Trump creates the strategic bitcoin reserves and hosts the top of the White House encryption

President Donald Trump makes a great bet on Bitcoin, with all the power of the US government.

Trump Executive order Late Thursday, he created a strategic reserve for bitcoin for the United States, putting the cryptocurrency equally with oil and gold as strategic assets stored by Washington. David Sachs, Trump’s encryption and AI CZAR, BelBed the Metaphor. “The reserve is similar to the digital fortress of the cryptocurrency called” digital gold “. mail On x.

While digital currencies of various lines, prices, seriousness and validity have spread in recent years, Bitcoin has been very pioneering to the most widely dependent on a large scale. It was created in 2008 by a person or borrowed group called Satoshi Nakamoto (whose identity remains secret to this day), Bitcoin was presented as a person to a person who can work outside the global financial system. Although she did not completely reach the state of the global payment method depicted by her first supporters – partly because of her Extreme volatility– It has become a common investment.

The bags estimated that the United States government currently possesses about 200,000 Bitcoin (approximately $ 17.5 billion, according to what he said. Current prices). The current bitcoin, which has been seized by law enforcement in a campaign against criminal activity, will fill the reserve, with the unification of other encrypted currencies confiscated in the “Digital Asset Stock” that was also created by the executive order.

“This means that the taxpayers will not cost ten cents,” Sacks wrote, in a clear attempt to get rid of fears that buying the encrypted currency in the open market with US taxpayers dollars will lead to a spread scam and corruption.

“There was a lot of pressure to go out and buy fresh bitcoin” before the reserve storage decision is only in a actually illustrated currency, David Gerard, Foreign policy A shareholder and author of the book Blockchain: Bitcoin attack, Blockchain, Ethereum and smart contracts. “I expect the pressure to continue,” he said. But he added, “This still achieves a great and stupid group – to encrypt in the government.”

There was – and remains – a great fear that Trump would use government money to boost the price of some of the encryption assets that many of his supporters have, a form of trading from the inside. (Bags, for his part, have He said He sold all his encrypted property when joining the Trump administration.)

Trump encouraged these concerns earlier in the week. In fact mail It was launched on the first Sunday of March, the US President announced a broader “strategic reserve” It includes Bitcoin and ethereum digital currency alongside the least well-known XRP, Solana, and Cardano- with a price currently less than $ 3 each. That plan, perhaps to reduce some of the enthusiastic encryption supporters who He expressed concern About US government dollars used to buy more speculative digital currencies, it appears to have been suspended in favor of Bitcoin Reserve.

More details will appear on Friday, when the White House hosts The top of encryption With prominent industry executives and investors.

Many of these industrial numbers Millions of dollars donated to Trump’s presidency campaign and The opening boxHelp in converting a president once called Bitcoin Ato cheat“To one now declares the desire to convert the United States into”The capital of encryption in the world“

Somewhat controversial, Trump began his encrypted work The world is financial freedom last year. Company Website The president and his three sons, Donald Junior, Eric, and Parun, are listed from the leadership team alongside Steve Whitcom – the American envoy to the Middle East – and his sons Zach and Alex. Trump also Firing The name “Mumikoin– What does Coinbase define as “a type of encrypted currency? [is] It is often inspired by the memes, characters, or online trends “which are often associated with entertainment rather than use” – it is called $ TROMP – days before its inauguration, with the first lady Melania Trump For the first time Two days later.

Under the Trump administration, the US Securities and Stock Exchange Committee (SEC), which took the initiative to organize encrypted currencies, was more appropriate to encrypt so far. SEC last month hanging The case of fraud against the 34 -year -old Chinese encrypted Justin Sun, who has invested $ 75 million in Trump’s encryption work. It also stood on enforcement procedures against the exchange of cryptocurrencies Coinbase and Binance And his son Prescribed A new encoding business group to “recommend practical policy measures aimed at enhancing innovation and protecting investors.” Trump’s candidate for the presidency of the Supreme Education Council, Paul Atines, is widely seen as a supporter of rent.

“The Supreme Council for Education has spent the past eight years under the first Trump administration and the Biden administration, which is fighting against encryption, because all these things were clearly fraud in securities only under the discourse of the law.” “This is just a bare clamoria. This is corruption. That’s what appears.”

For many supporters of the upholsomery encryption, However, the United States government has a strategic reserve for Bitcoin without actually having to go out and buy any best scenario. (It seems that many others were hoping for government purchases, which may explain the reason for the bitcoin price Decline About $ 5,000 immediately after the Trump administration announced.)

“I have been somewhat surprised that this has already happened,” said Avichal Garg, co -founder and general partner of Electric Capital. He added: “As a person who was in this space for a long time, it is crazy that the American government will now stick to Bitcoin and not sell it.”

For GARG, the Bitcoin strategic reserve is clear. It indicates that unlike other cryptocurrencies, SEC has for years It is considered Bitcoin to be a Commodity Instead of security – which deserves the global offer more 1.7 trillion dollars. This means that it is treated as closer to concrete, trading commodities such as oil, gold, or pills than investment units such as stocks or bonds.

“I think that it is through a kind of gap at this stage as a global commodity, and I believe that the guidance is far from gold and some other rare commodity is logical,” said Garid. “This is the only one that somewhat guarantees, so it is intuitively logical.”

The United States will not be the first country to establish the Bitcoin Reserve. The famous Salvador (and ControversialHe did this as part of President Nayb Bokil pushed to make the legal giving to Bitcoin, and Bhutan She followed her example recently.

“Once the small countries started doing this, it was only a matter of time until the great players did, and therefore I think it is really intelligent to run this type of front in the United States,” said Garid. Regarding the adoption of global bitcoin, there is a few negative aspects. “Either someone else does this, and in this case you operate it in the foreground and realize all the appreciation, or no one does that and does not really cost you anything.”

The biggest question, perhaps, is whether the United States needs to store the cryptocurrency. “We have strategic reserves for things that we may need in the event of an emergency and we may not be able to buy in the open market. Martin Chorzma, an older colleague at the Peterson Institute for International Economy who is looking for digital currencies, said we do not have strategic reserves for financial assets.” There is no world I can imagine. It will include the United States government that needs to buy Bitcoin in some emergency situations. “

Even just adhering to bitcoin and other cryptocurrencies that have been seized by law enforcement will be inverse results, according to Chorzempa. “The problem is that we give up most of our issues against coding fraud and one of the people who manage the drug market using the encrypted currency pardonConsequently, the extent that we will consumed in reality is that the encryption may not be strong for a possible flow as one may expect, ”adding that the cost of an alternative opportunity makes it not different from the use of taxpayer dollars.” This is the same from the functional point Keep it. “

Gerard is frankly put. “There is no justification for the strategic bitcoin reserve,” he said. “It seems a stupid idea, because it is.”

But for GARG, one thing is clear. “What this really indicates is that Crypto will not go away. He said,“ I think it is very difficult for me to see Bitcoin will go to scratch at this stage. ”Even two years ago or so, you could have made an argument that Bitcoin was mainly speculative and very volatile, and Bonzi’s scheme was.” But he added, “Bonzi plans that the government tend to continue for a long and long period.”