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so we have the reserve and we have the stockpile so the reserve is just Bitcoin the goal is long-term preservation think
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of it as like a digital Fort Knox for digital gold we want to keep it secure we never want to sell it that's the goal
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of the Reserve at one point in time we had about 400,000 Bitcoin on the federal balance sheet we sold roughly half of
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that for something like $360 million if we had held all of that just that portion we sold would be worth over 17
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billion we don't want to make that mistake with regard to the rest of it we think there's around 200,000 coins left
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on the federal balance sheet but the truth is that nobody knows because we've never done a proper audit so part of
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what this executive order provides is that we're going to do for the first time a government wide accounting of the
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digital assets that we actually have that's Bitcoin okay so then you got the stockpile the purpose of the stockpile
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is responsible stewardship it's a place for safekeeping it's a centralized you could say account under the direction of
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the Secretary of the Treasury and the Secretary of the Treasury will figure out how to maximize the values of these
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Holdings now there's a couple important differences between stockpile and Reserve so one is we're prohibited from
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selling the Bitcoin there's no such prohibition with respect to the stock pile if the Secretary of Treasury
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decides that's in the long-term interest of the US to rebalance the portfolio or
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change the portfolio the secretary has the discretion to do that there's one other important difference between
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stockpile and Reserve so with respect to reserve the EO provides that the secretaries and I'm talking about
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Treasury and commerce they're allowed to figure out strategies to accumulate more
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Bitcoin for the reserve if those strategies are budget neutral and don't cost the taxpayer anything