President Donald Trump established a Strategic Bitcoin Reserve through an executive order, according to an X post by David Sacks, the White House czar for AI and cryptocurrency.

U.S. President Donald Trump signed an executive order on Thursday to establish a strategic bitcoin reserve, White House crypto czar David Sacks said in a post on X. The reserve will be capitalized with bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings,

The first-of-its-kind reserve would be anchored by a stash of Bitcoin the government already owns, estimated to be worth billions of dollars, the White House’s crypto czar said.