The U.S. "risks sinning through negligence," Villeroy said in an interview with French newspaper La Tribune Dimanche
Global crypto investment products saw further net outflows of $1.7 billion last week, according to asset manager CoinShares.
US President Trump’s outspoken acceptance of near-term economic hardship has placed risk assets—including Bitcoin (BTC) and the broader crypto market—under mounting pressure. According to a thread by The Kobeissi Letter on X, President Trump’s strategy revolves around tolerating significant “short term pain” in order to drive down inflation and facilitate the refinancing of over $9 trillion in US debt. Will Crypto Survive Trump’s ‘Short-Term Pain’ Strategy? The impact on cryptocurrencies has been immediate and pronounced. While US equities have shed an estimated $5 trillion in market value this year, digital assets have also suffered steep losses. Since President Trump’s inauguration on January 21, Bitcoin (BTC) has declined by approximately -23%, Ethereum (ETH) has tumbled by roughly -43% and the broader crypto market has experienced even more dramatic price drops. Related Reading: Crypto Bull Run Isn’t Over—It’s Just Changing, Says Analyst Although high volatility is nothing new in crypto, the synchronized downturn suggests that crypto assets are not immune to macroeconomic forces. The Kobeissi Letter adds, “Based on our research, President Trump made this conclusion BEFORE inauguration. However, he began formally articulating it on March 6th. Below is the headline that destroyed investor confidence in 2025. President Trump is no longer the ‘stock market’s President’ (for now).” The Kobeissi Letter points to March 9 as the date President Trump further confirmed his stance by noting that America is in a “period of transition” and that it will “take a little time,” implying a willingness to tolerate near-term market turbulence. During this period, Commerce Secretary Lutnick’s statement on March 6—“Stock market not driving outcomes for this admin”—was followed by Treasury Secretary Bessent’s remark, “Not concerned about a little volatility.” Although The Kobeissi Letter’s analysis notes that the administration’s viewpoint solidified before inauguration, it cites President Trump’s urgent focus on the year 2025, when $9.2 trillion in US debt will either mature or need to be refinanced. The thread states, “First, as we have previously noted, the US is facing a massive refinancing task. In 2025, $9.2 TRILLION of US debt will either mature or need to be refinanced. The quickest way to LOWER rates ahead of this colossal refinancing would be a recession.” Related Reading: Economic Turmoil: Crypto Market Loses 25% Of Value As Recession Worries Mount Beyond debt concerns, The Kobeissi Letter also highlights the administration’s drive to reduce oil prices and the US trade deficit as part of the same economic calculation. Since President Trump took office, oil has fallen by over 20%. “Furthermore, a clearly defined part of President Trump’s strategy has been to LOWER oil prices. Oil prices are down 20%+ since Trump took office. This morning, Citigroup said oil prices falling to $53 would lower inflation to 2%. What would lower oil prices? A recession.” Meanwhile, the administration’s extensive use of tariffs, which The Kobeissi Letter describes as “levying tariffs on almost ALL US trade partners,” is chipping away at GDP growth estimates, further hinting that a deliberate slowdown is in motion. The Kobeissi Letter also notes, “On top of this, DOGE and Trump are attempting to cut TONS of government jobs. These are the same jobs that have accounted for much of the recent job ‘growth’ in the US. Government jobs have risen by 2 million over the last 4.5 years. Cutting these jobs will spur a recession.” DOGE leader Elon Musk appears resigned to short-term declines. Even after Tesla (TSLA) recorded its seventh-largest historical drop on March 10, Musk posted that “It will be fine long-term.” For crypto traders and investors, the “short term pain” scenario by Trump is currently dictating the price action. The question, the analysts from The Kobeissi Letter posit, is whether this will lead to a more favorable economic landscape in the long run. “Is the ‘short term pain’ worth the ‘long term gain’ in President Trump’s economic strategy?”. At press time, the BTC price remained under heavy downward pressure and traded at $82,000. Featured image from Shutterstock, chart from TradingView.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
President Donald Trump’s family DeFi project, World Liberty Financial (WLFI), has officially concluded its WLFI token sale, which raised approximately $590 million, according to details shared on its website. According to Satoshi Club, this achievement places it among the top ten largest token fundraising events in the crypto industry. WLFI WLFI has a total supply […]
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Crypto represents a small but growing part of Russia's $192 billion oil trade, with companies using BTC, ETH and USDT, the sources said.
