Trump's Crypto Czar Evaluates Bitcoin Reserve Feasibility

President Donald Trump has tasked David Sacks, his crypto and AI czar, with evaluating the feasibility of a Bitcoin reserve. Sacks, who held his first press conference on digital assets on February 4, noted that the administration is still in the process of evaluating the idea, pending the confirmation of certain Cabinet Secretaries.

Sacks clarified that the recently announced Sovereign Wealth Fund would be separate from any potential Bitcoin reserve. However, some in the crypto community have expressed skepticism about the likelihood of a Bitcoin reserve, given the use of the term "evaluate" instead of a more definitive commitment.

Market research analyst Jim Bianco suggested that the use of the term "evaluate" could indicate a stalling tactic, while BitMEX founder Arthur Hayes echoed similar sentiments, stating that Trump's policies may take longer to materialize. In response, macro expert Lyn Alden urged users to double down on Bitcoin and ignore the reserve.

In his first week in office, President Trump signed a crypto executive order that included a likely "national digital asset stockpile" within 180 days. However, the initial high expectations of a U.S. Bitcoin reserve within a hundred days have since evaporated. Some leaders, such as Senator Cynthia Lummis, have emphasized the need for a legislative framework that stands regardless of who is in power.

Despite the skepticism, some leaders have urged the crypto community to be patient. Bitwise CEO Hunter Horsely, for example, encouraged the community to wait for the likely fruitful outcome of the expected crypto policies. Polymarket's odds of a U.S. Bitcoin reserve in 2025 have dropped from a record of 65% on January 17 to below 50% at press time.