:max_bytes(150000):strip_icc()/GettyImages-2183657650-2aca43f1471d4a6d83975eb85aefc79f.jpg?w=1920&resize=1920,1267&ssl=1 "Trump Launches US Strategic Bitcoin Reserve, ‘Digital Asset Stockpile’ | Global News Avenue")
Trump Launches US Strategic Bitcoin Reserve, ‘Digital Asset Stockpile’
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Key Points
- U.S. President Donald Trump signed an executive order to build U.S. strategic bitcoin reserves for other cryptocurrencies, as well as “digital asset inventory”, but to buy more tokens beyond the goods owned by the federal government.
- The order says the reserve will pass through the capitalization of Bitcoin that the U.S. government already has, and any new purchases require a “budget-neutral strategy.”
- Bitcoin, which reached around $109,000 in January, traded about $89,000 on Friday.
U.S. President Donald Trump signed an executive order on Thursday that established U.S. strategic bitcoin reserves, as well as “digital asset inventory” for other cryptocurrencies, but potential restrictions on buying more tokens beyond the federal government’s own tokens.
Trump has Improved this idea Create such a reserve in the campaign and spark cryptocurrency rally earlier this week by suggesting Four other tokens Can be included in a protected area outside of Bitcoin.
“The Secretary of the Treasury and the Secretary of Commerce should develop strategies to acquire additional government BTC, provided that such strategies are budget neutral and do not impose incremental fees on U.S. taxpayers,” the executive order said.
The order also said the United States would not acquire more inventory assets, i.e. assets confiscated in criminal or civil lawsuits “without further enforcement or legislative action.”
The news initially lowered cryptocurrency, but by early Friday, the price of Bitcoin and what Trump said were four other tokens could fall into losses. Bitcoin (btcusd) reached a height of about $109,000 in January, down about $89,000 for trading more than 1%. Ether (EtherEthusd), XRP ((xrpusd), Solana (Solusd) SOL token and Cardano’s Ada(Adausd) barely changed to 3%.
Investors are waiting for more news Crypto Summit Trump was hosted at the White House on Friday with cryptocurrency executives.
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