qinbafrank
qinbafrank|Mar 07, 2025 00:55
It seems that the key points of the encrypted tsar's tweet and the Bitcoin strategic reserve administrative order signed by Trump are as follows: 1. The 200000 bitcoins currently held by the US government (previously confiscated) will no longer be sold in the future as initial capital for the Bitcoin strategic reserve. It can be considered as fulfilling the previous promise that the government's Bitcoin will not be sold. 2. As for the future plan for the US government to reserve more Bitcoin, it would be up to the Secretary of the Treasury and the Secretary of Commerce to study and formulate a budget, but without incurring incremental costs for taxpayers. It depends on where to obtain the additional funds 3. The executive order also established a US digital asset reserve, which includes digital assets other than Bitcoin confiscated in criminal or civil litigation. But apart from assets obtained through confiscation procedures, the government will not acquire other assets for reserve purposes. Just not selling what you already have, not promising to buy more. Weaker than expected, the market is unhappy.
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