Trump’s bitcoin reserve to be a ‘digital Fort Knox’

The creation of a “Strategic Bitcoin Reserve” in the United States is further proof of President Donald Trump’s support for the cryptocurrency sector.

Trump earlier this month signed an executive order establishing the reserve, which White House crypto chief David Sacks has likened to “a digital Fort Knox,” comparing it to the stockpiling of gold bars at the U.S. military base.

Gold is held in reserves by countries worldwide as the metal is seen as a safe-haven asset, protecting against financial instability such as high inflation.