Policy proposal for Trump’s Bitcoin stock leaks

The cryptocurrency industry is pressuring President-elect Donald Trump and incoming administration officials to purchase billions of dollars’ worth of bitcoin for the nation’s cryptocurrency stock, according to reports and policy proposals obtained by . New York Times.

The proposals, drafted by the Bitcoin Policy Institute for Trump officials, say such a stock could protect the country from economic fluctuations and stimulate investment in renewable energy. But the point they emphasize most is that if the United States buys large amounts of Bitcoin, it will be able to “hold the line” of the Western-led global order and counter the economic power and geopolitical influence of China.

“Bitcoin could enhance the global reach of the dollar network, particularly in emerging markets, where the long arm of China’s digital authoritarianism seeks to gain power,” according to BPI. a report Titled “Reordering the Global Economy: The US-China Competition and Bitcoin as an Instrument of US Statecraft,” it is directed specifically at Scott Besent, Trump’s pick for Treasury Secretary.

After a lengthy summary of all the ways the United States is lagging behind China, the report proposes creating a strategic reserve of 1 million bitcoins and makes a series of predictions about how the United States could use the fund to exert political influence if the value of the currency were to rise from its current price of just over 100,000. Dollars per Bitcoin to between $500,000 and $1.5 million per coin.

A BPI Policy Summary II He also discusses how massive investment in Bitcoin could counter China but not limit the list of adversaries, saying the US needs to bolster its crypto leadership and global influence “before autocrats and entrepreneurs in the Middle East and Asia seize the initiative.”

BPI claims that its proposals are not motivated by a desire to enrich existing bitcoin holders.

“The government’s strategic adoption of Bitcoin is not about rewarding private sector owners,” the group wrote in a report. “This is about national interests: protecting America’s financial leadership, ensuring economic resilience, and countering adversarial moves. The benefits to bitcoin holders are secondary to the broader goals of securing America’s place in the global financial system.

BPI’s proposals calling for a strategic stock have been coupled with personal lobbying efforts by cryptocurrency executives and even Senator Cynthia Lummis (R-WY), the Times reported.

Trump I brought up the idea of Bitcoin stocks during the election campaign and promised to make the United States a “Bitcoin superpower.” He also nominated cryptocurrency supporters for top government positions, including Paul Atkins, his pick to head the Securities and Exchange Commission.

Last week, the Ministry of Justice obtained a permit to do so $6.5 billion sold The value of Bitcoin seized from criminals.