Trump to Designate Cryptocurrency as National Priority and Create Bitcoin Stockpile

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In simpler terms, it means that the newly elected President, Donald Trump, intends to issue an official decree (executive order) that places digital currencies like Bitcoin and others at the top of the nation’s priorities in the United States. This move would potentially create a dedicated role or department within his administration focused on this industry.

The new leadership is considering establishing a Cryptocurrency Advisory Committee and accumulating Bitcoins nationally as part of their strategic planning.

A Significant Policy Shift 

As an analyst, I find this decision markedly strategic, signifying a major policy evolution that elevates the cryptocurrency sector’s influence in shaping governmental policies and decisions. The executive order designating cryptocurrency as a national priority is carefully crafted to steer government agencies towards collaborating with the industry. Furthermore, it appears that this order may initiate the formation of a Cryptocurrency Advisory Council. This council will serve as a voice for the sector’s policy requirements. Notably, industry pundits anticipate Trump to issue multiple executive orders on his inauguration day, addressing various concerns such as de-banking and rescinding a contentious crypto accounting policy that mandates banks to list digital assets as liabilities on their balance sheets.

“JUST IN: US President-elect Trump to designate cryptocurrency as a “national priority.”

This move is considered a major triumph for the cryptocurrency industry, as it has encountered numerous regulatory hurdles and legal actions under the Biden administration. For instance, bodies such as the Securities and Exchange Commission have taken more than 100 enforcement actions against crypto-related businesses in recent times.

A National Bitcoin Stockpile 

The new government is contemplating an order requiring federal departments to reassess their policies on digital assets. This directive might also instruct them to temporarily halt legal disputes related to cryptocurrency. Pausing lawsuits against prominent crypto platforms such as Binance and Coinbase is a significant concern for the sector. Additionally, the new administration is pondering over the establishment of a national Bitcoin reserve, incorporating the government’s current Bitcoin holdings.

The U.S. government currently possesses approximately $20 billion in Bitcoin, amassed through different investigations and regulatory measures. This digital currency has gained momentum since Donald Trump’s election win, partly because of optimism surrounding the prospect of a government-held Bitcoin reserve. Nevertheless, it is important to note that the final details of this executive order may undergo modifications before its release, potentially as early as Monday.

Strong Support From The Industry

Donald Trump has received significant backing from the cryptocurrency sector. This industry, which is influential in Washington, is supported by multiple political action groups. Notable crypto companies like Coinbase and Ripple have been generous donors to Trump’s inaugural committee and will host an Inaugural Crypto Ball, demonstrating their support for Trump. During his campaign, Trump showed interest in cryptocurrency, speaking at several Bitcoin and crypto conferences and pledging to make the U.S. a global leader in this field. Trump also has multiple NFT collections and recently launched a new cryptocurrency project with his sons called World Liberty Financial.

Trump intends to sign multiple decrees, affecting various sectors, shortly after assuming the presidency.

I believe that Donald Trump intends to communicate that America has returned to a dominant position in this sector and is prepared to take charge. This message to other nations is essentially: Proceed with caution, as you may struggle to keep pace.

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2025-01-17 17:06