Trump may use the $200 billion foreign exchange stabilization fund from the U.S. Treasury to establish a Bitcoin reserve

2024-12-17 13:43:47

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ChainCatcher news, according to Cryptoslate, founder of the Satoshi Act Fund, Dennis Porter, stated that U.S. President-elect Trump plans to establish a Strategic Bitcoin Reserve (SBR) through an executive order, intending to use the Treasury's Exchange Stabilization Fund (ESF) to purchase Bitcoin. The ESF is typically used to address financial crises, with total assets exceeding $200 billion as of October 2024. If implemented, this plan would position the U.S. at the forefront of the global Bitcoin reserve race.

At the same time, several U.S. states have begun to push for Bitcoin reserve legislation, including Pennsylvania and Texas. Additionally, countries such as Brazil, Poland, and Japan are also discussing proposals to establish national Bitcoin reserves.

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