Trump: The United States Will Become the Cryptocurrency Capital of the World
World
Trump has signed an executive order to create a Bitcoin reserve in the United States. The White House announced the establishment of a "Digital Fort Knox"—a national reserve for Bitcoin and other cryptocurrencies. At the initial stage, there are no plans to purchase cryptocurrencies. A strategic Bitcoin reserve and a digital assets fund will be created in the U.S. President Donald Trump signed the order on Thursday, March 6.
According to the White House's special representative for cryptocurrency issues, billionaire David Sacks, the U.S. government will form its cryptocurrency reserve using assets confiscated during criminal investigations. As a result, the government will not purchase cryptocurrencies to replenish the reserve, meaning that this project "will not cost taxpayers a single cent." Sacks estimates that Washington currently holds approximately 200,000 Bitcoins.
This reserve will be "a kind of digital Fort Knox," he emphasized, referring to the U.S. gold reserve storage facility in Kentucky. According to Sacks, the U.S. will not sell the Bitcoins stored in the reserve; instead, they will be kept as a store of value.
Following this announcement, the price of Bitcoin dropped by 5.7%. The market reacted to the news that the U.S. administration would refrain from actively purchasing cryptocurrencies for national reserves at the initial stage.
A few days ago, Trump announced plans to create a national cryptocurrency reserve in the U.S. "The U.S. crypto reserve will revive this critically important industry after years of corrupt attacks by the Biden administration. That’s why my executive order on digital assets directs the presidential task force to move forward toward a strategic crypto reserve. I will make the United States the cryptocurrency capital of the world," Trump stated.
Trump listed three cryptocurrencies that will be included in the U.S. crypto reserve: XRP from the Ripple platform, the SOL token from the Solana network, and ADA from the Cardano platform. The prices of all three immediately surged by 10-35%.
In January, just days before his inauguration, Trump announced the creation of his own cryptocurrency called $Trump.
This reserve will be "a kind of digital Fort Knox," he emphasized, referring to the U.S. gold reserve storage facility in Kentucky. According to Sacks, the U.S. will not sell the Bitcoins stored in the reserve; instead, they will be kept as a store of value.
Following this announcement, the price of Bitcoin dropped by 5.7%. The market reacted to the news that the U.S. administration would refrain from actively purchasing cryptocurrencies for national reserves at the initial stage.
A few days ago, Trump announced plans to create a national cryptocurrency reserve in the U.S. "The U.S. crypto reserve will revive this critically important industry after years of corrupt attacks by the Biden administration. That’s why my executive order on digital assets directs the presidential task force to move forward toward a strategic crypto reserve. I will make the United States the cryptocurrency capital of the world," Trump stated.
Trump listed three cryptocurrencies that will be included in the U.S. crypto reserve: XRP from the Ripple platform, the SOL token from the Solana network, and ADA from the Cardano platform. The prices of all three immediately surged by 10-35%.
In January, just days before his inauguration, Trump announced the creation of his own cryptocurrency called $Trump.
Powered by Froala Editor