Around 25% of the tokens have been sold, where its co-founder previously said 63% of the total supply is set to be sold to the public.
Changpeng Zhao has dismissed a Wall Street Journal (WSJ) report suggesting he is discussing an investment deal with the family of US President Donald Trump in Binance.US, the American division of the global Binance crypto exchange. On March 13, Zhao took to X to refute the claims, calling the article an attempt to undermine both […]
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The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Several members of Donald Trump’s cabinet have significant Bitcoin holdings, with their combined investments valued in the millions, according to their financial disclosure reports. These disclosures show that cabinet members have gained exposure to Bitcoin through direct purchases on crypto exchanges and investment vehicles like exchange-traded funds (ETFs). The presence of crypto-friendly figures in the […]
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Representatives for the Trump family reportedly held talks with Binance to take a stake in the crypto exchange giant's U.S. arm.
Bitcoin (BTC) recorded slight gains as the Consumer Price Index (CPI) inflation rate for February came in lower than expected. The softer inflation reading fuelled hopes of interest rate cuts by the US Federal Reserve (Fed), potentially benefiting risk-on assets. Bitcoin Jumps As Inflation Cools According to data from the US Bureau of Labor Statistics, the CPI increased by 0.2% in February on a seasonally adjusted basis, bringing the annual inflation rate down to 2.8%. This figure not only fell below economists’ projection of 2.9% but also marked a decline from January’s 0.5% monthly increase. Related Reading: Bitcoin Faces CPI Shock—But Research Firm Says ‘Buy The News’ Additionally, the core CPI – an inflation measure excluding food and energy prices – rose 0.2% month-over-month, underperforming most forecasts of 0.3%. On an annual basis, core CPI came in at 3.1%, slightly below the 3.2% consensus. The lower-than-anticipated inflation data has reignited investor optimism, with hopes the Fed may pivot to a more dovish monetary policy by cutting interest rates to boost market liquidity. Lower interest rates typically favor risk-on assets like stocks and cryptocurrencies. Following the data release, BTC posted modest gains, climbing from approximately $81,000 to $84,500. Leading memecoin Dogecoin (DOGE) also saw a 2.9% rise in the past 24 hours. It’s worth noting that last month, BTC declined after CPI data came in hotter than expected. Since then, US President Donald Trump’s economic policies – particularly high trade tariffs on countries like Canada, Mexico, and China – have further hindered bullish momentum for digital assets. Earlier this month, BTC experienced one of its sharpest declines, dropping from around $94,700 on March 2 to as low as $76,800 on March 11. Over the same period, the total crypto market cap shrank by approximately $600 billion, falling from $3.2 trillion to approximately $2.6 trillion at the time of writing. BTC Price Projected To Make Recovery While the current bearish trend has dragged BTC and other cryptocurrencies to multi-month lows, industry experts believe digital assets are likely to rebound in the later quarters of 2025. Related Reading: Bitcoin Plays Chicken With Central Banks As Dollar Falls, Says Expert For instance, crypto entrepreneur Arthur Hayes recently suggested that while BTC may face further declines in the short term, central banks will likely resort to quantitative easing to stabilize stock markets – a move that could also help risk-on assets recover their losses. Similarly, recent analysis by CryptoQuant contributor ibrahimcosar forecasts that despite the current downturn, BTC is poised to reach $180,000 by 2026. A weakening US dollar is also likely to hasten the price recovery. At press time, BTC trades at $81,541, reflecting a 0.6% gain over the past 24 hours. Featured image created with Unsplash, charts from TradingView.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The analysts expect clarity on budget-neutral bitcoin acquisition measures from Treasury Secretary Scott Bessent by May 5.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
StarkWare also outlined three further developments as plans for the Starknet Layer 2 to unify Bitcoin and Ethereum escalate.
