to satisfy the requirements of 31 U.S.C. 9705 or to be released pursuant to subsection (reserve assets) of this section. Within 30 days of the date of this order, each agency shall review its authority to transfer any reserve assets it holds to the United States Digital Asset Stockpile and submit a report to the Secretary of the Treasury reflecting the results of its review. The Secretary of the Treasury shall determine strategies for responsible management of the United States Digital Asset Stockpile in accordance with applicable law.

(c) The Secretary of the Treasury and the Secretary of Commerce shall develop strategies for acquiring additional Government Bitcoin, provided that such strategies have no budgetary impact and do not impose incremental costs on United States taxpayers. However, the United States Government may not acquire additional Digital Asset Stockpile except in connection with a criminal or civil asset forfeiture proceeding or to satisfy any civil penalty imposed by any agency without further executive or legislative action.

(d) “Government Digital Assets” means all government BTC and all stockpile assets. The heads of agencies may not sell or otherwise dispose of any government digital assets unless the Secretary of the Treasury exercises his or her lawful authority under subsection (b) of this section and responsibly manages the United States digital asset reserve, or as required by law, pursuant to an order of a court of competent jurisdiction, or when the Attorney General or other relevant agency head determines that government digital assets (or the proceeds of their sale or disposition) can and should:

(i) be returned to identifiable and verifiable crime victims;

(ii) be used for law enforcement actions;

(iii) be shared equitably with state and local law enforcement partners; or

(iv) be released to satisfy the requirements of 31 USC 9705, 28 USC 524(c), 18 USC 981, or 21 USC 881.

(e) Within 60 days of the date of this order, the Secretary of the Treasury shall conduct an assessment of the legal and investment considerations for establishing and managing the Strategic Bitcoin Reserve and the United States Digital Asset Reserve, including the accounts that should be established for the Strategic Bitcoin Reserve and the United States Digital Asset Reserve and the need for legislation to implement any aspect of this order or to provide for the proper management and administration of such accounts.

Section 4. Accounting

Within 30 days of the date of this order, the head of each agency shall provide the Secretary of the Treasury and the Presidential Working Group on Digital Asset Markets with a complete accounting of all government digital assets held by the agency, including any information regarding custodial accounts currently holding such government digital assets that is necessary to facilitate the transfer of government digital assets to the Strategic Bitcoin Reserve or the United States Digital Asset Reserve. If the agency does not hold government digital assets, the agency shall confirm that fact to the Secretary of the Treasury and the Presidential Working Group on Digital Asset Markets within 30 days of the date of this order.

Section 5. General

(a) Nothing in this order shall be construed to impair or otherwise affect:

(i) the powers conferred by law on the executive departments or agencies or their heads; or

(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.

(b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.

(c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

The White House,

March 6, 2025

Fact Sheet: President Donald J. Trump Establishes Strategic Bitcoin Reserve and United States Digital Asset Reserve

Creating Strategic Bitcoin Reserve and United States Digital Asset Reserve:

Today, President Donald J. Trump signed an executive order establishing the Strategic Bitcoin Reserve and United States Digital Asset Reserve, positioning the United States as a leader in government digital asset strategy.

The order creates a Strategic Bitcoin Reserve that deems Bitcoin a reserve asset.

The Secretary of the Treasury and the Secretary of Commerce are authorized to develop budget-neutral strategies to acquire additional Bitcoin, provided that such strategies do not impose incremental costs on U.S. taxpayers.

The United States will not sell Bitcoin deposited into the Strategic Bitcoin Reserve, which will be maintained as a stored form of reserve assets.

The Strategic Bitcoin Reserve will be capitalized with Bitcoin seized by the Treasury in criminal or civil asset forfeiture proceedings. Other agencies will evaluate their lawful authority to transfer any Bitcoin they own to the Strategic Bitcoin Reserve.

It also establishes the U.S. Digital Asset Reserve, which will include digital assets owned by the Treasury other than Bitcoin seized in criminal or civil asset forfeiture proceedings.

The Secretary of the Treasury may determine responsible stewardship strategies, including potential sales of the U.S. digital asset inventory.

The government will not acquire assets for the U.S. Digital Asset Reserve other than those acquired through forfeiture proceedings.

Agencies must provide the Secretary of the Treasury and the President’s Working Group on Digital Asset Markets with a complete report of their digital asset holdings.

This order ensures a strategic approach to managing digital assets under U.S. control.

Addressing Crypto Management Gaps:

Bitcoin is the original cryptocurrency, known as “digital gold” due to its scarcity and security, and has never been hacked.

Premature sales of Bitcoin have cost U.S. taxpayers more than $17 billion.

The United States currently holds a large amount of Bitcoin but has not yet maximized its strategic position as a unique store of value for the global financial system.

Bitcoin has a fixed supply of 21 million, so there is a strategic advantage to being one of the first countries to create a strategic Bitcoin reserve.

This executive order begins to address the current disjointed treatment of cryptocurrency seized through forfeiture by various federal agencies.

Currently, there is no clear policy to manage these assets, resulting in a lack of accountability and options to concentrate, protect or maximize their value have not been fully explored.

Taking proactive steps to centralize ownership, control, and management of these assets within the federal government will ensure proper oversight, accurate tracking, and unified management of the government’s cryptocurrency holdings.

This move will harness the power of digital assets to promote national prosperity, rather than leaving them in limbo.

Fulfilling his promise to make the U.S. the Crypto Capital of the World:

President Trump is fulfilling his promise to position the U.S. as a global leader in cryptocurrency.

President Trump has pledged to make the U.S. the “Crypto Capital of the World,” emphasizing the need to embrace digital assets to drive economic growth and technological leadership.

In his first week in office, President Trump signed an executive order to promote U.S. leadership in digital assets such as cryptocurrencies.

President Trump has been an advocate of a forward-thinking approach to cryptocurrencies, stating, “I have a very positive and open mind about cryptocurrency companies and all things related to this emerging industry. Our country must be a leader in this space.”

President Trump has pledged to establish a strategic Bitcoin reserve and digital asset reserve.

President Trump’s appointment of a “crypto czar” and hosting of the first crypto summit at the White House are just one of the many ways this administration is demonstrating its strong commitment to this digital asset.