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Crypto Czar David Sacks: We are Evaluating a US Bitcoin Reserve
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President Donald Trump’s crypto czar David Sacks says his team is “evaluating” the creation of a Bitcoin reserve. Speaking at a press conference on Capitol Hill, Sacks said “Bitcoin reserve will be one of the first things we are going to look at,” referencing his administration. “We’re still at the very early stages of this, but that’s one of the first things we’re going to look at, is the feasibility of it.”
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— Watcher.Guru (@WatcherGuru) February 4, 2025President Trump's Crypto Czar David Sacks says they are evaluating a Bitcoin Reserve. pic.twitter.com/rDvgIs7dly
Sacks added that this task was one of multiple designated to David Sacks and the working crypto group in his administration. The idea of a Bitcoin reserve in the US has been pitched and discussed plenty over the past year. However, since Trump’s US election win, Bitcoin and crypto have an even brighter spotlight. Trump’s executive order on crypto puts Sacks in the driver’s seat for the new working group of financial regulators who are meant to establish rules of the road for U.S. digital assets and their issuers.
Trump’s Crypto Team to Launch Bitcoin Reserve in 2025?
Donald Trump’s crypto team is still waiting to be finalized, with multiple members waiting to be sworn in. Upon its official formation, however, a Bitcoin reserve will be the top priority according to Trump’s crypto czar. According to Polymarket, the odds of a US Bitcoin reserve this year just shot up to 48% following the announcement.
In his opening statement at the press conference, David Sacks said that the crypto industry is set to enter a golden period. “I look forward to working with each of you in creating a golden age in digital assets,” he said, calling crypto a “week-one priority for the administration.”
Also Read: Ripple: XRP’s Price Post Trump’s Crypto Czar David Sacks’ PressCon Today
Furthermore, another priority for Sacks’ crypto team is the development of a Senate stablecoin. On Tuesday, details for the Senate stablecoin bill emerged. Senator Bill Hagerty, a Tennessee Republican, wrote a bill to set up U.S. oversight of stablecoin issuers, splitting regulation between state agencies and federal watchdogs — specifically the Federal Reserve and the Office of the Comptroller of the Currency. Tim Scott, the South Carolina Republican who now chairs the Senate Banking Committee, said the panel would take up stablecoins first.
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Crypto Czar David Sacks: We are Evaluating a US Bitcoin Reserve
Share:
President Donald Trump’s crypto czar David Sacks says his team is “evaluating” the creation of a Bitcoin reserve. Speaking at a press conference on Capitol Hill, Sacks said “Bitcoin reserve will be one of the first things we are going to look at,” referencing his administration. “We’re still at the very early stages of this, but that’s one of the first things we’re going to look at, is the feasibility of it.”
JUST IN:
— Watcher.Guru (@WatcherGuru) February 4, 2025
Sacks added that this task was one of multiple designated to David Sacks and the working crypto group in his administration. The idea of a Bitcoin reserve in the US has been pitched and discussed plenty over the past year. However, since Trump’s US election win, Bitcoin and crypto have an even brighter spotlight. Trump’s executive order on crypto puts Sacks in the driver’s seat for the new working group of financial regulators who are meant to establish rules of the road for U.S. digital assets and their issuers.
Trump’s Crypto Team to Launch Bitcoin Reserve in 2025?
Donald Trump’s crypto team is still waiting to be finalized, with multiple members waiting to be sworn in. Upon its official formation, however, a Bitcoin reserve will be the top priority according to Trump’s crypto czar. According to Polymarket, the odds of a US Bitcoin reserve this year just shot up to 48% following the announcement.
In his opening statement at the press conference, David Sacks said that the crypto industry is set to enter a golden period. “I look forward to working with each of you in creating a golden age in digital assets,” he said, calling crypto a “week-one priority for the administration.”
Also Read: Ripple: XRP’s Price Post Trump’s Crypto Czar David Sacks’ PressCon Today
Furthermore, another priority for Sacks’ crypto team is the development of a Senate stablecoin. On Tuesday, details for the Senate stablecoin bill emerged. Senator Bill Hagerty, a Tennessee Republican, wrote a bill to set up U.S. oversight of stablecoin issuers, splitting regulation between state agencies and federal watchdogs — specifically the Federal Reserve and the Office of the Comptroller of the Currency. Tim Scott, the South Carolina Republican who now chairs the Senate Banking Committee, said the panel would take up stablecoins first.
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UBS Plans Bitcoin and Ether Trading for Private Clients as Institutional Demand Accelerates: Report