Trump Signs Executive Order for US Bitcoin Reserve | Airdrop Alert Pro

Donald Trump has kept his promise and signed an executive order to build strategic bitcoin reserves and separate U.S. digital assets inventories.

While some industry figures praise the order, others still doubt it. They believe that the initiative is nothing more than a renaming of existing government holdings, without a substantial new strategy.

Donald Trump signs strategic bitcoin reserves

The order directs the U.S. Treasury Department to initially fund Strategic Bitcoin Reserves With BTC By confiscating criminal and civil assets. The government vowed not to sell the assets.

“Bitcoin (the original cryptocurrency) is called “digital gold” because of its scarcity and Safetynever hacked. With a fixed 21 million coins, becoming the first countries to create strategic Bitcoin reserves is a strategic advantage.” Order read.

Arkham Intelligence data shows that the U.S. government holds 198,109 BTC in its public wallets at a price of $17.5 billion.

Despite such holdings, David Sacks, AI and Crypto Tsar at the White House, It is pointed out that there has never been a comprehensive audit of government digital assets. The new executive order requires this accounting.

“The premature sales of Bitcoin have cost U.S. taxpayers more than $17 billion in lost value. Now the federal government will have a strategy to maximize the value of its holdings,” he said. Write.

It also authorizes Budget-neutral strategy to get more bitcoin. However, critics believe Lack of substantial impact on reserves.

Industry experts split on strategic bitcoin reserves

Jacob King, the founder of the Whale, dismissed the reserve’s recent concern.

“In fact, it’s been around for over a decade, and they just took a fancy title on it to appease Bitcoin,” he said. Comment.

The king also pointed out Reserve Nothing involved New Bitcoin Purchase. Therefore, he believes that this makes it very trivial in the grand market plan.

Bitcoin’s outspoken critic Peter Schiff also weighed the order. According to Schiff, the move was under pressure from donors and conflicting cabinet members.

He described the order as a “false” attempt to exploit Bitcoin that the government has already held.

“If they catch more bitcoins, they can also keep it. But they can’t buy it anymore because by definition, the purchase requires payment,” Schiff Posted.

Despite its criticism, some industry leaders view the order as an important step in legalizing Bitcoin on the world stage.

“The ultimate game is never the U.S. government to buy all the bitcoins around the world,” Ryan Rasmussen, head of research at Bitwise. explain.

Rasmussen explained that this move could Promote other countries to buy Bitcoin. He also hopes that this will put pressure on wealth managers, financial institutions, pensions and endowment foundations to adopt cryptocurrencies.

Rasmussen said the reserve would ease concerns about the U.S. selling its shares and could pave the way for future acquisitions. He added that the move increased the likelihood of the U.S. adoption of Bitcoin.

Matt Hougan, CIO, is based in Bitwise, agrees. He pointed out that the order could greatly reduce the possibility of a future Bitcoin ban. Hogan additional Reserve,

“Speed ​​up the pace of other countries considering building strategic Bitcoin reserves as it provides a short-term window for the United States to make it possible for the United States to purchase additional purchases.”

Analyst Nic Carter also praised the decision, saying it was a successful campaign promise. He stressed that Bitcoin has been formally approved by the U.S. government, which is the difference for other cryptocurrencies. Carter stressed that not using taxpayer funds helps protect the plan from the rebound.

“The announcement couldn’t be better,” he claim.

The signing of the executive order occurs when White House Crypto Summit. Initially, Trump is expected to sign a Bitcoin reserve order at the summit This has caused the price of Bitcoin to rise. Still, actual signatures lead to a decline in the value of cryptocurrencies.

After a brief regaining this level on March 5, Bitcoin fell below $90,000 again. At press time, Bitcoin was trading at $87,469, down 4.5% in the past 24 hours.