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Trump Establishes Strategic Bitcoin Reserve: First WH Digital Assets Summit
March 07, 2025
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President Donald Trump has signed an executive order to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, positioning the United States as a leader in government digital asset strategy. The reserve will be capitalized with bitcoin already owned by the federal government, primarily seized through criminal or civil asset forfeiture proceedings.

This reserve will treat bitcoin as a strategic asset, similar to petroleum and gold, and will be managed by the Treasury Department. The U.S. government will retain the approximately 200,000 bitcoin it has seized, valued at around $17 billion 

This stockpile will manage digital assets other than bitcoin, including XRP, Solana (SOL), and Cardano (ADA), also sourced from forfeiture proceedings.

The executive order aims to centralize ownership, control, and management of these assets to ensure proper oversight, accurate tracking, and a cohesive approach to managing the government’s cryptocurrency holdings; and aims to resolve the current disjointed handling of seized cryptocurrencies.

The order allows for the Treasury and Commerce Departments to develop budget-neutral strategies for acquiring additional bitcoin, though no active buying is planned beyond assets obtained through forfeiture.

Trump is also pushing for industry-friendly legislation and has directed the Securities and Exchange Commission to drop some enforcement actions against major crypto companies 

This move is part of Trump's broader strategy to position the United States as the "crypto capital of the world" and to harness the potential of digital assets for national prosperity.

"A historic moment for Bitcoin and crypto. Other nations will take notice," Coinbase CEO Brian Armstrong said reacting to the executive order.

Bitwise Head of Research Ryan Rasmussen said "This will push other governments to hold Bitcoin and adopt similar strategies."

And Anchorage Digital CEO Nathan McCauley said "This positions the U.S. as a global leader in digital assets."

Trump hosted the first-ever White House Digital Assets Summit Friday. The summit featured prominent industry leaders and government officials, including David Sacks, the crypto czar.

The president, at the summit, emphasized the U.S. government's commitment to cryptocurrencies. "From this day on, America will follow the rule that every Bitcoiner knows very well, never sell your Bitcoin. That's a little phrase that they have," he joked. "I don't know if that's right or not. Who the hell knows, right? Who knows, but so far, it's been right, and well, let's keep it that way." 

The summit included top executives from major crypto companies such as Coinbase, Ripple, Kraken, Gemini, Chainlink, and Robinhood.

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Trump Threatens Tariffs, After EU Hit Google With $3.5B Antitrust Violations

The European Union has fined Google $3.46 billion for abusing its dominant position in the digital advertising market, accusing the company of creating inherent conflicts of interest by controlling both the buy and sell sides of online advertising. In response, US President Donald Trump has threatened to initiate a Section 301 trade investigation, which could lead to retaliatory tariffs, calling the fine "unfair" and "discriminatory" against American companies.

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Trump also referenced a previous $17 billion fine against Apple, suggesting it should be reversed He claimed the total fines against Google from the EU now amount to $16.5 billion, including the latest penalty.

The fine marks the fourth antitrust penalty for Google from the EU The investigation focused on Google's dominance in online display advertising, where personalized banners and text ads appear on websites. The EU has previously warned that past penalties and requirements have not effectively curbed anti-competitive practices.

Google has rejected the decision, calling it "wrong" and stating it would appeal, arguing that the fine is unjustified and that the required changes would harm European businesses.

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The timing of Trump's threat is notable, as it comes just a day after he hosted Google's CEO Sundar Pichai, co-founder Sergey Brin, Mark Zuckerberg and other tech leaders at a White House dinner to discuss artififical intelligence implications with First Lady Melania Trump. This confrontation adds tension to a recently agreed-upon US-EU trade deal aimed at reducing US tariffs on EU imports.

“The European Union must stop this practice against American Companies, IMMEDIATELY!” Trump wrote. The White House did not immediately respond to a request for comment.

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President Donald Trump signed an executive order on Friday, formally changing the name of the Department of Defense to the Department of War, a move he framed as a restoration of American military strength and a rejection of what he termed "woke" policies within the Pentagon.

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The Department of War was established by President George Washington in 1789 and served as the primary agency for the U.S. Army until 1947. In that year, President Harry Truman signed the National Security Act, which merged the Department of the Army (formerly the Department of War), the Department of the Navy, and the newly created Department of the Air Force into the National Military Establishment. This entity was renamed the Department of Defense in August 1949.

The recent rebranding is part of a broader effort by the Trump administration and Defense Secretary Hegseth to reverse policies deemed "woke" or politically correct, including reversing the renaming of military bases from Confederate names and renaming a Navy ship previously named after gay rights activist Harvey Milk.

The White House has already updated its social media and the Pentagon's website to reflect the new name, with the domain changing to "war.gov." The move has been met with enthusiasm from some on the right, but skepticism and scorn from others.

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