https://sputnikglobe.com/20241127/crypto-leaders-urging-trump-to-create-federal-bitcoin-reserve---reports-1121026592.html
Crypto Leaders Urging Trump to Create Federal Bitcoin Reserve - Reports
Crypto Leaders Urging Trump to Create Federal Bitcoin Reserve - Reports
Sputnik International
Leaders of the crypto industry have been calling for US President-elect Donald Trump to create a national reserve of bitcoin digital currency that could help repay the US federal debt, the Washington Post newspaper reported on Wednesday.
2024-11-27T22:28+0000
2024-11-27T22:28+0000
2024-11-28T03:29+0000
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Economists and fiscal experts are wary of this idea, saying that it carries significant risks. They argue that the bitcoin exchange rate is extremely volatile, putting taxpayers' money at risk if the government acquires bitcoin at its current, near-record high and its value ultimately falls. Bitcoin passed $99,000 on November 22 to trade at a new record high. Any plan to fund purchases of cryptocurrency with public money could end up increasing the national debt, as the US government may need to borrow some of the funds on which it would later have to pay interest. Data provided by Arkham Intelligence, a firm that tracks information on cryptocurrency ownership, reportedly shows that the US government already owns just under $20 billion in bitcoin, seized primarily from criminals. Federal officials occasionally sell bitcoin from these reserves, the Post reported. During the 2024 election campaign, Trump promised to keep all of that cryptocurrency and make it the "core" of a new strategic reserve. Trump's return to the White House and the active support of the cryptocurrency lobby may bring major change to the regulation of digital assets in the US, marking the first time the crypto industry receives the open backing of a US administration. Republicans have also long discussed the possibility of creating a strategic bitcoin reserve.
https://sputnikglobe.com/20241112/analyst-warns-dollar-at-risk-as-bitcoin-hits-all-time-high-with-trumps-support-1120862148.html
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trump and crypto market, bitcoin rise, does crypto industry support trump, us cryptocurrency, us regulation of cryptocurrency, us federal debt
trump and crypto market, bitcoin rise, does crypto industry support trump, us cryptocurrency, us regulation of cryptocurrency, us federal debt
Crypto Leaders Urging Trump to Create Federal Bitcoin Reserve - Reports
22:28 GMT 27.11.2024 (Updated: 03:29 GMT 28.11.2024) MOSCOW, November 27 (Sputnik) - Leaders of the crypto industry have been calling for US President-elect Donald Trump to create a national reserve of bitcoin digital currency that could help repay the US federal debt, the Washington Post newspaper reported on Wednesday.
Economists and fiscal experts are wary of this idea, saying that it carries significant risks. They argue that the bitcoin exchange rate is extremely volatile, putting taxpayers' money at risk if the government acquires bitcoin at its current, near-record high and its value ultimately falls. Bitcoin
passed $99,000 on November 22 to trade at a new record high.
Any plan to fund purchases of cryptocurrency with public money could end up increasing the national debt, as the US government may need to borrow some of the funds on which it would later have to pay interest.
Data provided by Arkham Intelligence, a firm that tracks information on cryptocurrency ownership, reportedly shows that the
US government already owns just under $20 billion in bitcoin, seized primarily from criminals. Federal officials occasionally sell bitcoin from these reserves, the Post reported. During the 2024 election campaign, Trump promised to keep all of that cryptocurrency and make it the "core" of a new strategic reserve.
Trump's return to the White House and the active support of the cryptocurrency lobby may bring major change to the regulation of digital assets in the US, marking the first time the crypto industry receives the open backing of a US administration. Republicans have also long discussed the possibility of creating a strategic bitcoin reserve.
