📱
How Will the US Bitcoin Reserve Work, Exactly?Bloomberg reports that with a March 6 executive order, President Donald Trump created a strategic Bitcoin reserve, effectively entrenching Bitcoin’s legitimacy as a mainstream financial instrument.📄With the same executive order,
Trump also created a
government stockpile for
all other digital coins the government holds. The long-awaited moves
didn’t result in
investor euphoria, however: the
price of
Bitcoin and most other tokens
dropped sharply after the executive order.
📊Bitcoin isn’t issued by a
government, proponents say a
strategic reserve could act as a
hedge against
instability in the traditional financial system, such as
dramatic drops in the value of the
US dollar.
Trump’s artificial intelligence and crypto “czar”
David Sacks also noted
Bitcoin’s huge appreciation over the years, implying the
reserve would create
value for the country.
📉The
exact amount of US government
holdings is
unclear, but according to the blockchain analytics provider
Arkham, the government owns about
198,
000 Bitcoin, as well as a
slew of other coins, including
Ether and
USDT. The company estimates the total value of all
US government crypto holdings is
more than $
16 billion.
Bitcoin accounts for the majority of that sum, at about $
15.8 billion.Read full:
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© Иқтисодий шарҳ
© Economic Review
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