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Bitcoin Reserve Trump Strike CEO

Trump Plans Bitcoin Reserve Via Executive Order On Day 1, Says Strike CEO

Jake Simmons
by Jake Simmons
9 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a recent appearance on Timcast, Jack Mallers, the founder and CEO of Strike, revealed that President-elect Donald Trump is contemplating the establishment of a Strategic Bitcoin Reserve (SBR) through an executive order on the first day of his administration.

Strategic Bitcoin Reserve

During the interview, Mallers stated, “I also know that Trump is looking at a day one executive order.” This prompted host Tim Pool to seek clarification: “Sorry. You said a day one executive order for a Bitcoin reserve for the United States?”

Mallers elaborated, “Yeah, I know there’s people looking at the Dollar Stabilization Act as it gives the president wide discretion to protect the dollar and, um, there’s potential to use a day one executive order to purchase Bitcoin. It wouldn’t be at the size and scale of a million coins, but it would be a significant position and it’d be a message.”

Related Reading: Senator Lummis Holds Talks With Treasury Secretary Bessent On Bitcoin Reserve Strategy

While Mallers’ assertions have sparked huge buzz within the community, their veracity remains uncertain. However, recent statements from Trump and his administration members lend some credence to these claims. Last week, during his address at the New York Stock Exchange, Trump told CNBC, “We’re gonna do something great with crypto.” When asked about the possibility of the US establishing a SBR similar to its oil reserves, Trump responded, “Yes, I think so.”

Further supporting the notion of a SBR, Trump’s nominee for US Treasury Secretary, Scott Bessent, is expected to advocate for digital assets. US Senator Cynthia Lummis tweeted last week, “Scott Bessent will be a champion for digital assets and a crucial ally in passing my Strategic Bitcoin Reserve. I look forward to working closely with the future Treasury Secretary to restore fiscal responsibility!”

Related Reading: Pantera Capital Founder Projects Bitcoin Market Cap To Soar To $15 Trillion

Additionally, Dennis Porter, CEO and founder of the Satoshi Act Fund—a non-profit organization advocating for BTC and instrumental in initiating SBR bills in Pennsylvania and Texas—commented on X: “Glad to learn Jack Mallers is also hearing the Trump administration will use the Exchange Stabilization Fund (ESF) to create the Strategic Bitcoin Reserve. […] I can confirm that Trump is exploring an Executive Order creating a ‘Strategic Bitcoin Reserve.’ The Treasury, through the Exchange Stabilization Fund, has the authority to stabilize the dollar by buying currencies. Trump will use this fund to buy Bitcoin.”

The Exchange Stabilization Fund, managed by the US Department of the Treasury, traditionally serves to stabilize the dollar by purchasing foreign currencies and supporting US financial stability. Utilizing this fund to acquire Bitcoin would represent a novel application of its mandate, but is deemed possible by several experts.

At press time BTC traded at $104,440.

Bitcoin price
BTC price, 1-week chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
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Jake Simmons

Jake Simmons

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Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

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