Bitcoin Advocates Debate Trump's Crypto Stockpile Order
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Trump’s executive order on digital assets sparks debate over Bitcoin’s exclusion from the national stockpile - IcoHolder.
U.S. President Donald Trump’s recent executive order to study the creation of a “digital asset stockpile” has left Bitcoin advocates disappointed, as the order fails to explicitly mention the leading cryptocurrency. Podcaster Peter McCormack pointed out in a Jan. 23 social media post that the omission of “Bitcoin” from the order has frustrated many in the community.
The order, which tasks a working group to propose a stockpile potentially derived from lawfully seized cryptocurrencies, has fueled speculation about the scope of assets that could be included. Advocates like Ikigai Asset Management’s Chief Investment Officer, Travis Kling, argue that any stockpile should exclusively hold Bitcoin (BTC), warning against the inclusion of other cryptocurrencies.
Tech-Neutral Language Sparks Controversy
Dennis Porter, CEO of the Bitcoin-focused Satoshi Action Fund, defended the executive order’s use of the term “digital assets,” describing it as “tech neutral” and pragmatic. Porter suggested that such language could reduce political opposition and facilitate the creation of a significant national Bitcoin stockpile.
“Tech-neutral language such as ‘digital assets’ is a proven and effective way to get to the end goal of making the USA the largest holder of Bitcoin in the world,” Porter stated.
However, Pierre Rochard, Vice President of Research at Riot Platforms, dismissed the ambiguity, claiming the order’s language leaves room for other cryptocurrencies to dilute Bitcoin’s prominence. He also accused Ripple Labs of lobbying against a Bitcoin-only reserve, arguing that the company is pushing for central bank digital currencies (CBDCs) built on its platform. Ripple CEO Brad Garlinghouse refuted these claims, insisting that the company’s efforts are actually increasing the likelihood of a crypto strategic reserve, which would include Bitcoin.
The U.S. Government’s Crypto Holdings
Data from Arkham Intelligence reveals that the U.S. government already holds a substantial cryptocurrency portfolio, largely composed of Bitcoin. Of its $20.8 billion in crypto holdings, 98%—valued at $20.4 billion—consists of 198,100 BTC. The remainder includes $182 million worth of Ether and millions in other altcoins.
While Trump’s July campaign remarks at a Nashville Bitcoin conference promised a “strategic national Bitcoin stockpile,” the executive order adopts a broader approach, leading to further dissatisfaction among Bitcoin maximalists.
Uncertain Future for a National Crypto Stockpile
David Sacks, Trump’s newly appointed crypto and artificial intelligence czar, will lead the working group to study the potential stockpile. Speaking to FOX Business, Sacks said, “We’re going to evaluate that,” emphasizing that no decision has been made regarding the stockpile’s implementation.
A “stockpile” typically refers to assets held for future use or emergencies, contrasting with a “strategic reserve,” which aims to strengthen a country’s financial health. Many in the crypto industry hope that Bitcoin will ultimately gain recognition as a strategic reserve asset.
As Bitcoin prices remain steady at $104,290, the debate underscores the tension between broad crypto adoption and Bitcoin’s unique status as the market leader. The working group’s findings could significantly shape the direction of U.S. crypto policy in the years to come.