Bitcoin and the broader crypto market are under significant pressure as macroeconomic concerns fuel investor anxiety. In the past 24 hours, the price of BTC has fallen 2.2%, briefly touching $76,624 before recovering to $81,376 as of press time. Ethereum (ETH), the second largest crypto asset by market cap, also dropped 10% to $1,760, its […]
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A quick history of Trump’s statements and policies on crypto Donald Trump’s stance on cryptocurrency has shifted significantly over time. From 2019 to 2021, Trump expressed skepticism toward Bitcoin (BTC), calling it volatile and a threat to the US dollar, but by 2024, he reversed his stance, pledging support for crypto, proposing a US Strategic Bitcoin Reserve and criticizing the Biden administration’s anti-crypto policies.Early skepticism (2019–2021)July 2019: While in office, Trump tweeted that he was “not a fan” of Bitcoin, calling it “not money” and criticizing its volatility. He also opposed Facebook’s Libra (Diem) project, arguing that tech companies shouldn’t issue currency without a banking charter.June 2021: After leaving office, Trump labeled Bitcoin a “scam” and a threat to the US dollar, advocating for strict regulation to prevent it from undermining the US financial system.Crypto policy during his presidency (2017–2020)Trump’s administration generally took a cautious stance on crypto:Treasury Secretary Steven Mnuchin warned of Bitcoin’s risks and dismissed its long-term viability.The Treasury Department proposed stricter tracking rules for digital wallets, which faced industry backlash.Some Trump appointees supported crypto-friendly banking policies, but these were exceptions to an overall skeptical approach.Pro-crypto pivot in 2024Ahead of the 2024 election, Trump reversed course, pledging to end the Biden administration’s “anti-crypto” stance. He:Declared himself “very positive and open-minded” on Bitcoin.Promised to fire top crypto-skeptic regulators if reelected.Proposed a US Strategic Bitcoin Reserve, vowing to hold on to seized Bitcoin instead of auctioning it off.This dramatic shift set the foundation for Trump’s strategic Bitcoin reserve. The Strategic Bitcoin Reserve: What does it mean? One of Trump’s headline proposals is creating a Strategic Bitcoin Reserve for the US, treating Bitcoin as a national reserve asset akin to digital gold. The plan centers on stockpiling Bitcoin seized in criminal cases rather than purchasing it with taxpayer funds.Key componentsBitcoin as a reserve asset: The US government would officially recognize Bitcoin as a strategic holding, similar to gold in Fort Knox, leveraging its fixed supply and decentralized nature.Seized crypto, not taxpayer purchases: Instead of selling confiscated Bitcoin at auction (as has been past practice), the government would retain it in a central reserve account. Trump’s executive order explicitly states that any Bitcoin deposited “shall not be sold.”No immediate buying spree: The plan does not include direct federal purchases of BTC but allows for “budget-neutral” methods to expand reserves, such as using proceeds from other seized assets.Does the US already have a Bitcoin stockpile? Yes, indirectly. Over the past decade, agencies have seized large amounts of BTC but historically auctioned it off rather than holding it. Trump’s policy would change that, aiming to preserve Bitcoin as a national asset.Supporters believe this could strengthen US finances and ensure the nation isn’t left behind in a Bitcoin-driven global economy. However, critics warn of Bitcoin’s volatility and the risks of integrating a decentralized asset into government reserves. Is the Bitcoin strategic reserve the same as the digital asset stockpile? No, a digital asset stockpile is a separate reserve that would hold other forfeited cryptocurrencies.The Strategic Bitcoin Reserve focuses solely on holding Bitcoin as a reserve asset, while the Digital Asset Stockpile includes other forfeited digital assets such as Ether (ETH) or USDC (USDC), though these assets might be strategically managed or sold over time. Bitcoin, however, would be held indefinitely in the reserve.Notably, Trump’s executive order does not explicitly mention what specific crypto assets will be included in the US Digital Asset Stockpile. Here are the commonalities and differences between the Strategic Bitcoin Reserve and the US Digital Asset Stockpile: Historical context: US government and Bitcoin Trump’s Bitcoin reserve plan builds on a history of US government interactions with cryptocurrency, primarily