This executive order fulfills his campaign promise. That's it. I don't believe there will be any follow through. As much as I like what this administration has been doing, I do not believe they will support BTC anymore than simply keeping ownership of the BTC already in their possession. At least they will not sell the BTC held by the US government.
Additionally, It is expected that Quantum computing can create its own better and more secure Crypto Currency. Secondly, if another Crypto Currency similar to BTC (limited quantity, secure)can be produced what makes BTC so special other than being the first?
Finally, BTC has not yet been adopted for use as a form of exchange by the world in general. This lack of adoption is concerning because then it is not fulfilling its use case.
The real use case was never to actually be used as a form of exchange. It was to extract and hoard value from the rest of the world the same way Silicon Valley has extracted value. The currency use case was simply to gaslight and use FOMO to get adoption and thereby control over transactions to extract digital tax outside of state control. The same reason why all these tech bros and PayPal mafia cronies only invest in payments and fintech platforms when they bother to invest in emerging markets/developing countries.
No sane economist would actually argue that an asset like bitcoin is actually suitable for use as an actual currency. Hence SEC has classed it as an asset. It doesn't function like a currency - the vast majority of holders just sit on it, it has no velocity, and there is a maximum possible supply.
If you're not a bagholder now, best bet is to stay as far away from the asset as possible (unless you have $$$ to buy whole BTC). It's been completely taken over by actual gangsters at this point as their asset of choice.
Does anyone ever consider the possibility that the PTB are setting up Hodl'ers for the big rug pull on BTC that will cement the public psyche to distrust anything other than the soon to come goverment controlled crypto? How can anyone know BTC is bulletproof if we don't even know who it's creator was? How about Quantum threats etc...I could list a dozen more legitimate outside the box threats.
Is your IQ single digits? This has been answered many, many times. If you aren't smart enough to do a little research on your own, you aren't smart enough to have someone explain it to you again.
Anthony, maybe we each watched a different interview with Bessent. You proclaim, "It sure sounds like the United States is going to continue buying more bitcoin over time."
I found no indication of that intention whatsoever. Instead, what I heard the Treasury Secretary express was willingness to listen and not interfere. He also said "stop selling" twice. It may be difficult at times to discern whether Trump and his cabinet members are speaking honestly and when they're blowing smoke, but, be assured, there's a lot of the smoke blowing occurring.
Besides my disdain for bitcoin and all crypto as possibly the most complete, unabashed fraud ever foisted upon the public, the recent price drop is probably nothing compared to what happens when some of the whales (and politicians hiding money) pull the plug.
Like Steve Carell as Mark Baum in "The Big Short" said about subprime losses being contained, I contend, Zero. Zero. There is zero chance that the U.S. Treasury is going to be buying any more bitcoin.
Maybe you don't understand the phrase, "budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers."
To my mind, untrained in Wall Street parlance, that sounds very much like, "not gonna happen."
The "strategic bitcoin reserve" is already a loser from the word, "go."
'IF' whales sell the price would drop and other people will scoop up the cheap Bitcoin.
If you hate Bitcoin so much you must also hate gold as they both have the same use case as far as store of value goes. Bitcoin is volatile right now because this asset is still in it's infancy/adoption/distribution phase.
Isn't this the literal opposite of digital freedom that BTC maxi's promised?
Not only is the asset more concentrated than virtually any asset class on the planet (the top 0.01% of wallets hodl 2/3 of supply, and given that those whale holders have multiple wallets, it's suspected that number is closer to 80%), but now that we have governments tying their financial futures to the asset, we should expect another level of whale control and manipulation.
This is great news if you're a bag holder, but it promises literal digital slavery for anyone who is a late adopter (the vast majority of the planet).
Pomp is celebrating becoming part of the techno aristocracy lol.
I think that this is a great strategy for U.S Goverment but I think that U.S. is going to start to buy more bitcoins since the end of this year; I think that U.S. should only focus in bitcoin and avoid to invest or buy the other cryptocurrencies, but let's see
So I'd like that my country, México, could do the same to create a Bitcoin Reserve but it's impossible because the politicians of my countries have stolen the public money and don't want to invest to the future
Governments purchasing digital assets is probably worse than anything else they blow money on, of which there are far too many examples. Who can trust an "asset" whose value can rise or fall 5-10% in a day? Bitcoin is for gamblers and morons, so, maybe you're right. Governments may be the perfect marks.
This is a big step for crypto & the USA finally getting into the most prosperous future for our overall freedom! The other great thing is real estate and I have a new book out on Amazon: https://www.amazon.com/dp/B0DYYQ98PP
Great article. Trump is the greatest President in 200 years, and I think he deserves more credit for ending Democrat lawfare against crypto than he is receiving.
This executive order fulfills his campaign promise. That's it. I don't believe there will be any follow through. As much as I like what this administration has been doing, I do not believe they will support BTC anymore than simply keeping ownership of the BTC already in their possession. At least they will not sell the BTC held by the US government.
