President Donald Trump signed an executive order to strategically reserve Bitcoin. David Sachs, the White House AI and cryptocurrency czar, announced that the federal government's confiscated Bitcoin would be used for asset reserves. The government will not sell the reserved Bitcoin but will store it as a value reserve. Trump stated that this move would help develop the cryptocurrency industry, which has been under attack during the Biden administration. He also mentioned that Bitcoin, Ethereum, Ripple, Solana, and Cardano would be part of the strategic reserve.
"The effect was only temporary and, in fact, not significant. Signing an order to not sell the currently owned assets falls far short of market expectations. It will be interesting to see if central or local government purchases will be made in the future. Even if the amount is not large, the symbolic meaning might be greater."