Did Trump’s Crypto Order Deliver On His Promise Of A Bitcoin Strategic Reserve? | Global News Avenue

President Donald Trump signed this week executive order Establish our dominance in the digital asset market and make the country a global crypto hub. But will the order achieve what Trump says he has accomplished?

one of trump Commitment to the Crypto Industry is to establish a “strategic national Bitcoin inventory.” While the crypto industry is generally excited about orders providing legal protections for crypto users and promises more clarity, some are concerned about a clearly established hub National Bitcoin Inventory.

Bitcoin (btcusd) sold slightly after Thursday’s announcement, though it recovered and was trading near $105,000 in weekend trading.

Confusion surrounding the “National Digital Asset Inventory”

The executive order establishes a working group to provide regulatory clarity on a number of issues, including the “potential creation and maintenance of a national digital asset inventory.”

This wording caused some confusion. First, the executive order only discusses the exploration of “potential” inventories. Second, the language in the executive order is not specific to Bitcoin, but instead refers to inventories of “digital assets.”

It also mentioned the possibility that this stockpile was drawn from the government’s existing cryptocurrency, i.e. it had been accumulated from various enforcement actions, rather than the government trading cryptocurrencies. strategic petroleum reserves.

Alex Thorn, head of Galaxy Digital Research, posted on X. According to data shared by Thorn in his X post, the inventory is primarily composed of Bitcoin rather than alternative digital assets.

Others worry that the path to creating a Bitcoin inventory may not be entirely without obstacles.

“As I have always said, we are going to need legislation for a ‘real’ (strategic Bitcoin reserve), this is not going to pass.” Castle Island Ventures partner Nic Carter tweeted.

Despite the executive order, the odds of a strategic Bitcoin reserve occurring in the United States this year have dropped to 61% from a peak of the past day, according to prediction market PolyMarket.

Protection for cryptographic users and regulatory clarity

That said, the cryptocurrency industry could also gain fuel through executive orders.

Coin Center Executive Director Peter Van Valkenburgh posted on X Thursday.

The cryptocurrency industry has often criticized the SEC for its lack of clarity on regulations and its enforcement-driven approach. Some of their grievances may have begun to be remedied.

For example, after the execution order was signed, the SEC revoked a controversial crypto accounting rule called Staff Accounting Bulletin No. 121 (SAB 121), which effectively made it impractical for traditional banks to act as custodians for Bitcoin.

“SAB 121 is disastrous for the banking industry and will only stunt American innovation and the advancement of digital assets,” Republican Sen. Cynthia Lummis of Wyoming posted in The X.