Donald Trump To Establish A National Bitcoin Reserve? Pros Vs Cons Compared
President-elect Donald Trump is considering a proposal to establish a national Bitcoin reserve, a move that could intertwine cryptocurrency with U.S. fiscal strategy.
What Happened: Cryptocurrency executives are rallying behind the idea, advocating for the U.S. government to acquire billions of dollars’ worth of Bitcoin as a long-term asset, according to a report by The Washington Post on Wednesday.
Proponents argue that Bitcoin‘s (CRYPTO: BTC) value growth could help pay down the national debt, which now exceeds $36 trillion.
However, critics warn of significant risks, citing the volatility of crypto markets and potential taxpayer exposure.
The plan has drawn mixed reactions.
Trump has signaled openness to the idea, with a promise to stop federal sales of seized Bitcoin and instead build a strategic reserve.
Speaking at a summer conference, Trump stated, “For too long, the government has violated the cardinal rule that every Bitcoin owner knows by heart: Never sell your Bitcoin.”
He added that the reserve would become a “permanent national asset to benefit all Americans.”
What Supporters Are Saying
Supporters claim that holding Bitcoin could be a transformative fiscal tool.
Cody Carbone, president of the Digital Chamber lobbying …
About The Author
