US Bitcoin Reserve: Eric Trump’s Deleted Tweet Raises Eyebrows

2 months ago

While the Bitcoin terms is hovering conscionable beneath the aged all-time precocious of December 17, US Senator Cynthia Lummis and Eric Trump reportedly convened astatine the Capitol yesterday to sermon the conception of creating an American Strategic Bitcoin Reserve (SBR). Bloomberg’s Steven Dennis broke the news, portion Swan, a crypto-focused platform, spotlighted Eric Trump’s now-deleted retweet astir the meeting.

Almost arsenic soon arsenic Eric Trump retweeted Swan’s station referencing talks with Senator Lummis connected the SBR, helium pulled it down without explanation. “What’s brewing down the scenes?” Swan queried successful a consequent tweet, suggesting the swift deletion could bespeak high-level caution, perchance to debar front-running an authoritative announcement.

DEVELOPING: Eric Trump RT’d @Swan’s station astir his gathering with Senator Lummis connected the American Strategic #Bitcoin Reserve—then rapidly deleted it.

What’s brewing down the scenes? 🤔 pic.twitter.com/E7nqbieNIQ

— Swan (@Swan) January 22, 2025

This latest buzz follows Senator Lummis’ unveiling of The Bitcoin Act of 2024 past year, a legislative connection to formally found a US strategical Bitcoin reserve. Known officially arsenic the Boosting Innovation, Technology, and Competitiveness done Optimized Investment Nationwide (BITCOIN) Act, the measure outlines a program for the U.S. Treasury to get 1 cardinal BTC implicit 5 years, funded by reallocating existing resources wrong the Federal Reserve System and the Treasury Department.

While details stay scarce regarding the advancement of the legislation, sources bespeak Lummis’ bureau is moving diligently to navigate the governmental and logistical complexities involved. Notably, Senator Lummis besides met with erstwhile President Donald Trump implicit the weekend. Senator John Barrasso revealed via X: “Senator Lummis and I had a large clip talking with President Donald Trump this morning. Wyoming is acceptable for Inauguration Day tomorrow!”

Bitcoin Reserve Rumors Intensify With Ulbricht Pardon

The conception of an SBR has gained renewed momentum pursuing yesterday’s pardon of Ross Ulbricht by President Trump. Analysts enactment that during the 2024 conference, Trump had floated the thought of transferring BTC seized by instrumentality enforcement into a nationalist stockpile. Now, with the pardon committedness fulfilled, galore successful the assemblage are wondering if the SBR program could beryllium adjacent connected the administration’s agenda.

On prediction level Polymarket, the odds of an imminent SBR soared from 28% to 44% aft quality of the pardon broke. Those likelihood had erstwhile reached arsenic precocious arsenic 59% astir Inauguration Day. As of late, they had dipped backmost to astir 28%—only to bounce upward again pursuing Ulbricht’s release.

Crypto expert known arsenic Byzantine General voiced optimism, posting connected X: “The information that helium kept his committedness with Ross is simply a bully motion IMO that he’s going to travel done with supporting crypto.”

David Bailey, CEO of BTC Inc who was instrumental successful turning Trump pro-BTC, added to the speculation, remarking: “Tonight is astir Ross but I’ll stock this since I’m getting a ton of questions: I’m inactive expecting dedicated bitcoin+crypto EOs successful coming days. I don’t cognize what they accidental oregon precisely erstwhile they drop. I besides afloat expect the President to present connected the SBR successful his archetypal 100 days.”

Anthony Pompliano, Founder & CEO of Professional Capital Management, posted a likewise assured take: “If Ross Ulbricht got the pardon, we are decidedly getting the Strategic Bitcoin Reserve. Trump volition make past with the changeable of his pen.”

In a abstracted treatment astatine the World Economic Forum, Coinbase CEO Brian Armstrong was asked astir President Trump’s stance connected establishing a US Bitcoin reserve. Armstrong said:

“Well, I didn’t speech to him astir that specifically, but I deliberation helium is excited astir it. I mean, helium truly wants to beryllium the archetypal Bitcoin president. Cynthia Lummis successful the Senate is actually, I think, the 1 driving this authorities astir a strategical Bitcoin reserve. And I deliberation it’s a bully idea. The US really has reserves successful tons of things, gold, oil, I deliberation similar 27 antithetic uncommon minerals similar palladium and each these things. And so, you know, I deliberation the satellite is moving to a Bitcoin modular for money. They perfectly should hold. Any authorities who holds golden should besides clasp Bitcoin arsenic a reserve.”

At property time, BTC traded astatine $105,382.