through law enforcement and asset seizures.Seizures and auctions (Silk Road era)The government’s relationship with Bitcoin began in 2013–2014 with the Silk Road takedown, where federal agents seized 144,000 BTC — one of the largest Bitcoin hauls ever. Rather than holding the coins, the US Marshals Service auctioned them off, setting a precedent for liquidating seized crypto. Did you know? In 2014, venture capitalist Tim Draper bought 30,000 BTC for $18 million, a fraction of its later value.Accumulating and selling crypto holdingsSince then, US agencies have continued seizing and auctioning Bitcoin from various cases, selling nearly 200,000 BTC between 2014 and early 2023, netting around $366 million. However, with Bitcoin’s price surge, those sold coins would now be worth over $18 billion — raising questions about whether the government should have held onto them. Crypto advocates argue this history justifies a hodl policy rather than continued liquidation.Past administration policiesObama administration: Focused on regulating exchanges and curbing illicit use.Trump’s first term: Emphasized enforcement, sanctioning crypto accounts linked to adversaries and targeting tax evaders.Biden administration: Prioritized investor protection and regulatory enforcement, pursuing lawsuits against major exchanges in 2023 and continuing liquidation of seized Bitcoin rather than holding it.The idea of a national Bitcoin reserve was largely absent from previous administrations — until Trump’s 2024 proposal.Global contextOther governments, including China and Germany, have seized Bitcoin, but most — like the US — chose to auction it rather than stockpile it. No major economy has yet integrated Bitcoin into its sovereign reserves. The closest example is El Salvador, which made Bitcoin legal tender in 2021 and began accumulating it. If fully implemented, Trump’s Bitcoin reserve strategy would make the US the first major nation to officially hold Bitcoin as a strategic asset, a significant shift in global crypto policy.Did you know? In 2024, Bhutan’s sovereign investment arm quietly amassed $750 million in Bitcoin holdings through hydroelectric-powered mining, amounting to 28% of the country’s gross domestic product. Potential impact of a Strategic Bitcoin Reserve If the US establishes a Strategic Bitcoin Reserve, the implications could be significant for markets, regulation and financial strategy.Market dynamicsA no-sell policy would remove key selling pressure, as seized Bitcoin would no longer be auctioned off, effectively reducing circulating supply. Some analysts see this as bullish for Bitcoin’s price. Anticipation of Trump’s pro-crypto stance already fueled market optimism in late 2024. However, political shifts could bring uncertainty — future administrations might reverse the policy and sell, making government-held Bitcoin a new market-moving factor.Legitimacy and mainstreamingIf the US holds Bitcoin as a strategic asset, it would mark the strongest government endorsement of crypto to date. This could encourage institutional investors and pressure other nations to consider similar policies. If multiple governments start stockpiling Bitcoin, it could integrate crypto more deeply into global finance, potentially affecting reserve diversification and even international sanctions.Regulatory shiftA national Bitcoin reserve aligns with a broader pro-crypto shift in US regulation. Trump has already signaled a friendlier stance, calling for clearer rules and protecting crypto firms’ banking access. This could reverse past regulatory hostility, making the US a more attractive hub for blockchain businesses.With the government holding Bitcoin, it may also incentivize policies that promote crypto growth, though balancing innovation and consumer protection remains a challenge.Did you know? In 2025, President Trump appointed David Sacks as the White House AI and crypto czar to establish a legal framework for the cryptocurrency industry.Financial strategy and the dollarTrump insists Bitcoin won’t replace the US dollar, but holding it as a reserve asset could complement rather than compete with the dollar — similar to gold. If Bitcoin appreciates, it could strengthen US financial standing, but if it gains too much influence in global reserves, it might challenge fiat dominance over time.While speculative for now, a national Bitcoin reserve could reshape the role of digital assets in global finance. Challenges and controversies Trump’s Bitcoin reserve plan has sparked both enthusiasm and criticism. Key concerns include