White House crypto czar David Sacks has further elaborated on the US government’s decision to treat Bitcoin as a special reserve asset, calling it a “scarce” digital resource that could benefit the country over the long term.
In a March 7 interview with Bloomberg Technology, Sacks said, “We’ve decided that Bitcoin is scarce, it’s valuable, and that it’s strategic for the United States to hold on to this as a long-term reserve asset.”
Sacks was referring specifically to the roughly 200,000 Bitcoin (BTC) currently in the US government’s possession. However, he acknowledged that the exact number of BTC held by the government is unknown because there’s never been a comprehensive audit.
“We’re going to do a full government-wide audit to find out what digital assets we actually have so they can be safeguarded and moved into a strategy that maximizes their long-term value,” he said.
David Sacks said the US government will build 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 directed federal agencies to conduct a full audit of their cryptocurrency holdings.
Regarding the digital asset stockpile, “The difference there is that the secretary of the treasury [Scott Bessent] will exercise responsible stewardship over those assets, and he has the discretion to rebalance the portfolio or to sell items in that portfolio, but that’s not true for Bitcoin,” said Sacks.
With the Bitcoin reserve, the “goal is long-term preservation,” he said. “With the stockpile, the goal is […] portfolio management, in essence.”
Sacks said the digital asset portfolio strategy could include the sale or even staking of digital assets based on the treasury secretary’s discretion.
Sacks didn’t single out any particular altcoin and cautioned against reading too much into President Trump’s March 2 announcement declaring Ether (ETH), Solana (SOL), XRP (XRP) and Cardano (ADA) as being part of the stockpile.
“The president just mentioned the top five cryptocurrencies by…
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