Trump is reportedly considering "a government program to buy and hold billions of dollars in Bitcoin" through a Bitcoin reserve

President-elect Donald Trump is reportedly preparing an executive order to prioritize cryptocurrency as a key policy area and integrate industry voices into his administration, according to sources familiar with the plan.

The anticipated order would designate cryptocurrency as a national priority, using strategic language to encourage government agencies to engage with the industry, the sources said. It is also expected to establish a crypto advisory council to champion the sector’s policy goals, according to individuals who requested anonymity to discuss the yet-to-be-public order.

This move would mark a significant shift for the crypto sector, which has faced intense scrutiny during President Joe Biden’s administration following high-profile fraud scandals like the collapse of FTX. Over the past several years, federal agencies such as the Securities and Exchange Commission have pursued more than 100 enforcement actions against crypto firms, while banking regulators have imposed restrictions on financial institutions working with the industry.

The executive order may also include directives for all government agencies to review existing policies on digital assets and potentially pause ongoing legal actions involving crypto companies, the sources said. Halting litigation targeting firms like Binance Holdings Ltd., the largest global crypto exchange, and Ripple Labs Inc., remains a top priority for the sector.

A National Bitcoin Stockpile

Another provision under consideration is the creation of a national Bitcoin reserve, which would consolidate the government’s existing holdings of the cryptocurrency, the sources noted. The U.S. currently possesses nearly $20 billion in Bitcoin, seized during investigations, according to analytics firm Arkham. Bitcoin has surged 44%, reaching almost $100,000 since the November election, fueled by optimism surrounding this potential initiative.

The executive order could be announced as early as Monday, though details may still change before its release, the sources said. A Trump representative did not immediately respond to requests for comment.

A Broader Strategy for Crypto Leadership

Trump has pledged to issue numerous executive orders across various sectors in his first days back in office.

“This signals that the United States is prepared to lead in the crypto industry,” said Kara Calvert, vice president for U.S. policy at Coinbase Global Inc., the largest cryptocurrency exchange in the country. “It’s a clear message to other nations: Keep up, or risk falling behind.”

Despite regulatory headwinds during Biden’s tenure, the U.S. crypto sector has seen growth, with major financial players like BlackRock Inc., the world’s largest asset manager, launching spot Bitcoin and Ether exchange-traded funds last year. BNY Mellon and other traditional financial institutions have also made strides in integrating digital assets into their services.