The creation of a cryptocurrency advisory council and the possible implementation of a strategic Bitcoin reserve represent a significant shift in US crypto policy. All this, under the Trump administration.
The government of donald trump prepares to launch a cryptocurrency advisory council, which could play a crucial role in formulating regulatory policies and establishing a possible strategic Bitcoin reserve in the United States.
High-profile companies like Coinbase, Ripple Labs and the venture capital firm are vying for a spot on this council, which could operate under the White House’s National Economic Council or as an independent entity.
At the North American Blockchain Summit, Dennis Porter, Bitcoin advocate and co-founder of Satoshi Action Fund, highlighted the strategic importance of this initiative. Porter compared Bitcoin’s potential reserve to historical milestones such as the Louisiana Purchase and the acquisition of Alaska, arguing that the US government could take the opportunity to acquire Bitcoin as a strategic asset at competitive prices before other nations take the lead.
Coinbase (COIN) CEO Brian Armstrong recently met with Trump, according to a source familiar with the matter, confirming a Wall Street Journal report on Monday. It was not clarified what they argued about. The source added that Coinbase, the largest US cryptocurrency exchange, was also interested in joining the board.
The antecedent
Senator Cynthia Lummis, promoter of this idea, suggested converting part of the Treasury Department’s gold reserves into Bitcoin as a starting point for this strategy.
donald trump president 2.jpeg
In turn, Anthony Pompliano, investor and defender of the crypto asset, warned of a “race between sovereign powers” to acquire Bitcoin and encouraged the United States to act quickly to incorporate this technology into its balance sheet.
However, not everyone shares the optimism. Mike NovogratzCEO of Galaxy Digital, considers it unlikely that the Trump administration will establish a strategic reserve, although he predicted that, if implemented, the price of Bitcoin could skyrocket to $500,000 in the short term. Meanwhile, the possibility of the United States adopting this approach could significantly change the global crypto market landscape.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
