We really don't know if he will create a Bitcoin reserve for his nation however because of how much knowledge president Donald trump has gotten from cryptocurrency and how it can be beneficiary to the nation he may decide to create a Bitcoin reserve knowing fully well that is a form of creating more revenue for the nation in the future, I see a chance of him creating a Bitcoin reserve for his nation since he has always been talking about Bitcoin and right now he has started making move for crypto coin and since Bitcoin is the best crypto coin in the world he will not create a reserve for another coin apart from Bitcoin, we pray he those that because if he create a Bitcoin reserve for his nation I believe other nations in the world will follow suit and it will make Bitcoin grow more in price and value.
I really don't know why nations are scared of creating a Bitcoin reserve for them self, Bitcoin is a very good investment and if a nation create a Bitcoin reserve and hold for 10 to 20 years they will make a huge amount of profit if they are scared because of Bitcoin volatility then the long term holding they will do has won the Bitcoin volatility and Bitcoin volatility those not stop it from growing check the history of Bitcoin growth.
Topic: Will Trump Create a National Bitcoin Reserve? (Read 1130 times)
Can the President use executive orders to establish the strategic reserve? or does it need to go through the legislative process?
It must be going through a legislative process and got approval by senate. That's why Trump hired Lummis to do this job. This is gonna be a long term process, and must be going through various process. Lummis is gonna help him to ensure Bitcoin bill will be approved.
legendary
Activity: 2576
Merit: 1043
Need a Marketing Manager? |Telegram ID- @LT_Mouse
Will Trump Establish a BTC Reserve?
Polymarket gamblers analysts are giving this an estimated 28% probability of the U.S. creating a National BTC Reserve within Trump’s first 100 days in office.
How about you? What do you think?
Trump announcing Bitcoin to be a Strategic Reserve is already bullish for the crypto industry, but to make it within the first 100 days. I guess that's the catalyst that we are looking for in order for Bitcoin to reach as high as $150,000. Polymarket gamblers analysts are giving this an estimated 28% probability of the U.S. creating a National BTC Reserve within Trump’s first 100 days in office.
How about you? What do you think?
The question is, will it happen? Will he prioritize it among other promises that he said that are non-related to crypto? There's a lot of problems that he must face and give solution like the illegal immigration, and others. With 28% probability, I don't think that he will prioritize that one in the next 100 days. There are way things for him to prioritize with. Let's not expect too much about it I guess for now.
Republicans control both houses but that doesn't mean they can do whatever they want and Democrats don't have a vote. The gap between the two parties in Congress is not too great. Republicans control the House of Representatives with 220 seats and Democrats have 215, while in the Senate, Republicans have only 55 seats and that means they will also have difficulty passing bills in the Senate. Not to mention, not all Republicans support cryptocurrencies. In short, bitcoin reserves would be a controversial issue if any proposal were to be put forward.
Furthermore, if the US government wants to pay off the national debt, they need to boost the economy and that is the only way, not relying on speculative assets to pay off the national debt.
Furthermore, if the US government wants to pay off the national debt, they need to boost the economy and that is the only way, not relying on speculative assets to pay off the national debt.
Yes. I'm aware of that. But who knows? Maybe some Democrats will go along with the idea of a Bitcoin reserve. Those few votes can really make a difference. Even if it doesn't happen, that doesn't mean "it's the end of the world". Bitcoin will carry on as usual like in the past. Just keep "hodling" until BTC goes all the way to $1m.
...
Especially when Republicans control both the House and Senate. These are going to be the most exciting 4 years in the history of crypto. Just you wait and see.
Especially when Republicans control both the House and Senate. These are going to be the most exciting 4 years in the history of crypto. Just you wait and see.
Republicans control both houses but that doesn't mean they can do whatever they want and Democrats don't have a vote. The gap between the two parties in Congress is not too great. Republicans control the House of Representatives with 220 seats and Democrats have 215, while in the Senate, Republicans have only 55 seats and that means they will also have difficulty passing bills in the Senate. Not to mention, not all Republicans support cryptocurrencies. In short, bitcoin reserves would be a controversial issue if any proposal were to be put forward.