Additionally, It is expected that Quantum computing can create its own better and more secure Crypto Currency. Secondly, if another Crypto Currency similar to BTC (limited quantity, secure)can be produced what makes BTC so special other than being the first?
Finally, BTC has not yet been adopted for use as a form of exchange by the world in general. This lack of adoption is concerning because then it is not fulfilling its use case.
The real use case was never to actually be used as a form of exchange. It was to extract and hoard value from the rest of the world the same way Silicon Valley has extracted value. The currency use case was simply to gaslight and use FOMO to get adoption and thereby control over transactions to extract digital tax outside of state control. The same reason why all these tech bros and PayPal mafia cronies only invest in payments and fintech platforms when they bother to invest in emerging markets/developing countries.
No sane economist would actually argue that an asset like bitcoin is actually suitable for use as an actual currency. Hence SEC has classed it as an asset. It doesn't function like a currency - the vast majority of holders just sit on it, it has no velocity, and there is a maximum possible supply.
If you're not a bagholder now, best bet is to stay as far away from the asset as possible (unless you have $$$ to buy whole BTC). It's been completely taken over by actual gangsters at this point as their asset of choice.
Dude, great analysis. You nailed it with "actual gangsters."
Does anyone ever consider the possibility that the PTB are setting up Hodl'ers for the big rug pull on BTC that will cement the public psyche to distrust anything other than the soon to come goverment controlled crypto? How can anyone know BTC is bulletproof if we don't even know who it's creator was? How about Quantum threats etc...I could list a dozen more legitimate outside the box threats.
Those two concerns have been addressed many times. I'd bet your other dozen have also.
Is your IQ single digits? This has been answered many, many times. If you aren't smart enough to do a little research on your own, you aren't smart enough to have someone explain it to you again.
Enjoying your 25% loss yet?
What 25% loss? I'm still up about 1200%, lol. Now go back to sleep Karen.
Anthony, maybe we each watched a different interview with Bessent. You proclaim, "It sure sounds like the United States is going to continue buying more bitcoin over time."
I found no indication of that intention whatsoever. Instead, what I heard the Treasury Secretary express was willingness to listen and not interfere. He also said "stop selling" twice. It may be difficult at times to discern whether Trump and his cabinet members are speaking honestly and when they're blowing smoke, but, be assured, there's a lot of the smoke blowing occurring.
Besides my disdain for bitcoin and all crypto as possibly the most complete, unabashed fraud ever foisted upon the public, the recent price drop is probably nothing compared to what happens when some of the whales (and politicians hiding money) pull the plug.
Like Steve Carell as Mark Baum in "The Big Short" said about subprime losses being contained, I contend, Zero. Zero. There is zero chance that the U.S. Treasury is going to be buying any more bitcoin.
https://www.youtube.com/watch?v=_4KrHwvtxrc
Maybe you don't understand the phrase, "budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers."
To my mind, untrained in Wall Street parlance, that sounds very much like, "not gonna happen."
The "strategic bitcoin reserve" is already a loser from the word, "go."
'IF' whales sell the price would drop and other people will scoop up the cheap Bitcoin.
If you hate Bitcoin so much you must also hate gold as they both have the same use case as far as store of value goes. Bitcoin is volatile right now because this asset is still in it's infancy/adoption/distribution phase.
Isn't this the literal opposite of digital freedom that BTC maxi's promised?
Not only is the asset more concentrated than virtually any asset class on the planet (the top 0.01% of wallets hodl 2/3 of supply, and given that those whale holders have multiple wallets, it's suspected that number is closer to 80%), but now that we have governments tying their financial futures to the asset, we should expect another level of whale control and manipulation.
This is great news if you're a bag holder, but it promises literal digital slavery for anyone who is a late adopter (the vast majority of the planet).
Pomp is celebrating becoming part of the techno aristocracy lol.
I think that this is a great strategy for U.S Goverment but I think that U.S. is going to start to buy more bitcoins since the end of this year; I think that U.S. should only focus in bitcoin and avoid to invest or buy the other cryptocurrencies, but let's see
So I'd like that my country, México, could do the same to create a Bitcoin Reserve but it's impossible because the politicians of my countries have stolen the public money and don't want to invest to the future
Governments purchasing digital assets is probably worse than anything else they blow money on, of which there are far too many examples. Who can trust an "asset" whose value can rise or fall 5-10% in a day? Bitcoin is for gamblers and morons, so, maybe you're right. Governments may be the perfect marks.
Cool
This is a big step for crypto & the USA finally getting into the most prosperous future for our overall freedom! The other great thing is real estate and I have a new book out on Amazon: https://www.amazon.com/dp/B0DYYQ98PP
Great article. Trump is the greatest President in 200 years, and I think he deserves more credit for ending Democrat lawfare against crypto than he is receiving.