‘We decided Bitcoin is hard to get, it’s important’ for US Strategic Reserve – David Sacks
White House Crypto Czar David Sacks further explained the US government’s decision to treat Bitcoin as a special reserve owner, calling it “difficult” digital resources that could benefit the country for a long time.
In an interview on March 7 at Bloomberg technologySacks said, “We decided that Bitcoin was difficult, it was important, and strategically for the United States to handle it as a long-term property reserve.”
Sacks are specifically determined by approximately 200,000 bitcoin (Btc) currently in the US government. However, he acknowledged that the exact number of BTCs held by the government is unknown because it has not been a comprehensive audit.
“We will conduct an entire audit with the entire government to find out what digital properties we have so that they can be preserved and move to a approach that has raised their long-term value,” he said.
David Sacks said the US government will set up a strategic digital asset stockpile. Source: Bloomberg technology
President Donald Trump’s March 6 Executive Order Calling for a strategic Bitcoin reserve and digital asset stockpile has appointed federal agencies to conduct a full audit of their cryptocurrency handling.
Regarding the digital asset stockpile, “The difference there is that the Secretary of Treasury (Howard Lutnick) will conduct a responsible steward for those possessions, and he has a decision to re -balance the portfolio or sell items in that portfolio, but that’s not true for Bitcoin,” Sacks said.
With the Bitcoin Reserve, the “goal is long -term care,” he said. “In the stockpile, the goal is (…) Portfolio management, in essence.”
Sacks said the portfolio strategy of the digital asset could include sale or even staking digital assets based on the discretion of the Treasury Secretary.
Sacks do not unite with any particular altcoin and warned against reading so much President Trump’s announcement on March 2 Declaration of ether (Eth), Solana (Sol), XRP (XRP) and cardano (Ada) as part of the stockpile.
“The President just mentioned the top five cryptocurrencies through the market cap, so I think people are just reading a bit,” Sacks said. Ultimately, a decision on which properties to include depends on the entire government audit.
Source: David Sacks
Related: David Sacks is grieving the US government’s Bitcoin sale
The industry responded
Executive Order of the Executive and Commentary by Sacks failed to provide a short -term strengthening to Bitcoin and Crypto pricesBut that can change as markets completely separate the importance of the latest US policy developments.
https://www.youtube.com/watch?v=AV7xioy4zvc
Joe Kelly, CEO of Bitcoin Financial Services Company unchained, told Cointelegraph, “markets can still be careful until we see the size and approach behind this accumulation, but the bigger picture is not about short-term price movements.” He added:
“What will truly shape Bitcoin’s role in the global financial system is clear, well-structured regulations that enable the development of change. With the right framework, the long-term impact of Bitcoin will expand further with price-reshaping capital market, financial sovereignty and the concept of reserves.”
Aurelie Barthere, chief analyst of research in Nansen, sings a sentence from executive’s command Fact sheet As “Light Bullish for BTC” in the short period of time: “Treasury and Commerce secretaries are authorized to develop neutral budget techniques for getting more bitcoin.”
“Does this mean some potential replacing the owner, say from Euro to Japanese Yen to Bitcoin?” Barthere asked.
More than the hype of the Executive Order, Barthere said the price action of Bitcoin is the being influenced by macroeconomic conditionsIncludes the economy and potential changes in the policy of the Federal Reserve.
“The recent Bitcoin price pullback is inevitable, as I have been at the beginning of the year, as the wider financial market is required to dissolve the effects of Trump’s tariff policy,” said CK Zheng, a former global leader of risk for Credit Suisse and founder of the ZX Squared Capital.
“I believe Bitcoin is currently in the process of decreasing in the near term and will return by 2025 as there are more pro-crypto rules and regulations,” Zheng said.
Zheng believes that the strategic bitcoin reserve can serve as a catalyst for the adoption of the future country.
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