Trump's order requires all federal agencies currently holding bitcoins seized as part of a criminal or civil asset forfeiture proceeding to transfer those bitcoins to the Treasury Department, which itself already has a store of bitcoins. Additionally, any other digital assets forfeited will be collected in a separate Digital Assets Stockpile.

United States President Donald Trump’s executive order to establish a Bitcoin strategic reserve and a stockpile of other digital assets has failed to impress crypto markets, with Bitcoin’s value plummeting following the announcement.