Economy Trump orders reserve of digital currencies
US President Donald Trump has ordered the creation of a US reserve for digital currencies. This is to store units of the best-known cryptocurrency, Bitcoin, which are already in the hands of the US government, for example through confiscation.
07.03.2025, 03:19
07.03.2025, 06:55
SDA
Trump has thus fulfilled a promise made during his presidential election campaign. According to the US digital currency commissioner David Sacks, the Department of Commerce and the Treasury will be allowed to procure additional Bitcoin for this reserve, but at no cost to taxpayers.
In addition, other digital currencies such as Ethereum and Solana are to be stored in a further stockpile. However, the US government will not actively look for ways to expand these holdings.
Bitcoin falls - Some disillusionment after details
The first details on the US reserve for digital currencies initially caused some disillusionment among investors on the crypto markets. Bitcoin fell back below the USD 90,000 mark on the Bitstamp trading platform and last traded at USD 88,102.
However, it has already recovered somewhat from the day's low, having slipped below the USD 85,000 mark during the night in an initial reaction to details on the US digital currency reserve.
Holdings of around 200,000 Bitcoin
Tens of thousands of Bitcoin units have ended up with the US government, partly as a result of actions against criminals. According to Sacks, the stock is estimated at around 200,000 Bitcoin. At a rate of around 88,000 dollars per Bitcoin, this would correspond to a value of more than 17 billion dollars.
During the election campaign, US President Trump had shown himself to be open to digital currencies and gained support in the industry. The administration of his predecessor Joe Biden took a restrictive stance towards digital currencies and warned against money laundering and the risk of destabilizing financial markets. After Trump's election victory, the price of Bitcoin, among other things, rose sharply.
Trade disputes depress sentiment
The Bitcoin price came under heavy pressure last week, slumping from more than 96,000 dollars to below 80,000 dollars at times. This was due to the international trade disputes instigated by the US, which weighed on sentiment on the financial markets and led to a reluctance to invest in risky asset classes.
In recent days, however, attention has turned back to the expected announcement of the US digital currency reserve. Investors had hoped that Trump would not only once again position himself as the patron of Bitcoin and Co, "but that the foundations would be laid for a symbiosis between the US government and the crypto industry", said market expert Timo Emden from Emden Research.
