The White House crypto, Tsar David Sacks, has further explained the American government’s decision to deal with Bitcoin as a special reserve asset, calling it a “rare” digital resource that could benefit the country in the long term.
In an interview on March 7 with Bloomberg Technology, Sacks said: “We decided that Bitcoin was rare, it is precious and that it is strategic for the United States to keep this as a long-term reserve ratio.”
SACKS made specifically about 200,000 bitcoin (BTC) currently in possession of the United States government. However, he recognized that the exact number of BTC held by the government is unknown because there has never been a complete audit.
“We are going to make a complete audit at the level of the government to find out what digital assets we really have so that they can be saved and transferred to a strategy that maximizes their long-term value,” he said.
David Sacks said the US government would create a stock of strategic digital stocks. Source: Bloomberg Technology
The executive decree of March 6 of President Donald Trump calling for a strategic bitcoin reserve and stocks of digital assets ordered the federal agencies to carry out a complete audit of their cryptocurrency participations.
Regarding the storage of digital assets, “the difference is that the Treasury Secretary [Scott Bessent] Will exercise responsible management on these assets, and he has the discretion to rebalance the portfolio or sell items in this portfolio, but this is not true for Bitcoin, “said Sacks.
With the Bitcoin reserve, “the objective is long-term preservation,” he said. “With the stock, the objective is […] Portfolio management, in substance. »»
Sacks said that the digital asset portfolio strategy may include the sale or even the implementation of digital assets according to the discretion of the secretary to the Treasury.
Sacks did not distinguish from Altcoin and warned against the reading of the announcement of President Trump, declaring Ether (ETH), Solana (Sol), XRP (XRP) and Cardano (ADA) as part of the stock.
“The president has just mentioned the first five cryptocurrencies by market capitalization, so I think people read a little too much,” said Sacks. In the end, a decision on the assets to be included will depend on the audit at the level of the government.
Source: David Sacks
In relation: David Sacks deplores the sale by the US Bitcoin government
The industry responds
Trump’s executive order and the commentary on the Sacks have failed to increase the prices of bitcoin and cryptography in the short term, but this could be about to change because the markets fully dissect the importance of the latest developments in American policy.
https://www.youtube.com/watch?v=av7xiOY4ZVC
Joe Kelly, CEO of Bitcoin Financial Services Company Unchained, told Cintelegraph: “The markets can always be caution until we see the scale and the strategy behind this accumulation, but the situation as a whole does not concern short -term price movements.” He added:
“What will really shape the role of Bitcoin in the global financial system is a clear and well -structured regulation which allows innovation to prosper. With the right framework, the long -term Impact of Bitcoin will extend far beyond the action of prices – reshaping the capital markets, financial sovereignty and the very concept of reservations. »»
Aurelie Barthere, main research analyst of Nansen, distinguished a sentence from the information sheet on the executive order as being “slightly bruised for the BTC” in the short term: “Treasury and trade secretaries are authorized to develop non -budgetary strategies to acquire additional bitcoin.”
“Does this mean an exchange of potential assets, for example from the Euro to the Japanese Yen in Bitcoin?” asked Barthere.
Beyond the media threshing of the decree, Barthere said that the action of bitcoin prices is influenced by macroeconomic conditions, including the economy and potential changes in the federal reserve policy.
“The recent Bitcoin Prize report was inevitable, as I planned at the beginning of the year, because the wider financial market had to digest the impacts of Trump’s pricing policy,” said CK Zheng, former global risk official for Credit Suisse and founder of ZX Squared Capital.
“I believe Bitcoin is currently in the process of making a short-term background and will rebound until 2025 while more pro-Crypto rules and regulations are taking place,” said Zheng.
Zheng thinks that the Bitcoin Strategic Reserve could serve as a catalyst for the future adoption of the nation state.
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