The feasibility of Donald Trump’s ambition to create a national reserve of Bitcoin is still being studied by officials in the administration, White House crypto czar David Sacks said as he met with lawmakers to advance the new president’s policies on digital assets.

Trump’s crypto czar David Sacks pushes stablecoin bill, explores federal bitcoin reserve, as SEC softens stance in major policy shift.

The Trump administration is actively pursuing initiatives related to cryptocurrency, but there has not been any official announcement regarding the highly anticipated Bitcoin reserve. David Sacks, the White House’s cryptocurrency director and President Donald Trump’s crypto czar,

President Trump signed the executive order for a US sovereign wealth fund during a Feb. 3 press event in the Oval Office. The order directs Treasury Secretary Scott Bessent and Secretary of Commerce Howard Lutnick to initiate the process “that will hopefully result in the creation of an American sovereign wealth fund.”

Bitcoin shot up from the $91,000 price level in the past day and claimed a high of $102,000 while altcoins also soared.