"Digital Fort Knox"
Trump decree to set up “Bitcoin reserve”
Donald Trump has fulfilled a promise made during the presidential election campaign and ordered the creation of a US reserve for cryptocurrencies. On Thursday, Trump signed a decree for the establishment of a "Strategic Bitcoin Reserve", as announced by his crypto commissioner David Sacks.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen The government's reserve is to be compiled from digital currencies seized in criminal proceedings in the USA. Sacks described the reserve as a "digital Fort Knox". According to him, the Department of Commerce and the Department of the Treasury will be allowed to procure additional Bitcoin for the reserve, but at no cost to taxpayers. In addition, other digital currencies such as Ethereum and Solana are to be stored in a further stockpile. However, the US government will not actively look for ways to expand these holdings.
Holdings of around 200,000 Bitcoin
Tens of thousands of Bitcoin units have ended up with the US government, partly as a result of actions against criminals. According to Sacks, the stock is estimated at around 200,000 Bitcoin. At the current exchange rate of more than 88,000 dollars per Bitcoin, this would correspond to a value of more than 17 billion dollars.
During the election campaign, US President Trump had shown himself to be open to digital currencies and gained support in the industry. The administration of his predecessor Joe Biden took a restrictive stance towards digital currencies and warned against money laundering and the risk of destabilizing financial markets. After Trump's election victory, the price of Bitcoin, among other things, rose sharply.
Some disillusionment after details of the reserve
However, initial details on the reserve for digital currencies initially caused some disillusionment among investors on the crypto markets on Friday. Bitcoin fell back below the USD 90,000 mark on the Bitstamp trading platform and last traded at USD 87,864. However, it has already recovered somewhat from the day's low, having slipped below the USD 85,000 mark during the night in an initial reaction to details on the digital currency reserve.
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