Recently, US Treasury Secretary Scott Bessent called for Bitcoin to be brought (BTC() said that he was onshore, and would be discussing the next steps in acquiring BTC during the White House Crypto summit on 7th March.
Bessent made an appearance in CNBC interview And criticized previous US government sales of Bitcoin. The Treasury Secretary told an interviewer that:
“I’m a big proponent of the US taking the worldwide lead in crypto. I think we have to bring it onshore and use our best practices and regulations. I think that the Bitcoin Reserve — before you can accumulate it — you have to stop selling it.”
Treasury Secretary added that the remaining Bitcoins would be placed in the Bitcoin Strategic Reserve after the victims of financial misfeasance and settled cases have been paid from the US Government’s confiscated Bitcoin stockpile.
US President Donald Trump signed an executive order He will establish a Bitcoin stockpile as well as a Bitcoin strategy reserve on March 6. host industry leaders The White House will be hosting a discussion on future crypto policies later that day, March 7.
US President Donald Trump signs an executive order creating a separate cryptocurrency stockpile and establishing a Bitcoin strategic reserve. Source: Margo Martin
Related: Trump’s Bitcoin reserve order reshapes institutional crypto investment
Start the Nation-State Games
El Salvador is a smaller country. already have Bitcoin strategic reservesThe United States’ influence, with the strongest capital markets on the planet, is likely to encourage other nations to follow suit.
Anthony Pompliano of asset management Anthony Pompliano says that the global race for Bitcoin was already underway in 2024 — arguing that the US should take the lead to front-run other nations.
Bitcoin Magazine Chief David Bailey speculated China quietly has been developing a Bitcoin-based reserve since the beginning of this year. reelection of Trump In the US.
Trump’s Strategic Reserve Order further legitimizes BTC for institutional investors The asset class is now firmly established as an important financial instrument.
Bitcoin commands a digital gold narrative The classic characteristics of store-of value are present. Due to the infancy of cryptocurrency, BTC has been viewed by many as a high-risk asset.
Bitcoins’ price has fallen due to this characterization crash during macroeconomic shocks Such as the trade wars and high inflation data.
Magazine: Bitcoin will ‘start ripping’ as Trump’s polls improve: Felix Hartmann, X Hall of Flame
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
