ChainCatcher News, U.S. Congressman Byron Donalds plans to submit a legislative proposal to formally legislate the executive order signed by the Trump administration this month, which aims to establish a strategic Bitcoin reserve and a U.S. digital asset reserve. If the bill passes, it will ensure that the policy cannot be revoked by future presidential executive orders. Trump's executive order requires the Treasury Department to establish a Bitcoin reserve to hold approximately 200,000 Bitcoins and authorizes the Treasury and Commerce Departments to develop a "budget-neutral" strategy to purchase more Bitcoins while prohibiting the sale of Bitcoins from the reserve. Additionally, the executive order also establishes a digital asset reserve at the Treasury Department for storing existing and future digital assets obtained through criminal or civil asset forfeiture.

ChainCatcher News, House Oversight and Government Reform Committee Democratic leader Gerald Connolly urged the U.S. Treasury to halt plans to create a strategic cryptocurrency reserve, following President Donald Trump's pursuit of establishing a national Bitcoin reserve and personal cryptocurrency reserves.On Thursday, the Virginia Democrat pointed out in a letter to the Treasury that Trump's push for a reserve presents a "clear conflict of interest." Gerald Connolly stated that Trump did not consult Congress and did not "seek congressional authorization" to establish the reserve. The letter stated, "Establishing a strategic cryptocurrency reserve would come at the expense of American taxpayers, enriching the president and his closest allies. I urge you to stop all plans to establish a strategic cryptocurrency reserve and request a briefing for the staff of the Oversight and Government Reform Committee."

ChainCatcher news, the strategic Bitcoin reserve bill proposed by U.S. Senator Cynthia Lummis has now been published on the Congressional government website.

ChainCatcher news, according to Bitcoin Magazine, at the "Bitcoin For America" summit hosted by the Bitcoin Policy Institute (BPI) in Washington, D.C., Strategy Executive Chairman Michael Saylor stated that strategic Bitcoin reserves represent America's digital hegemony strategy in the 21st century, advocating for Bitcoin to be viewed as digital property. The U.S. should acquire as much Bitcoin as possible to facilitate "leasing and financing" based on it.Saylor predicts that in the future, tens of trillions of dollars in commercial activity will flow through the Bitcoin network, which is another reason why the U.S. should prioritize acquiring network share. Bitcoin embodies American values, and owning Bitcoin is the second-best choice for those who cannot relocate to the U.S.Saylor stated, "If possible, people from Asia and Africa would move to the U.S. They want American currency, security, and values, but they cannot obtain them. Therefore, their second-best option is to transfer their funds into the Bitcoin network, which possesses all the values, protections, and security of America."

ChainCatcher news, Bitcoin Magazine CEO David Bailey posted on X that the implementation of the strategic Bitcoin reserve executive order is much stricter than the market expected------the timeline is detailed down to days and weeks, rather than months or years, and managers are taking swift action.

ChainCatcher news, StarkWare, the protocol contributor and development company behind Starknet, announced that it has established a "strategic Bitcoin reserve," and will hold more funds in the form of BTC in the future. StarkWare was valued at $8 billion in its last funding round and is a core contributor to Ethereum's Layer 2 Starknet. Over the past few years, the company has invested more time and resources into Bitcoin research. Currently, StarkWare has not disclosed specific details about how much Bitcoin it holds or plans to acquire.

ChainCatcher news, U.S. crypto-friendly Senator and Chair of the U.S. Senate Banking Committee's Digital Assets Subcommittee Cynthia Lummis posted a strategic Bitcoin reserve video on the X platform with the caption: This time I'm serious.The video content shows: Big Things are Coming.

ChainCatcher news, according to CNBC, Bitcoin fell on Monday after President Trump signed an executive order to create a U.S. strategic Bitcoin reserve, impacting market sentiment.The reserve will be funded by Bitcoin seized in criminal and civil forfeiture cases, and currently, the U.S. government has no plans to purchase more Bitcoin. Following the announcement of the strategic reserve last week, cryptocurrency prices dropped, with investors disappointed by the lack of more aggressive measures in the plan.

ChainCatcher news, Zhu Su posted on platform X stating that the establishment of the strategic Bitcoin reserve bill releases an important signal, as the biggest risk Bitcoin has faced over the years is being viewed as a challenger to the dollar or as a protocol that facilitates "illegal" fund transfers.The strategic Bitcoin reserve positions Bitcoin as a digital bearer asset on par with gold, which will be recognized in the West and around the world. The U.S. government does not need to accumulate millions of Bitcoins; it only needs to make Bitcoin a single coordination point for digital value storage.