volatility, political optics and legal hurdles.Volatility and riskBitcoin’s price swings make it a risky reserve asset. Unlike gold or US Treasurys, Bitcoin can drop 10% in a day, raising concerns about exposing taxpayer-linked reserves to major losses. Critics compare it to gambling with public funds, while supporters argue that not holding Bitcoin poses a bigger risk if it continues to appreciate.Political “flip-flop”Trump once called Bitcoin a threat to the dollar, but now champions it. Opponents see this as opportunism, driven by campaign donations from crypto investors rather than a genuine policy shift. Supporters argue it reflects Republican modernization, appealing to a younger, crypto-friendly voter base.Favoring Bitcoin over other cryptocurrenciesBy stockpiling Bitcoin, the government may be seen as picking winners and losers in the crypto market. This could marginalize smaller tokens and raise concerns over market intervention. Some fear Trump’s crypto agenda could slow down broader regulation by making the issue partisan.Legal and logistical hurdlesTransferring seized Bitcoin into a government reserve isn’t simple. Current laws mandate auctions, meaning Congress may need to intervene. Additionally, securing billions in crypto requires top-tier cybersecurity, as hacks or key losses could be disastrous. Lawmakers are also pushing for transparency on how much Bitcoin the government actually holds.Economic strategy uncertaintyHow does Bitcoin fit into US monetary policy? The Federal Reserve does not currently treat crypto as part of its system. If the Treasury holds Bitcoin, would it influence monetary decisions or simply remain an investment? Trump’s policy also bans a US central bank digital currency to prevent competition with private crypto, raising questions about the coherence of US financial strategy.The Bitcoin reserve experiment could reshape US crypto policy — or create new complexities that challenge its long-term viability.
The crypto market is experiencing a significant downturn this week, driven by growing concerns over a potential trade war and disappointment surrounding the US government’s crypto reserve plans. A recent interview with President Donald Trump, in which he hinted at the possibility of a recession, has further unsettled investors. Crypto Market Plummets: XRP, Solana, And Cardano Follow Bitcoin’s Downtrend Bitcoin, the flagship cryptocurrency, has fallen nearly 4% in the last 24 hours, dropping toward the $79,000 mark—a level not seen since mid-November. Ethereum (ETH), has taken a more significant hit with a 10% drop toward $1,860, price not seen since August. Other established cryptocurrencies are also feeling the strain; XRP has declined by 4%, Solana (SOL) by 7%, and Cardano (ADA) by 8% as market participants continue to retreat from riskier assets. The backdrop to this volatility includes the continuous aggressive tariff policies imposed by the new President Donald Trump administration towards countries like Canada, China, and Mexico. Related Reading: Bitcoin Slips Under 200-Day Moving Average – Will The Downtrend Continue? These actions have sparked fears of a trade war, which could exacerbate inflation and increase the cost of imported goods. As a result, investors are gravitating toward safer investments, steering clear of the notoriously volatile cryptocurrency market. In a Fox News interview over the weekend, Trump acknowledged that the aggressive tariff strategy could lead to a recession, describing the country as entering a “period of transition.” This commentary has raised alarms among investors, particularly as Trump did not rule out the possibility of a recession occurring this year. Jake Ostrovskis, an over-the-counter trader at Wintermute, noted that the former president emphasized the likelihood of “short-term economic pain,” amplifying market anxieties. Diminished Risk Appetite And Fed Rate Outlook Adding to the uncertainty is the recent letdown regarding the White House’s plans for a national crypto reserve. Many in the crypto community had anticipated that Trump’s proposal would involve substantial government purchases of Bitcoin and other cryptocurrencies, potentially stimulating demand and boosting prices. However, investors were disappointed when it was revealed that the government would refrain from making additional crypto purchases and would only retain cryptocurrencies seized from illegal activities. Haider Rafique, the global chief marketing officer at crypto exchange OKX, expressed disappointment in the lack of immediate buying