CRYPTOREPORTCLUB
  • Crypto news
  • AI
  • Technologies
Tuesday, July 1, 2025
No Result
View All Result
CRYPTOREPORTCLUB
  • Crypto news
  • AI
  • Technologies
No Result
View All Result
CRYPTOREPORTCLUB

Bitcoin as a Strategic Reserve

August 2, 2024
152
0

Over the weekend, former U.S. President and current Republican nominee Donald Trump and a number of lawmakers spoke at the Bitcoin Nashville conference. The biggest piece of news everyone has been talking about was Trump and Sen. Cynthia Lummis' proposals to create a strategic reserve for Bitcoin, but the event also served as Sen. Tim Scott's entry into actual crypto discussion.

You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.

Related Post

FED Chairman Jerome Powell Talks About Interest Rate Cuts and Donald Trump! “If Trump Didn’t Exist…” – Bitcoin (BTC) Moved!

FED Chairman Jerome Powell Talks About Interest Rate Cuts and Donald Trump! “If Trump Didn’t Exist…” – Bitcoin (BTC) Moved!

July 1, 2025

Dollar Index Suffers Worst Crash Since 1991; Bitcoin’s ‘Stochastic’ Points to Possible Drop Below $100K: Technical Analysis

July 1, 2025

BTC conference

The narrative

Lawmakers – and Donald Trump, who of course is hoping to regain the presidency this November – took the stage through the Bitcoin Nashville conference last week to try and appeal to BTC holders for votes or funds.

Why it matters

This is the first major U.S. election where crypto is getting attention from lawmakers and candidates. While it's still not totally clear whether there truly is a significant mass of single-issue crypto voters, what is clear is lawmakers are going to continue to appeal to this crowd over the next few months.

Breaking it down

First up: Former President Donald Trump spoke, saying if he's elected he'll work to appoint friendlier regulators, but his biggest promise may be his suggestion that the U.S. would create a strategic bitcoin stockpile, a promise echoed by Sen. Cynthia Lummis (R-Wyo.) who introduced a bill this week that would support that goal.

"And so as the final part of my plan today, I am announcing that if I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future, we'll keep 100%," Trump said. "I hope you do well, please. This will serve, in effect, as the core of the strategic national bitcoin stockpile."

The former president also acknowledged that "most of the bitcoin currently held by the United States government was obtained through law enforcement action."

"You know that they took it from you. Let's take that guy's life. Let's take his family, his house, his bitcoin. We'll turn it into bitcoin. It's been taken away from you, because that's where we're going now. That's where this country is going to – fascist regime. And so as I take steps to transform that vast wealth into a permanent national asset to benefit all Americans," he said.

The proposals – both from Trump and Lummis – still leave some questions unanswered at the moment, but in a broader sense, they're more just messages to the bitcoin community at the moment, that if Trump becomes president again (and/or if Republicans become the majority party in the Senate), he'll be friendlier toward the industry than in his first term.

Trump also shouted out Vivek Ramaswamy, who briefly also vied for the Republican ticket.

"I've heard from Vivek 175 million people in some form, are involved with this world of crypto and Bitcoin and all of the others, 175 million," he said. "So when they heard that, they said, 'Let's be nice to them, at least until after the election.'"

You can read a partial transcript of Trump's remarks here.

As my colleague Jesse Hamilton reported, this event also served as Sen. Tim Scott's (R-S.C.) first substantial introduction to the crypto community. The Senate Banking Committee's top Republican, Scott – another former contender for the presidency – will become the committee's chair if the GOP retakes the Senate, putting him in charge of legislation that could affect the Securities and Exchange Commission and crypto regulation more broadly. He did not introduce any specific policy ideas during his remarks on stage.

Share212Tweet133ShareShare27ShareSend

Related Posts

FED Chairman Jerome Powell Talks About Interest Rate Cuts and Donald Trump! “If Trump Didn’t Exist…” – Bitcoin (BTC) Moved!
Crypto news

FED Chairman Jerome Powell Talks About Interest Rate Cuts and Donald Trump! “If Trump Didn’t Exist…” – Bitcoin (BTC) Moved!

July 1, 2025
0

FED Chairman Jerome Powell made new statements about interest rates and tariffs. Speaking at the ECB Central Banking Forum, organized annually by the European Central Bank (ECB) and held in Sintra, Portugal, the Fed President said that the US economy is in good shape and inflation is moving towards the...

Read moreDetails

Dollar Index Suffers Worst Crash Since 1991; Bitcoin’s ‘Stochastic’ Points to Possible Drop Below $100K: Technical Analysis

July 1, 2025

Historic Ethereum (ETH) Decision Comes from Bitcoin Mining Company! Wall Street Giant Tom Lee Speaks Assertively!

July 1, 2025

Trump Threatens to Turn DOGE Against Former Chief Elon Musk

July 1, 2025

Renowned Economist Robert Kiyosaki Says, “Bitcoin Seems Very Expensive Right Now, But I’m Still Buying It,” and Explains Why

July 1, 2025
Circle Applies for US Trust Bank License

Circle Applies for US Trust Bank License

July 1, 2025

DEXs capture almost 30% of CEX spot activity in June, setting new record

July 1, 2025

Recent News

FED Chairman Jerome Powell Talks About Interest Rate Cuts and Donald Trump! “If Trump Didn’t Exist…” – Bitcoin (BTC) Moved!

FED Chairman Jerome Powell Talks About Interest Rate Cuts and Donald Trump! “If Trump Didn’t Exist…” – Bitcoin (BTC) Moved!

July 1, 2025
The best Prime Day robot vacuum deals for 2025

The best Prime Day robot vacuum deals for 2025

July 1, 2025
Google Keep no longer supports the Apple Watch

Google Keep no longer supports the Apple Watch

July 1, 2025

Dollar Index Suffers Worst Crash Since 1991; Bitcoin’s ‘Stochastic’ Points to Possible Drop Below $100K: Technical Analysis

July 1, 2025

TOP News

  • Apple details new fee structures for App Store payments in the EU

    Apple details new fee structures for App Store payments in the EU

    540 shares
    Share 216 Tweet 135
  • Buying Art from a Gallery. A Guide to Making the Right Choice

    534 shares
    Share 214 Tweet 134
  • New Pokémon Legends: Z-A trailer reveals a completely large model of Lumiose Metropolis

    564 shares
    Share 226 Tweet 141
  • Bitcoin Bullishness For Q3 Grows: What Happens In Every Post-Halving Year?

    534 shares
    Share 214 Tweet 134
  • Machine learning methods are best suited to catch liars, according to science of deception detection

    533 shares
    Share 213 Tweet 133
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on cryptoreportclub.com is those of writers quoted. It does not represent the opinions of cryptoreportclub.com on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
cryptoreportclub.com covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023-2025 Cryptoreportclub. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Crypto news
  • AI
  • Technologies

Disclaimer: Information found on cryptoreportclub.com is those of writers quoted. It does not represent the opinions of cryptoreportclub.com on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
cryptoreportclub.com covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023-2025 Cryptoreportclub. All Rights Reserved