US President Donald Trump introduced an govt order on March 6 to determine a Strategic Bitcoin Reserve.
This order ensures that seized Bitcoin will probably be held in a nationwide reserve and won’t be bought. It might as a substitute operate as a retailer of worth, akin to a “digital Fort Knox.”
The directive assigns Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick the accountability of formulating budget-neutral methods to develop the nation’s Bitcoin reserves with out burdening taxpayers.
The announcement sparked vital dialogue and pleasure inside the crypto group. fomofactorynews has curated how key figures inside the business responded to the milestone under
Trade leaders react
Bitcoin bull and the chairman of Technique (previously MicroStrategy) Michael Saylor welcomed the transfer, describing the Bitcoin Strategic Reserve as a step towards US dominance within the digital economic system.
He added:
“The US now has the world’s largest Strategic Bitcoin Reserve.”
Senator Cynthia Lummis praised the choice, calling it a achievement of Trump’s guarantees and an illustration of his dedication to Bitcoin.
She acknowledged:
“We have gotten the bitcoin and digital asset capital of the world. America is so Again.”
Coinbase CEO Brian Armstrong referred to as the order a landmark choice for each Bitcoin and the broader crypto market. He predicted that G20 nations would take discover and finally observe the US lead.
Armstrong mentioned:
“Unimaginable execution from the Trump administration and a historic second for Bitcoin and crypto! I count on lots of the G20 to take discover, and finally observe America’s management.”
Bitwise CIO Matt Hougan highlighted a number of key implications of the choice. He identified that it considerably lowers the chance of a future Bitcoin ban within the US and will increase the chance that different nations will set up their very own Bitcoin reserves.
Hougan additionally famous that this transfer might speed up Bitcoin adoption globally, as international locations could act shortly to construct their holdings earlier than additional US acquisitions drive up demand.
He concluded:
“I’m undecided how the market will take into consideration this short-term. I’m positive that long-term that is terribly bullish for bitcoin.”
In the meantime, crypto analyst Kanazawa outlined potential methods for the U.S. to develop its Bitcoin reserves with out further taxpayer spending.
His solutions included seizing property by way of judicial means, reallocating gold reserves, redirecting different fiscal revenues, and leveraging unused computing energy or power sources for Bitcoin mining.
