Yesterday, President Trump signed an Government Order (EO) entitled “Strengthening American Management In Digital Monetary Expertise.”
The doc outlines the methods through which the U.S. authorities will embrace “digital belongings” and assist the rights of residents and companies to interact with “cryptocurrencies” and “blockchain know-how.”
Bitcoin isn’t talked about as soon as within the doc.
Most concerningly, it’s not talked about within the portion of the doc that addresses the potential for the President’s Working Group on Digital Asset Markets (additionally established by way of the EO) to create a “stockpile” of digital belongings.
Right here’s precisely the way it reads:
“The Working Group shall consider the potential creation and upkeep of a nationwide digital asset stockpile and suggest standards for establishing such a stockpile, doubtlessly derived from cryptocurrencies lawfully seized by the Federal Authorities by means of its legislation enforcement efforts.”
Bitcoin is one in every of 17 digital belongings the Federal Authorities has seized.
"stockpile" is jargon which means holding what they’ve, however not essentially shopping for something
in keeping with @arkham, right here's all of the cash that the USG holds over $1m pic.twitter.com/CtLEuP5utA
— Alex Thorn (@intangiblecoins) January 23, 2025
The concept the federal government would maintain onto the 16 different crypto belongings the federal government is holding is each foolish and pointless, as none of these different belongings had been designed to be a retailer of worth, and a bit of them are simply digital variations of the ever-debasing U.S. greenback.
In different phrases, there’s no motive for the U.S. to stockpile digital belongings which might be perpetually shedding worth versus bitcoin. With out even stepping into the options that differentiate bitcoin from the opposite belongings on the record above — like its hard-coded good shortage or its community’s stage of decentralization — one must solely be aware of the truth that no digital asset has ever made subsequent highs versus bitcoin in consecutive bull markets to know why it is sensible to solely maintain bitcoin.
I imply, even somebody whose firm evaluates shitcoins for a residing agrees:
I didn’t donate $12 million to Kamala or price the GOP three extra Senate seats like Ripple did.
However I’m nonetheless gonna attempt to assist @realDonaldTrump and crew perceive why XRP is the poster little one for why we shouldn’t have a nationwide crypto reserve.
Bitcoin Reserve or nothing.
— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) January 24, 2025
So, please President Trump, beef up the bitcoin stockpile by swapping the 16 different digital belongings you’re holding for bitcoin, and let’s name it a day. Certainly, you’ve seen how properly the bitcoin-only method has labored out for President Bukele, with whom you spoke simply the opposite day.
It’s time to point out the world that we perceive that bitcoin is the financial savings know-how and that all the pieces else is, properly, one thing else.
