It all started with an Executive Order...
- President Donald Trump has signed an executive order establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.
President Trump's Executive Order ...
... to create a Bitcoin Reserve has started the process of being codified into law, as Republican in the US Congress draft a bill to permananetly place 200,000 Bitcoin currently held by the US Government at various agencies into a stockpile, which can never be sold?
Strategic Bitcoin Reserve
The newly formed Strategic Bitcoin Reserve will be initially funded using Bitcoin seized through criminal and civil forfeiture proceedings.
SOURCE
Creation of the U.S. Digital Asset Stockpile
Alongside the Bitcoin reserve, the executive order establishes a U.S. Digital Asset Stockpile. This stockpile will encompass digital assets other than Bitcoin, also acquired through forfeiture proceedings.
SOURCE
23 States...
- This measure comes on the heels of legislation in 23 of the 50 United States to adopt Bitcoin as a commodity and incorporate it into Publis Balance Sheets as an Asset.
An amazing time to be alive and into cyotocurrency
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You would think this is all bullish for Bitcoin and cryptocurrency.... you would be wrong.
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Meanwhile Bitcoin price has fallen from 104,000 USD per Bitcoin to 82,000 USD per Bitcoin, and rumors of it's death are being heard again.
source
Why Ripple and Cardano ask the Bitcoiners??
- Some of the Bitcoiners are losing it over the inclusion of these two altcoins in a fund with Bitcoin.
- These two coins are reported to have had huge premines and are centralized
- Hmmm...our President is very transactional, so some assume he got support from RIpple and Cardano teams during the election and this is ...payback...
- This is afterall just an announcement and no laws have been passed to establish or fund anything.
- So far the only thing the Bitcoin Reserve contains will be government confiscated BItcoin and other confiscated altcoins, but Congress hasn't actually passed any laws and Senator Lomus has a bill creating a BItcoin only fund, so everyone really should just watch and wait..
You could make this story up, it's true life fiction
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Trump
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Bitcoin Strategic Reserve
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Etc Etc etc
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Let it ride...
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