1 month ago
US President Donald Trump announced an enforcement bid connected March 6 to found a Strategic Bitcoin Reserve.
This bid ensures that seized Bitcoin volition beryllium held successful a nationalist reserve and volition not beryllium sold. It would alternatively relation arsenic a store of value, akin to a “digital Fort Knox.”
The directive assigns Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick the work of formulating budget-neutral strategies to grow the country’s Bitcoin reserves without burdening taxpayers.
The announcement sparked important treatment and excitement wrong the crypto community. CryptoSlate has curated however cardinal figures wrong the manufacture responded to the milestone below
Industry leaders react
Bitcoin bull and the president of Strategy (formerly MicroStrategy) Michael Saylor welcomed the move, describing the Bitcoin Strategic Reserve arsenic a measurement toward US dominance successful the integer economy.
He added:
“The US present has the world’s largest Strategic Bitcoin Reserve.”
Senator Cynthia Lummis praised the decision, calling it a fulfillment of Trump’s promises and a objection of his committedness to Bitcoin.
She stated:
“We are becoming the bitcoin and integer plus superior of the world. America is truthful Back.”
Coinbase CEO Brian Armstrong called the bid a landmark determination for some Bitcoin and the broader crypto market. He predicted that G20 nations would instrumentality announcement and yet travel the US lead.
Armstrong said:
“Incredible execution from the Trump medication and a historical infinitesimal for Bitcoin and crypto! I expect galore of the G20 to instrumentality notice, and yet travel America’s leadership.”
Bitwise CIO Matt Hougan highlighted respective cardinal implications of the decision. He pointed retired that it importantly lowers the hazard of a aboriginal Bitcoin prohibition successful the US and increases the likelihood that different nations volition found their ain Bitcoin reserves.
Hougan besides noted that this determination could accelerate Bitcoin adoption globally, arsenic countries whitethorn enactment rapidly to physique their holdings earlier further US acquisitions thrust up demand.
He concluded:
“I’m not definite however the marketplace volition deliberation astir this short-term. I americium definite that semipermanent this is extraordinarily bullish for bitcoin.”
Meanwhile, crypto expert Kanazawa outlined imaginable ways for the U.S. to grow its Bitcoin reserves without further payer spending.
His suggestions included seizing assets done judicial means, reallocating golden reserves, redirecting different fiscal revenues, and leveraging unused computing powerfulness oregon vigor resources for Bitcoin mining.
The station Industry leaders expect the G20 to travel US Bitcoin reserve move appeared archetypal connected CryptoSlate.
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