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 US military base.
The metal on Friday surpassed $3,000 per ounce for the first time, boosted by an uncertain economic outlook amid Trump's tariffs.
- How will US bitcoin reserve work? -
The reserve will be virtually secured for an indefinite time.
- Announcement fails to impress -
Analysts have blamed the lack of support on a failure to immediately buy more bitcoin.
According to Aubert, “a big chunk” of the bitcoin held by the United States -- estimated at around 198,000 tokens -- would have to be returned to victims of a hack at crypto exchange Bitfinex in 2016.
Trump has said that bitcoin's nearest rival, ether, along with three other tokens -- XRP, Solana and Cardano -- could be added.
Critics of the US bitcoin reserve point out that, unlike gold, cryptocurrencies are risky assets and have no intrinsic value.
Meanwhile, Stephane Ifrah, an investment director at crypto platform Coinhouse, said that bitcoin, like gold, can profit from its rarity thanks to a limited 21 million tokens.
Additionally, with the bitcoin reserve, “we’re dealing with a rare asset that’s much more suited to today’s world”, Ifrah told AFP.
Trump has been accused by some of showing a conflict of interest, having vowed ahead of being elected to make the United States the “bitcoin and cryptocurrency capital of the world”.
The Wall Street Journal has reported that the Trump family discussed acquiring a possible stake in the Binance platform -- a report denied by the crypto exchange's founder.
Brazil is also considering the creation of a cryptocurrency reserve, an idea recently ruled out by the Swiss central bank.
El Salvador made bitcoin one of its official currencies, reversing the decision this year owing to a lack of take-up by citizens.
Bhutan holds nearly $900 million worth of bitcoin, equivalent to nearly 30 percent of the kingdom's gross domestic product.
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