VanEck Gives Official Backing To Donald Trump’s Bitcoin Reserve Strategy
Matthew Sigel, head of digital asset research at asset manager and cryptocurrency exchange-traded fund (ETF) issuer VanEck, made it official on Tuesday. Agree President-elect Donald Trump has proposed a national strategic Bitcoin reserve.
Major financial players agree
The recognition comes amid growing discussion about BCT’s role in U.S. economic policy, particularly with Dennis Porter, co-founder and CEO of the non-profit Satoshi Action Fund (SAF) Porter’s discussion, reiterate BlackRock’s support for Bitcoin Strategic Reserve.
Porter emphasized that the Trump administration is actively working to establish this reserve through an executive order, which highlights the significant consensus among major financial players and lawmakers regarding the future of Bitcoin.
In a series of social media posts on X, formerly known as Twitter, Porter also Overview He believes that a series of steps will facilitate the establishment of a strategic reserve of Bitcoin, suggesting that the process will begin with Trump appointing a pro-Bitcoin Treasury Secretary.
Key Steps to Building a U.S. Bitcoin Strategic Reserve
Porter claimed that Donald Trump would then sign an executive order to create the reserve, which would also include halting auctions of Bitcoin currently held by the U.S. Marshals Service.
In the next phase, the Treasury Department will absorb these Bitcoin assets and place them into the Exchange Stabilization Fund. Over time, the Treasury will continue to accumulate Bitcoin as reserves.
Porter also pointed to the importance of legislative support, noting that since executive orders can be easily overturned, Congress passed a formal bill to establish a strategic reserve, led by pro-cryptocurrency Senator Cynthia Lummis. Crucial.
The potential of the U.S. Strategic Bitcoin Reserve has caused considerable excitement in the market, leading to Bitcoin’s recent surge to an all-time high of $94,000.
This reflects growing investor confidence and speculation that such government action could bring significant buying pressure and further institutional adoption.
As of this writing, BTC has fallen back to $93,380 after hitting a new all-time high, a gain of 40% in just two weeks.
Featured images from DALL-E, charts from TradingView.com