pressure from the formalization of a Bitcoin reserve. “While establishing a Bitcoin reserve is a significant milestone, it does not create immediate buying pressure, disappointing those expecting aggressive accumulation,” Rafique stated. Related Reading: Dogecoin To $2 Could Be Next If DOGE Holds This Level: Analyst This downturn in the crypto market also follows a broader trend of declining risk appetite among investors. Since the Federal Reserve announced in December that it would not implement as many interest rate cuts in 2025 as previously anticipated, the crypto market has lost approximately 25% of its total market cap. The optimistic outlook that many had following Trump’s election in November has quickly turned sour, as macroeconomic factors weigh heavily on the market. Featured image from DALL-E, chart from TradingView.com
RLinda, a TradingView crypto analyst who predicted Bitcoin’s previous crash from $91,000, has shared another bearish forecast for the pioneer cryptocurrency. According to the analyst, more pain may be on the horizon for Bitcoin, as it is expected to plummet as low as $73,000. Bitcoin is currently struggling to maintain its former momentum as bearish factors dominate the market. According to RLinda, the cryptocurrency has entered a sell zone after failing to hold above the buying zone above $91,000, thus initiating a false resistance breakdown. Given its current bearish position, the analyst predicts a major crash to new lows for Bitcoin, anticipating an 11% decline to $73,000 soon. Bitcoin Price Set To Crash To $73,000 RLinda revealed that the market’s volatility was partially attributed to Donald Trump’s comments on the Federal Reserve. The market reacted to the US President’s statements with a global shake-up, causing liquidations across the crypto space. Related Reading: Bitcoin 9-Month Cycle Says It’s Not Over, Analyst Shows Where We Are In The Bull Run Additionally, the crypto summit, which was expected to spark bullish sentiment, did little to boost prices. Instead, it prevented the market from turning green. This market downturn has led to profit-taking by investors due to the lack of market and manipulation by big players. Based on the analyst’s price chart, Bitcoin is trading within the $90,000 – $82,000 range. The cryptocurrency dropped to this price after experiencing a slight price pump in late February. Following this increase, Bitcoin lost all of its gains and has since been aiming for a recovery. RLinda warns that if Bitcoin breaks below the $82,000 support level, it could experience a significant price breakdown towards $78,000 – $73,000. The TradingView analyst has highlighted $73,000 as the primary crash target, citing that Bitcoin is currently in a deep correction phase. With global growth temporarily suspended, RLinda revealed that the market is in dire need of liquidity. The analyst indicated that if the market’s growth relies too much on bullish leverage and new buyers without proper correction, it may become unstable. A correction phase, like the one Bitcoin is currently experiencing, may allow liquidity to reset and prepare the market for future upward movements. BTC Key Resistance And Support Zones RLinda has pinpointed key resistance and support levels for the Bitcoin price, sharing insights into potential reversal points. The TradingView analyst asserts that the price zone with the most interest and liquidity is $73,000 – $66,000. Related Reading: Legendary Analyst Peter Brandt Lists 6 Reasons Bitcoin Has Flipped Bullish While a breakdown to $66,000 may seem like a steep decline, it could serve as a critical area for market stabilization. Moreover, further bearish movements would be confirmed if Bitcoin drops below $82,000. Currently, the resistance levels to watch are $89,400, $91,000, and $93,000. Conversely, the support areas to take note of are $82,000, $78,000, and $73,000. Featured image from Unsplash, chart from Tradingview.com
Digital asset investment products continued their losing streak for the fourth consecutive week, with outflows reaching $876 million, according to CoinShares‘ latest report. James Butterfill, head of research at CoinShares, noted that while the rate of capital flight has slowed, investors remain cautious amid the bearish market situation. He said the outflow brought the total […]
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The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
U.S. investors were the most bearish last week, pulling out $922 million from crypto funds, despite President Trump's executive order.
