A Strategic Bitcoin Reserve?
Recently, President Trump issued an Executive Order creating a Strategic Bitcoin Reserve and something called the United States Digital Asset Stockpile. What is all this?
The Strategic Bitcoin Reserve will consist of Bitcoin seized by the federal government:
The Secretary of the Treasury shall establish an office to administer and maintain control of custodial accounts collectively known as the “Strategic Bitcoin Reserve,” capitalized with all BTC held by the Department of the Treasury that was finally forfeited as part of criminal or civil asset forfeiture proceedings or in satisfaction of any civil money penalty imposed by any executive department or agency (agency)…
As for the United States Digital Asset Stockpile:
The Secretary of the Treasury shall establish an office to administer and maintain control of custodial accounts collectively known as the “United States Digital Asset Stockpile,” capitalized with all digital assets owned by the Department of the Treasury, other than BTC, that were finally forfeited as part of criminal or civil asset forfeiture proceedings…
Last December, I attended the Freedom and Progress Conference in Washington. One of the panels recommended that the incoming Trump Administration do exactly what they are doing.
What does this have to do with Georgia? Well, Senator Greg Dolezal has introduced a bill allowing the State Depository Board to purchase Bitcoin.
SB 178 would allow the State of Georgia, which is already allowed to purchase a long list of investment types, to purchase Bitcoin. As shown above, the federal government will not be purchasing Bitcoin or other types of crypto currency.
The bill did not move this year. It’s probably best to let the Feds go first and see how it goes. Nevertheless, this is one to watch next Session.
