“More likely to buy Bitcoin in the background”
Cryptocurrency analyst James Van Straten He expressed doubts Thursday about the immediate announcement of A.J Bitcoin (encryption: Bitcoin) strategic reserve on the first day of Donald Trump office.
What happenedVan Straaten ruled out the possibility of Trump issuing an executive order to create a Bitcoin reserve. Contrary to previous reports.
“I do not expect Donald Trump to announce a Bitcoin reserve via executive order on Day 1 or in the near term,” he wrote on X.
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Van Straaten added that Trump, a Bitcoin supporter, would likely buy in the background rather than make a public announcement. “It is no use announcing to the world your Bitcoin reserve because the price will run away from it. It will only buy in the background.
The most likely scenario is for Trump to restrict the sale of seized bitcoins held by the US government, Van Straaten said.
As of this writing, the government holds 198,109 bitcoins in asset forfeiture funds, According to For analytics company Arkham Intelligence.
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Why does it matter?: Van Straaten’s views are consistent with those of analysts Benzinga spoke with recently.
Johnny GabrielSenior Blockchain Economics and AI Integration Analyst at The initiative raisedHe said his money was on the US not selling the bitcoin it currently holds and calling up the Bitcoin Strategic Reserve.
These views follow speculation that Trump may create a national stockpile of Bitcoin as he promised in his election campaign.
Trump pledged to “do something great in crypto” when asked about a strategic reserve made up of the leading cryptocurrency.
https://media.zenfs.com/en/Benzinga/612faa4f06291ebbeff5d82b1abe2fac
