As part of this initiative, Trump plans for the US government to retain all Bitcoin it holds or acquires, making it a core component of the strategic reserve.

Dennis Porter, CEO of Satoshi Action Fund, confirmed that BlackRock supports this strategic Bitcoin reserve idea, suggesting a favorable outlook for Bitcoin under Trump's administration.

VanEck, a respected global investment firm, has also endorsed Bitcoin as a strategic reserve, joining BlackRock in highlighting the increasing interest in digital assets among major asset managers.

In July 2024, Donald Trump's campaign outlined a vision to position the US as a leader in the cryptocurrency sector by creating a strategic national Bitcoin stockpile.

Matthew Sigel, head of digital asset research at VanEck, endorsed Trump's proposal for a national strategic Bitcoin reserve on November 19, 2024.

Porter outlined steps for establishing the reserve, starting with the appointment of a pro-Bitcoin Treasury Secretary by Trump.

The proposed steps include halting the auction of Bitcoin held by the US Marshals Service and transferring those assets to the Treasury's Exchange Stabilization Fund.

This proposal has sparked excitement in the market, contributing to Bitcoin reaching an all-time high of $94,000, reflecting growing investor confidence.

As of the article's writing, Bitcoin's price had slightly decreased to $93,380, still marking a 40% increase in two weeks.

He emphasized the need for legislative support, as executive orders can be reversed, and suggested that Senator Cynthia Lummis should lead the initiative in Congress.

Senator Lummis has introduced the BITCOIN Act, aimed at preserving all Bitcoin owned by the government, which currently totals 69,370 BTC worth approximately $6.4 billion.

VanEck currently holds over 13,000 Bitcoins, valued at over $1.2 billion, indicating significant investment in the asset.