It looks like they are trying hard to get the votes of all the Bitcoin supporters. That's a promise that seems to be so good to be true after all the bashing against Bitcoin from Day 1 through a long time.
Cheaper transfer and non-taxable? Whew! That's going to raise a lot of eyebrows especially those who are working in the government. I'd like to see Gary Gensler of SEC still there when all of this happens. Well, that's if RFK Jr. wins the presidency.
I'd also like to see how Donald Trump could much this offer. It's so sweet but it's hard to believe if it's real and will materialize.
It's too good to be true. At current market prices, such a reserve would cost the US a hefty investment of $264 billion. National debt is sitting at around $35 trillion, making this impossible. The country needs to fix spending issues first, before considering having its own BTC reserves. Once national debt is off the picture, then we can talk about backing the USD with BTC and whatnot.
At least, we know Trump won't be as hard against crypto as Biden. The current administration has been all about fierce regulations and crackdowns on the industry. Back then when Donald Trump was president, things were going along smoothly for crypto in America. SEC chairman Jay Clayton wasn't as "hostile" as Gary Gensler. Crypto voters will definitely support Trump in these elections. Hope he wins back the White House to make America the cornerstone of crypto innovation.