Trump’s Cryptocurrency Czar is revealing big plans for America’s digital gold mine, and the strategy could transform how the government handles its Bitcoin fortune.
At a glance:
• David Sacks, Trump’s AI and cryptocurrency advisor, appeared on Fox News’ “Hannity” to discuss federal Bitcoin strategy
• The U.S. government has accumulated approximately 400,000 Bitcoin through civil and criminal seizures over the past decade
• About half of these holdings were sold at low prices, resulting in significant financial losses
• Trump signed an Executive Order to create a “digital Fort Knox” strategic Bitcoin reserve
• A full audit has been ordered to determine exactly how much Bitcoin remains in government possession
Building America’s Digital Fort Knox
David Sacks, recently appointed as President Trump’s artificial intelligence and Cryptocurrency Czar, outlined his vision for America’s Bitcoin strategy during an appearance on Fox News’ “Hannity.” The tech entrepreneur and venture capitalist explained how the federal government has amassed a substantial Bitcoin fortune through legal means.
Sacks revealed that the U.S. government had accumulated approximately 400,000 Bitcoin over the past decade through civil and criminal seizures and forfeitures. Unfortunately, about half of these valuable digital assets were sold off at much lower prices than today’s valuation.
Trump’s Executive Order Creates Strategic Reserve
President Trump has taken decisive action by signing an Executive Order to establish a strategic Bitcoin reserve. This innovative approach aims to preserve and maximize the value of the remaining government-held Bitcoin, estimated to be around 200,000 coins.
“We’re creating a digital Fort Knox,” Sacks told host Sean Hannity. “What we’re talking about is Bitcoin that’s already on the federal balance sheet.”
The decision comes after previous administrations sold significant portions of the government’s Bitcoin holdings at prices far below current values. Had those coins been retained, they would be worth billions more in today’s market.
David Sacks Explains the Strategic Bitcoin Reserve + US Digital Asset Stockpile in 90 Seconds
On E218, @DavidSacks joined @Jason to break down the latest EO on crypto:
Strategic Bitcoin Reserve
— Purpose: long-term preservation
— "Like a digital Fort Knox for digital gold."… pic.twitter.com/8Jl7XUDaLB
— The All-In Podcast (@theallinpod) March 8, 2025
Auditing America’s Crypto Assets
A key component of Trump’s Bitcoin strategy involves conducting a comprehensive audit of all government-held cryptocurrency. The exact amount currently in possession remains uncertain, highlighting the need for proper accounting of these valuable digital assets.
“Bitcoin has proven over time to be a very good investment,” Sacks explained to Hannity. “It’s proven to be very secure… The price has gone up from basically zero to roughly $90,000 per coin, and we think this stuff is scarce – it’s like digital gold.”
The full audit will ensure maximum value for American taxpayers by properly managing these assets rather than selling them at undervalued prices. Proper cryptocurrency management could potentially provide significant returns for the American people as Bitcoin continues to mature as an asset class.
