The Blockchain Bulletin, March 8: Trump Orders BTC Reserve to Hold 200K BTC

Hey Folks! Welcome to the latest edition of our blockchain bulletin series featuring crucial happenings in the crypto world in the last 24 hours. Get ready as we explore insights that have made headlines in the market.  President Donald Trump has signed an executive order establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, ensuring that approximately 200,000 Bitcoin seized in criminal and civil forfeiture cases remain under government control.  The executive order immensely interferes with the government’s approach to BTC, positioning it as a strategic asset rather than a liquidated holding. Estimates suggest the U.S. currently holds 200,000 BTC, valued at approximately $18B. By forbidding the sale of these holdings, the directive effectively removes substantial sell-side pressure, potentially stabilizing Bitcoin’s market value.

White House AI Crypto Czar David Sacks announced that this reserve will serve as a long-term strategic asset rather than being liquidated, preventing further losses like the estimated $17 billion taxpayers missed due to previous premature sales. Besides securing Bitcoin’s place in national reserves, the order mandates a full audit of federal digital asset holdings to address the lack of transparency in previous administrations. Additionally, the Treasury Department will oversee the U.S. Digital Asset Stockpile, housing other confiscated cryptocurrencies to integrate digital assets into federal reserves further. 

More market insights on Bitcoin’s price action suggest that the token is trading at $86,402.86, dropping 1.87% in the last 24 hours, according to CoinMarketCap. The market cap stands at $1.71 trillion with a $52.71 billion trading volume. The price moved between $88K and $86K, showing resistance at higher levels. Bitcoin remains volatile as macroeconomic trends and U.S. policies shape market sentiment.

Meanwhile, Texas had established its first Bitcoin Reserve, following the federal government’s lead. The Texas Senate has passed Senate Bill 21 with a 25-5 vote, marking a historic step in state-level digital asset adoption. Senator Charles Schwertner, who introduced the bill, emphasized Bitcoin’s role in Texas’ economy, while Lt. Governor Dan Patrick described it as a step in the state’s financial future. The reserve will hold Bitcoin and other digital assets with a combined market capitalization of at least $500 billion, strengthening Texas’ position in the crypto space. Moreover, legislators have made legal appropriations into the fund through the state budget, reinforcing Texas’ commitment to digital assets. With 18 other states currently considering similar reserves, Texas joins a growing list of governments exploring cryptocurrency-backed financial strategies. Utah remains at the forefront of this movement, while New Hampshire’s House Bill 302 proposes allocating up to 5% of public funds to Bitcoin and precious metals.  

While the U.S. government and Texas focus on accumulating Bitcoin, India is leveraging blockchain for a different purpose—digitizing land records. The Dantewada District Administration has secured over 700,000 historical land records on the Avalanche blockchain, ensuring tamper-proof documentation dating back to the 1950s. The initiative, completed in partnership with Indian blockchain startup LegitDoc by Zupple Labs, has plans to eliminate fraud and streamline property verification, therefore reducing the time needed to confirm ownership. Previously, these processes could take weeks due to bureaucratic delays, but the blockchain-based system now allows instant verification. 

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