New Delhi, March 7 -- US President Donald Trump on Thursday signed an executive order establishing the country's strategic bitcoin reserve. Trump's order comes a day before his meeting with cryptocurrency executives at the White House.

Explaining the details of the order, White House AI and Crypto Czar David Sacks said that the reserve will be capitalised with bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings.

"This means it will not cost taxpayers a dime," he said in a post on X.

However, it was not immediately clear how the bitcoin strategic reserve would work or how it would benefit taxpayers.

He said that Trump kept the promises he made.

"President Trump promised ...