Trump recently signed an executive order creating a digital reserve backed by approximately 200,000 seized bitcoins, worth around $17 billion, which crypto chief David Sacks has called “a digital Fort Knox.”

This reserve, funded by seized bitcoins, aims to stabilize the U.S. economy and potentially support the U.S. dollar.

Bitcoin’s value has been volatile, with prices recently surpassing $3,000 per ounce, while some analysts suggest the reserve might not impress due to delays in expanding its holdings.

Critics argue that cryptocurrencies, unlike gold, are risky, though Sacks views them as a way to protect against short-term volatility.

The reserve’s transparency is seen as an advantage over gold reserves, France 24 has reported.

Some critics also speculate that Trump’s actions could benefit the crypto industry financially, especially after his past ties to crypto ventures.

Written by B.C. Begley