President Donald Trumphas signed an executive order to create a Strategic Bitcoin Reserve, utilizing approximately 200,000 bitcoins seized through legal proceedings.This move aims to legitimize the crypto sector and diversify government financial assets.
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JUST IN: = Michael Saylor says
the US Bitcoin Reserve has potential to generate $16-81 trillion in wealth by 2045.
the US Bitcoin Reserve has potential to generate $16-81 trillion in wealth by 2045.
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President Trump signed an executive order establishing a Strategic Bitcoin Reserve, a move seen as a significant step towards the United States embracing the use of cryptocurrencies. The reserve will be used to hold a fixed supply of 21 million coins, providing a strategic advantage for the US in the long term.
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President Donald Trump has signed an executive order to establish a Strategic Bitcoin Reserve, aiming to bolster the United States' position in the global financial system. This initiative is part of a broader strategy to enhance the country's economic competitiveness and embrace digital assets.
Key Aspects of the Strategic Bitcoin Reserve:
Utilization of Seized Assets: The reserve will primarily consist of bitcoin and other cryptocurrencies confiscated through criminal or civil asset forfeitures. This approach ensures that the reserve is built without imposing additional costs on taxpayers.
Digital Asset Stockpile: Alongside bitcoin, the U.S. government plans to create a stockpile of other digital assets, including Ethereum (ETH), Solana (SOL), Cardano (ADA), and Ripple (XRP). This move signifies a broader acceptance and recognition of various cryptocurrencies.
Management and Strategy: The executive order mandates the development of budget-neutral strategies for acquiring additional bitcoin, ensuring that the accumulation does not burden taxpayers. The reserve is envisioned as a "digital Fort Knox," reflecting the strategic importance attributed to bitcoin.
Key Aspects of the Strategic Bitcoin Reserve:
Utilization of Seized Assets: The reserve will primarily consist of bitcoin and other cryptocurrencies confiscated through criminal or civil asset forfeitures. This approach ensures that the reserve is built without imposing additional costs on taxpayers.
Digital Asset Stockpile: Alongside bitcoin, the U.S. government plans to create a stockpile of other digital assets, including Ethereum (ETH), Solana (SOL), Cardano (ADA), and Ripple (XRP). This move signifies a broader acceptance and recognition of various cryptocurrencies.
Management and Strategy: The executive order mandates the development of budget-neutral strategies for acquiring additional bitcoin, ensuring that the accumulation does not burden taxpayers. The reserve is envisioned as a "digital Fort Knox," reflecting the strategic importance attributed to bitcoin.
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BREAKING: Crypto markets erase
-$100 billion of market cap this morning as Bitcoin falls below
$83,000.
-$100 billion of market cap this morning as Bitcoin falls below
$83,000.
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