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US President Donald Trump announced an executive order on March 6 to establish a Strategic Bitcoin Reserve.
This order ensures that seized Bitcoin will be held in a national reserve and will not be sold. It would instead function as a store of value, akin to a “digital Fort Knox.”
The directive assigns Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick the responsibility of formulating budget-neutral strategies to expand the country’s Bitcoin reserves without burdening taxpayers.
The announcement sparked significant discussion and excitement within the crypto community. CryptoSlate has curated how key figures within the industry responded to the milestone below
Industry leaders react
Bitcoin bull and the chairman of Strategy (formerly MicroStrategy) Michael Saylor welcomed the move, describing the Bitcoin Strategic Reserve as a step toward US dominance in the digital economy.
He added:
“The US now has the world’s largest Strategic Bitcoin Reserve.”
Senator Cynthia Lummis praised the decision, calling it a fulfillment of Trump’s promises and a demonstration of his commitment to Bitcoin.
She stated:
“We are becoming the bitcoin and digital asset capital of the world. America is so Back.”
Coinbase CEO Brian Armstrong called the order a landmark decision for both Bitcoin and the broader crypto market. He predicted that G20 nations would take notice and eventually follow the US lead.
Armstrong said:
“Incredible execution from the Trump administration and a historic moment for Bitcoin and crypto! I expect many of the G20 to take notice, and eventually follow America’s leadership.”
Bitwise CIO Matt Hougan highlighted several key implications of the decision. He pointed out that it significantly lowers the risk of a future Bitcoin ban in the US and increases the likelihood that other nations will establish their own Bitcoin reserves.
Hougan also noted that this move could accelerate Bitcoin adoption globally, as countries may act quickly to build their holdings before further US acquisitions drive up demand.
He concluded:
“I’m not sure how the market will think about this short-term. I am sure that long-term this is extraordinarily bullish for bitcoin.”
Meanwhile, crypto analyst Kanazawa outlined potential ways for the U.S. to expand its Bitcoin reserves without additional taxpayer spending.
His suggestions included seizing assets through judicial means, reallocating gold reserves, redirecting other fiscal revenues, and leveraging unused computing power or energy resources for Bitcoin mining.
