Will Donald Trump make America great from Bitcoin’s empire, government has treasury

US President Donald Trump signed an executive order on Thursday, under which the first strategic bitcoin reserve of the US will be made. This decision came in the White House exactly one day before the meeting with officials of Cryptocurrency companies. This reserve will include those bitcoins that the US government has acquired under criminal and civil property seizure. With this, the government will not have to spend extra and there will be no burden on taxpayers.

America has a treasure of bitcoin

According to a Mint reports, the US government has around 200,000 bitcoins, which cost around $ 16.4 billion. Apart from this, the government also has other digital tokens worth $ 400 million. All these properties have been achieved through seizure in criminal and civil matters. Under the order of Trump, full accounting of these digital properties will now be done and they will be included in the strategic reserve.

What is strategic bitcoin reserve?

Strategic reserve is the store that governments keep ready to deal with any serious condition in the supply of important resources. On the same lines, the US government has decided to create this reserve by recognizing bitcoin as a strategic property. In this, the seized bitcoins will be stocked and if needed it can be released in the market.

Digital asset stockpile will also be ready

Trump’s order also talks about creating “US Digital Asset Stockpile”. Apart from bitcoins, other digital properties will also be included, such as Ether, XRP, Solan and Cardano. However, the government will achieve them only through seizure and taxpayers’ money will not be used to buy them. Also, special strategies will be prepared to maximize the value of this fund.

Bitcoin prices fall

However, since this order of Trump, the prices of bitcoin have been seen to fall. On Friday, the price of bitcoin declined by more than 5 per cent and it reached $ 88,20188. Apart from this, the prices of other digital tokens like Ether, XRP, Cardano and Solana also saw a decrease of up to 5 %.

A big announcement may be made at Crypto Summit

At the Crypto Summit to be held at the White House on Friday, President Trump can announce a detailed plan on this strategic reserve and other digital properties. Along with this, he has asked to include five digital assets – bitcoin, ether, XRP, Solano and Cardano – in which their market price is expected to boom.

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