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USA plans massive Bitcoin reserve: We want as much as possible!”
Bo Hines talks about the US Bitcoin reserve under Trump. The government plans to increase stocks without tax costs.
USA plans massive Bitcoin reserve: We want as much as possible!”
Bo Hines, the executive director of the President's Council of Advisers on Digital Assets at the White House, recently explained the US government's plans for the strategic reserve of Bitcoin at the Bitcoin conference in Las Vegas. According to Hines, the United States government wants to find ways to further increase its holdings of Bitcoin. He emphasized: “We want to hold as much as possible” of possible reserves without incurring additional costs for taxpayers. This is done by exploring “budget-neutral ways” to accumulate more Bitcoin.
Additionally, Hines clarified that it is important to distinguish between the Bitcoin strategic reserve and a digital asset stockpile. The latter also includes altcoins for which there is no ban on sales. He also stated that no Bitcoin from the reserve should currently be sold.
Digital currency reserve under Trump
In addition to Bitcoin, other digital currencies such as Ethereum and Solana will also be stored in the new reserve. Against this background, Hines' statements appear to be part of a strategic initiative to act actively and specifically in the area of digital currencies, although the US government has not actively sought ways to expand its holdings in the past.
Market reactions and reviews
Current market developments show that the Bitcoin price recently fell below $90,000 on the Bitstamp trading platform. Market expert Timo Emden reported unfulfilled investor expectations and expressed concerns about uncertainties about the size and implementation of the reserve. Charles Edwards, the founder of hedge fund Capriole Investments, criticized the government's passive stance, noting that the lack of active purchasing means the digital reserve may only include existing Bitcoin holdings.
It is estimated that the US government holds around 200,000 Bitcoin, which at the current rate of around $88,000 per Bitcoin represents a total value of over $17 billion. These holdings could play a significant role in the future financial policy of the United States, especially since Trump took a positive stance towards digital currencies during his election campaign, while the administration of his predecessor Joe Biden took a hawkish approach.
The developments in the digital currency reserve and the reactions to the US government's strategies are significant. It remains to be seen how this initiative will impact the crypto market and global digital currency aspirations.
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