A financial newsletter keeps the US bitcoin reserve for eyewipe-but it formulates friendlier
- The Bitcoin reserve is financed with around 200,000 BTC, which come from the courtes that are arranged in court, so that no taxpayers are used.
- Trump’s developing attitude towards cryptocurrencies now includes the orientation of his “crypto summit” in the White House and the establishment of a fixed inventory of digital assets.
The Bitcoin course crashed according to Trump’s implementing regulations for the establishment of a strategic BTC reserve. While the measure was supposed to be a milestone of state financial policy, it apparently backfired.
The BitcoINURS does not care about Trump’s announcements
The cryptom market reacted negatively to the news, and the Bitcoin course fell by up to 5.7 %after the arrangement was signed. A few hours after the announcement, the BTC course fell to $ 84,707. Market analysts stated that it is not clear how the reserve beyond the BTC, which is already in the hands of the US government, is to be financed.
The online financial postille “Kobeissi Letter” has been announced expressed:
“No explanation of how the reserve is to be financed, apart from the Bitcoin that are already in the hands of the United States. It is simply a promise not to sell what you already have. ”
The newsletter describes the whole thing as a clear “Sell the News” mesh because it has nothing to do with the “reserve” that was expected.
In order to illustrate the context, David Sacks, responsible for cryptocurrencies and AI in the White House, said that the reserve would consist of Bitcoin, which was confiscated by criminal and civilian law confiscation- CNF. Sacks posted on X:
“The reserve is capitalized with Bitcoin, which are owned by the Federal Government and which have been confiscated in the context of criminal or civil law enforcement proceedings. This means that taxpayers will not cost a cent. “
The US government has around 200,000 BTC in its possession, which have been confiscated. According to this new policy, these assets are kept and not sold as a strategic reserve. Sacks:
“The USA will not sell Bitcoin that is stored in the reserve. They are kept as a value preservation means. The reserve is like a digital Fort Knox for cryptocurrency, which is often referred to as “digital gold”.
Missed opportunities & market reaction
The implementing regulations also require a complete examination of the state Bitcoin reserves. As Sacks found, around 195,000 BTC have been sold for only $ 366 million in the past ten years – today it was around 17 billion if they had been kept.
While the purchase order prepares the pump for future business, he does not provide for the government’s immediate purchases. Rather, the Finance and the Ministry of Commerce gives them space to find “contestation-neutral” ways to procure more Bitcoin. Perhaps this inactivity has something to do with the disappointment of investors and the drop in prices.
Trump’s opinion on BTC has changed significantly over time. After he had originally dismissed the digital currency as fraud, he is now one of its most decisive political defenders. His regime has held up actively restricting regulations and asked the congress to issue laws that benefit the cryptocurrency.
As part of this crypto-friendly initiative, Trump welcomes business leaders on Friday for his “crypto summit” in the White House-CNF. The implementing regulations also provide for the establishment of an independent US Digital Asset Stockpile in order to store other confiscated cryptocurrencies such as XRP, Solana and Cardano.
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