Miguel Afonso Caetano on Nostr: "The president has signed an executive order to “promote US leadership in digital ...
"The president has signed an executive order to “promote US leadership in digital assets” and this month, crypto and AI tsar, venture capitalist David Sacks, laid out plans for upcoming legislation.
Enthusiasts are particularly excited by the prospect of a national bitcoin stockpile, which would cement endorsement of the asset by the US government, and is likely to push its price even higher. “One of the first things we’re going to look at is the feasibility of a bitcoin reserve,” Sacks said.
But how such a reserve would work, and what it would mean for bitcoin, is unclear. And would taxpayers be left holding the bag if — or when — prices fall? The collapse of the high-profile exchange FTX in 2022 caused a wave of bankruptcies and investors to sell off cryptocurrencies.
Some are already worried: prominent US hedge fund Elliott warned recently that Trump’s embrace of crypto will lead to an “inevitable collapse” that “could wreak havoc in ways we cannot yet anticipate.”"
https://ig.ft.com/trump-bitcoin-reserve/
#USA #Trump #Crypto #Cryptocurrency #Bitcoin #BitcoinReserve
Enthusiasts are particularly excited by the prospect of a national bitcoin stockpile, which would cement endorsement of the asset by the US government, and is likely to push its price even higher. “One of the first things we’re going to look at is the feasibility of a bitcoin reserve,” Sacks said.
But how such a reserve would work, and what it would mean for bitcoin, is unclear. And would taxpayers be left holding the bag if — or when — prices fall? The collapse of the high-profile exchange FTX in 2022 caused a wave of bankruptcies and investors to sell off cryptocurrencies.
Some are already worried: prominent US hedge fund Elliott warned recently that Trump’s embrace of crypto will lead to an “inevitable collapse” that “could wreak havoc in ways we cannot yet anticipate.”"
https://ig.ft.com/trump-bitcoin-reserve/
#USA #Trump #Crypto #Cryptocurrency #Bitcoin #BitcoinReserve