The HUD has held meetings to discuss the possibility of using crypto and blockchain in some of its operations, ProPublica reported.
Trump’s crypto policies, including a strategic bitcoin reserve, have marked a shift, but VCs say key regulatory steps are still needed.
Arkham users can more easily track the wallet transactions of Justin Sun, Vitalik Buterin, Arthur Hayes, Donald Trump and other high-profile figures in the crypto industry.
Bitcoin and other top altcoins like ADA and Ripple’s XRP surged in price minutes after US President Trump issued a statement on a crypto strategic reserve. After languishing below $85k for days, Bitcoin climbed past $90k last Monday and briefly flirted with the $95k level. However, crypto’s hot streak was brief, making Trump’s latest statement a “sell on news” event. From $94,770 on March 3, Bitcoin dipped to as low as $82,681 on March 4. Leading altcoins also slumped with BTC, creating a ripple effect across the broader crypto industry. Today, Bitcoin is trading wildly between $84k and $91k, more than 10k below its all-time high. Related Reading: Billionaire Warns Of Financial Turmoil—Will Bitcoin Save Investors? What’s Up With The Bitcoin Drop? Bitcoin gradually recovered from a low of $83,000 last week and bounced back to $92k days before the planned White House Crypto Summit this Friday, March 7th. Trump’s latest pronouncement did not specify how the reserve shall be funded beyond what was already included in the US’ crypto holdings. Instead of clarity, the statement was just a commitment to retain crypto holdings, with no specifics on funding. The president’s disclosure on a possible stockpile spurred conversations and debates among analysts and critics. Many crypto holders and supporters backed the possible inclusion of SOL, XRP, and ADA. Stock broker and financial commentator Peter Schiff shared his thoughts on the plan, saying the US government should limit the assets included in the pile. He specifically identified “seized assets”, so the government should not buy additional SOL, ADA, XRP, and ETH. Other Crypto Experts Remain Supportive Of Bitcoin As Bitcoin and other leading altcoins struggle, other crypto personalities publicly announce their support for the project. For example, Metaplanet CEO Simon Gerovich argued that even though BTC is retreating, there’s no denying the importance of Trump’s latest executive order. Gerovich stated that this new order authorizes the Secretaries of Commerce and Treasury to draft a strategy for buying Bitcoin without burdening American taxpayers. He stated that the order is more aggressive and provides a plan for acquiring more crypto without affecting the national budget. Possible Paths To Acquire BTC Discussed Gerovich further explains that there are two ways the US government can acquire Bitcoins and set up a strategic stockpile: One, Trump can exercise his presidential power by using the Exchange Stabilization Fund, which has $39 billion in assets. Two, the president can rely on Congressional approval. The second option is in line with Senator Lummis’ Bitcoin Bill, where the US government will acquire 200k Bitcoins annually for five years. Related Reading: Bitcoin ‘Won’t Stop At $150K’ This Year, Research Firm Chief Says Lummis was one of the first personalities to comment on the latest EO. The senator mentioned that the latest order was just the beginning, and encouraged Congress to pass the Bitcoin bill. Crypto law expert MetaLawman also joined the conversations, supporting the Lummis plan by referencing the bill’s Section 5(a)(1)(A) which authorizes the US Treasury to buy 1 million Bitcoins in five years. Featured image from Gemini Imagen, chart from TradingView
Brian Armstrong said recent policy shifts warrant a new push in the U.S., and president's working group chief Hines said Trump is delivering on crypto promises.
An official said Trump was "just giving five examples" of cryptocurrencies that could theoretically be in a crypto stockpile.
Senator Elizabeth Warren has called for greater transparency in David Sacks‘ role as Donald Trump administration’s crypto and artificial intelligence advisor. In a March 6 letter, Warren urged Sacks to prove that he is not personally profiting from policies that favor select digital assets, weaken regulatory oversight, and ease enforcement actions against the crypto industry. Warren stressed […]
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