According to ChainCatcher news, the full text of the White House executive order states that the Secretary of the Treasury shall establish an office to manage and control a custodial account collectively referred to as the "Strategic Bitcoin Reserve," which will hold all BTC owned by the Treasury. These BTC will ultimately be seized as part of criminal or civil asset forfeiture proceedings, or confiscated to satisfy any civil penalties imposed by any department or agency; within 30 days of the issuance of this order, agencies shall review their authority to transfer any government-held Bitcoin to the Strategic Bitcoin Reserve and submit a report reflecting the results of the review to the Secretary of the Treasury.

ChainCatcher message, Strategy (formerly MicroStrategy) founder Michael Saylor posted that the United States currently holds the largest strategic Bitcoin reserves in the world.

ChainCatcher news, Bitwise Research Director Ryan Rasmussen stated that the ultimate goal has never been for the U.S. government to buy all the Bitcoin. The U.S. strategic Bitcoin reserve means:Other countries will buy Bitcoin;Wealth managers have no excuses;Financial institutions have no excuses;Pension/endowment funds have no excuses;Concerns about the U.S. selling Bitcoin disappear;The U.S. may buy more Bitcoin;The likelihood of states buying Bitcoin increases;The possibility of the government banning Bitcoin is zero.This will change everything in the long run.

ChainCatcher news, Coinbase executive Conor Grogan disclosed, "I estimate that the U.S. government holds 198,109 BTC. This executive order has eliminated about $18 billion in selling pressure."

ChainCatcher news, White House AI and cryptocurrency chief David Sacks stated, "Just a few minutes ago, President Trump signed an executive order to establish a strategic Bitcoin reserve. This reserve will be backed by Bitcoin owned by the federal government, which is part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime. It is estimated that the U.S. government owns about 200,000 Bitcoins; however, a complete audit has never been conducted. The executive order mandates a comprehensive accounting of the federal government's digital asset holdings.The U.S. will not sell any Bitcoin deposited in the reserve. It will be held as a store of value. For the cryptocurrency commonly referred to as "digital gold," the reserve acts like a digital Fort Knox. The premature sale of Bitcoin has already cost American taxpayers over $17 billion. Now the federal government will formulate a strategy to maximize the value of its Bitcoin holdings.The Secretary of the Treasury and the Secretary of Commerce are authorized to develop budget-neutral strategies to acquire more Bitcoin, provided these strategies do not impose incremental costs on American taxpayers. Additionally, the executive order establishes a U.S. digital asset reserve, which includes digital assets beyond Bitcoin seized in criminal or civil proceedings. Apart from assets obtained through forfeiture, the government will not acquire other assets for the reserve. The purpose of the reserve is to responsibly manage government digital assets under the leadership of the Treasury Department.From the promise to the fulfillment of that promise, President Trump has committed to establishing a strategic Bitcoin reserve and a digital asset reserve, and these commitments have now been realized. This executive order underscores President Trump's determination to make the U.S. the "crypto capital of the world." I want to thank the President for his leadership and vision in supporting this cutting-edge technology, as well as his swift action in supporting the digital asset industry. His administration is indeed moving at "the speed of technology."I also want to thank the President's Digital Asset Market Working Group—especially Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick—for their assistance and support in completing this work. Finally, Bo Hines has played a key role as the executive director of our working group."

ChainCatcher news, according to CoinDesk, multiple states in the U.S. are increasingly inclined to invest public funds into the cryptocurrency sector following President Trump's announcement that the federal government will also take similar actions, with Texas now becoming one of the leading competitors in this field.On Thursday, the Texas Senate passed Bill SB 21, which will allow the state to invest a portion of public funds into digital assets, particularly Bitcoin.Texas Lieutenant Governor Dan Patrick issued a letter regarding the passage of the "Texas Bitcoin Reserve Act" in the Senate: "Establishing a Texas Bitcoin Reserve is a bold move that other states should emulate. I stand with President Trump and hope to make Texas the center of America's digital future."

ChainCatcher news, according to DL News, Bitwise Chief Investment Officer Matt Hougan stated in his investment memo: "Trump is like a game changer, the establishment of the U.S. crypto strategic reserve will be seen as the first shot in the global Bitcoin arms race and will trigger a domino effect.Honduras, Mexico, or Guatemala, now looking at El Salvador, it's now America's turn to acquire Bitcoin. Will countries like Dubai, Qatar, or Saudi Arabia envy America's leading position? Countries may view Bitcoin as an important monetary asset."