Trump announces us Crypto Reserve: What is it and why it is important Donald Trump News

United States President Donald Trump on Sunday announced His government would create a National Strategic CRIPTO reserve which would cover five cryptocurries, adding that “the Cripto capital of the world” will do us.

In a statement about its true social network, Trump said that the crypto working group was set after its inauguration in January, pressurized forward with the creation of reserves, Fulfillment of promise He first made a crypto lobbyist during his election campaign.

After his week of announcements, the value called currency, including Bitcoin, were caused by the long fall of the week.

This move comes before the first white home fair on Friday and is a significant turnaround in American politics. The Management Board of the former President Joe Biden has stopped in the industry for suspicion of false transactions. Trump himself was a cryptic skeptic during his first term as president. At that time, he called Bitcoin – the largest cryptocurrency – “Fraud”.

In his weekly announcement, however, Trump criticized the bid’s policy, calling them “corruption”.

Trump said that the “CRIPTO reserve will increase this critical industry after the years of corrupt attacks by Biden administration … I am ensure that the US is the Crypto Capital of the world. We are making America again.”

Here’s what you need to know about the new American Cript Reserve:

What will the US CRIPTO reserve include?

On Sunday in his posts, Trump initially mentioned that minor currency would form a part of the new national crypto supplies.

About an hour later, however, the President in a separate post said “and obviously, BTC and Eth … will be in the heart of the reservation,” to the Bitcoin and Etherum, the upper two crossings by market value.

Markets immediately became conveniently reacted to a post with Cardano jumps about 60 percent to $ 1.25, according to $ 0.65, to Carbase Cripto Exchange – although until Monday, it has become settled at about $ 0.97. Solana rose with about 150 to $ 170 and XRP jumped from 2.25 to $ 3, as currencies are on the rise at a rate of about 12 and 20 percent, respectively.

Meanwhile, Bitcoin and Etherum gained more than 10 percent, and Bitcoin reached $ 94,000 from the previous $ 86,000.

During his campaign, Trump entered the crypt industry and promised aggressive measures in favor of currencies once in power. After his election victory in November, for example, the cryptocurrency market testified unprecedented – Bitcoin, for example, it reached all the time of high time of $ 109,000. However, the market slowed in weeks after.

Trump and first Lady Melania Trump in January launched its own Meme coins – Digital currencies inspired by viral trends, but the financial or technological support of real cryptocurries are missing.

Elon Musk, which leads Trump Government ride, also often promotes cryptocurrency on its social media network X (pre twitter).

What could be the goal for cryptic reserves?

Digital currencies like Bitcoins Government see them more and more as an alternative value store, such as gold and as a hedge against inflation. But some experts say the crippto market is very volatile and witnesses prices, making it a risky bet as an alternative value store – especially compared to gold.

Many countries holding digital currencies seized in criminal investigations could use cryptocurrents as a legal tender.

Switzerland plans to decide on the CRIPTO reserves after the public referendum, while Brazil, Germany, Hong Kong, Poland and Russia are considering or taking steps to build them.

The US government currently has the largest cryptocurrency of any country – 200,000 Bitcoin – and Trump attitude is considered an increasing credibility to different coins. If plans for American CRIPTO Reserve go ahead, more countries will probably spend the game due to the influence of the United States as the world’s largest economy.

Trump’s Cripto Push will position America ahead of the curve, giving it significant on them as international cryptou regulations later.

And if the US government, through reserve, has a significant piece of global volume of crypto token, would be able to reduce the price that can be reduced with these digital currencies.

In July 2024. The Republican Senator Cinthia Lummis introduced Evok Bitcoin in Congress, who moistened that Bitcoin, which Bitcoin had a transfer to the American cash register and pushed for the establishment of the crypto reservation. Lummis also said that such a reservation would help that the United States manage their current Bitcoin estimates in a transparent way.

“Bitcoin transforms not only our country, but also the world and becomes the first developed nation that uses Bitcoin as a savings technology, our position provides a global leader in financial inn,” she said.

The bill is still in consideration.

What other strategic reserves are holding now?

The only other strategic or urgent reservations that possess their huge oil supplies, known as strategic resta officers (SPR), in Louisiana and Texas.

The American government describes reserves as “the world’s largest offerings of emergency crude oil”. Up to 714 million barrels, the raw materials are stored in underground saline caves located in four separate locations on the Mexican Bay, according to the American government. It is held by the American Department of Energy.

Rarely now have to access their crude reserves. He was last in June 2011. year, when President Barack Obama directed that 30 million barrels were released to fill in the blanks caused by the conflict in Libya, the main country that produces oil. The reserves were first founded in 1975. year, after Arab countries announced oil embargo in countries that supported the war of Israel from 1973. years in Syria and Egypt.

Do other countries have a CRIPTO reserves?

Only three who currently treat cryptocurrency as a legal tender:

• El Salvador: From 2021. year, the Government of Naiaba Bukela adopted Bitcoin as a legal tender, which makes it the first country to do so. However, researchers from Yale found in studying January 2024. That coins do not see much benefit. In January, the government reduced the Bitcoin rules, which no longer makes it useful for paying taxes and public accounts. El Salvador currently has about 6,088 Bitcoin in reserves, which is estimated at $ 558 million.
• Central African Republic: In 2022. year, the car adopted Bitcoin as a legal tender, but it is unclear how much the country has in reserves.
• Bhutan: In January, Butan’s Geluphu Geluphu Dimprest adopted the cryptocurrian retention policy such as Bitcoin and Etherum in strategic reserves. Bhutan mines and owns about 11,000 Bitcoin, worth $ 1.1 billion according to Arkham exchange.

Meanwhile, several countries hold currencies such as Bitcoin, it is often confiscated through actions to implement the law in relation to criminal activities. State Gazions include:

• United States: It has about 200,000 Bitcoin, the most country in the world, values ​​about $ 16.7 billion, according to Bitcoin box office, trading website.
• China: Transactions CRIPTO are currently banned in China because the government struggled to regulate them. The Chinese government is working on creating its own digital currency – which one would support the Chinese Central Bank. Currently, China has about 194,000 Bitcoin, it values ​​about $ 16.2 billion (from 4. March), which was seized by Ponzi Scheme.
• United Kingdom: The government in the UK has about 61 bitcoin seized from international money laundering networks, according to the CRIPTO FIRN BINANCE. This is estimated $ 5 million.
• Ukraine: It contains about 1200 bitcoins from public donations due to the current Russian war on Ukraine. It’s worth about $ 100 million.
• Finland: It has about 890 bitcoin – estimated $ 74 million – was seized during the investigation by drug trafficking.
• India: The owner is 450 Bitcoin seized during investigating crippo, estimated at 37 million dollars.