Bitcoin Reserve draft out after Trump’ meets Crypto.com CEO

President-elect Trump met with crypto industry leader Kris Marszalek to draft an order for a Bitcoin reserve to strengthen the US financial landscape.

Crypto.com CEO Kris Marszalek met with Donald Trump at Mar-a-Lago on December 16 to talk about proposed crypto-related appointments within finance departments and Congress. They also discussed drafts of the U.S. Strategic Bitcoin Reserve, which would be managed under the Treasury’s Foreign Exchange Stabilization Fund, as outlined in a July speech in Nashville.

What does a Strategic Bitcoin Reserve require?

Following the meeting, Bitcoin Magazine published a draft executive order prepared by the Bitcoin Policy Institute that includes a policy framework setting out the creation of the Strategic Bitcoin Reserve. The United States aims to classify Bitcoin (BTC) as a strategic reserve asset under the Treasury’s Foreign Exchange Stabilization Fund to increase economic security.

Bitcoin Policy Institute drafted Executive Order for Bitcoin Reserve for President Trump. Source: Bitcoin Magazine

It also ensures that the reserve has strict controls and safety standards. All BTC held by the government, including those obtained in forfeiture cases, will be consolidated under the SBR within seven days.

The Treasury must also establish a program within 60 days to purchase and manage BTC assets. The decision is an effort to consolidate U.S. leadership in digital assets that will build economic resilience and global financial superiority.

The meeting with the 45-year-old CEO follows a recent phone call between Trump and Coinbase CEO Brian Armstrong on Nov. 19, as reported by Fortune. In addition to consulting with CEOs of crypto firms, Trump tapped several known crypto supporters, including Howard Lutnick as secretary of commerce and Paul Atkins to lead the U.S. Securities and Exchange Commission next term, further strengthening his pro-crypto stance .

BTC also reached an all-time high of $108,268.45, likely driven by the news on December 17. At the same time, Derek Merrin, who leads Ohio House Republicans, also proposed a bill to introduce a government-backed Bitcoin Reserve.