- विज्ञापन -
Washington: Following the announcement of a ‘Strategic Bitcoin Reserve,’ former President Donald Trump declared that his administration is focused on ending the government’s “war on crypto.” Speaking at the Crypto Summit at the White House, Trump sharply criticized the actions of his successor, President Joe Biden, towards cryptocurrencies like Bitcoin and pledged a more favorable stance under his leadership.
“My administration is working to end the federal bureaucracies’ war on crypto, which was really escalating under Biden until the election season,” Trump said. “About five months before the election, he started praising crypto because he realized how many people support and respect it, but I guess it didn’t work out for him.”
Regarding the creation of the ‘Strategic Bitcoin Reserve,’ which Trump signed into law on Thursday, he emphasized that the U.S. government is one of the largest holders of Bitcoin. “Last year, I promised to make America the Bitcoin superpower of the world and the global crypto hub, and we are taking bold actions to fulfill that promise. Yesterday, I signed an executive order to establish our strategic Bitcoin reserve.” According to Trump, the government already holds significant amounts of Bitcoin, which will form the basis of the new reserve.
Trump also criticized the Biden administration for selling off large amounts of Bitcoin. “Unfortunately, in recent years, the U.S. government foolishly sold tens of thousands of Bitcoins, which were worth billions of dollars now, but they sold them, mostly under Biden,” he said.
In addition, Trump stated that he has instructed the Treasury and Commerce Departments to explore ways to acquire more Bitcoin without burdening taxpayers. “The Treasury and Commerce Departments will look into methods for acquiring additional Bitcoin for the reserve at no cost to taxpayers,” Trump noted. “We want no financial burden on the taxpayers. My order also directs federal agencies to assess all crypto assets currently held by the government and find ways to integrate them into the Treasury.”
Alongside the Strategic Bitcoin Reserve, the executive order also established a U.S. Digital Asset Stockpile under the Treasury Department to manage other cryptocurrencies and assets.