Furthermore, if the US government wants to pay off the national debt, they need to boost the economy and that is the only way, not relying on speculative assets to pay off the national debt.
Can the President use executive orders to establish the strategic reserve? or does it need to go through the legislative process?
the president cannot unilaterally issue a policy on the national reserve-- the bill would need to go through legislative debate and that would involve the fed, and other relevant agencies. that's why trump's plan to create a national reserve with bitcoin is not a near-term possibility because it would require further debate by lawmakers and many other parties, until it is approved by a majority of lawmakers and then the bill could be implemented.
Well, it's an interesting idea. But Mr. Trump has only been the president little more than 48 hours, so... we will see... the future has the answer.
With Billions wasted on war to support countries they shouldn't have in the first place, you think they are broke to buy Bitcoin at that price? I don't want to say you are wrong and I can't say I'm right since Bitcoin is about speculations but if I'm sincere with you, Bitcoin reserve can be done and there is going to be a place where liquidity will be drawn without causing chaos in the economy, they have been doing this for long, they can do it again.
The problem that is going to be there is convincing millions of non binary money investors to look into Bitcoin. My mind is telling me a alternatively that what if these Meme coin he launched was to convince the government the benefits of having Bitcoin as a national reserve? This is going to be a great move but you know you can't predict politicoans because you don't know things they might be capable of doing next but I'm still sure it's not about the liquidity.
The problem that is going to be there is convincing millions of non binary money investors to look into Bitcoin. My mind is telling me a alternatively that what if these Meme coin he launched was to convince the government the benefits of having Bitcoin as a national reserve? This is going to be a great move but you know you can't predict politicoans because you don't know things they might be capable of doing next but I'm still sure it's not about the liquidity.
Well, I think the FED will start printing money to buy more Bitcoin. Then, it can use said BTC to grow its reserves. Once prices go all the way to the moon, the government can sell the BTC to help pay off the "National Debt". Rinse and repeat.
With how determined Trump is to restore the American economy, I think there's no turning back now. Convincing Congress to build a national reserve for Bitcoin should be a no-brainer. Especially when Republicans control both the House and Senate. These are going to be the most exciting 4 years in the history of crypto. Just you wait and see.
Can the President use executive orders to establish the strategic reserve? or does it need to go through the legislative process?
the president cannot unilaterally issue a policy on the national reserve-- the bill would need to go through legislative debate and that would involve the fed, and other relevant agencies. that's why trump's plan to create a national reserve with bitcoin is not a near-term possibility because it would require further debate by lawmakers and many other parties, until it is approved by a majority of lawmakers and then the bill could be implemented.
Most national reserves are managed by central banks. In the United States, the Fed is the national reserve management agency of the United States and is an independent organization and not subject to the control of the United States government. So Trump or any politician who wants to add bitcoin to the national reserves would need to bring the proposal to Congress for a vote.
It is safe to say that there is no other viable solution than convincing the parliament and needless to say, we all know how time consuming and difficult that will be. To be fair, a bitcoin reserve strategy could still become a reality, but it would take a long time and possibly even decades.
I want to be clear about one thing: The United States has never had any plans to include bitcoin in its national reserves, nor has there been any formal discussion about it. This is just an idea posted by a senator on social media and cannot be considered a plan.
However, the problem is that making bitcoin a reserve of the country is not easy because as you said there will be many twists and turns that must be gone through and of course it will take a long time because certainly not all American officials agree with this, especially opposition politicians will definitely put up resistance that makes this effort fail.
Moreover, the Fed also emphasized that the US central bank will not explore storing reserve assets in the form of Bitcoin. The FED also dismissed the possibility of storing Bitcoin reserves on the grounds of legal constraints. So here we can see that the Fed is not allowed to own Bitcoin. The Fed Act is also final and they do not want any changes to the law. Even if this is proposed in Congress, the Fed will still fight because it does not want any changes to the law at the Fed.
Moreover, the Fed also emphasized that the US central bank will not explore storing reserve assets in the form of Bitcoin. The FED also dismissed the possibility of storing Bitcoin reserves on the grounds of legal constraints. So here we can see that the Fed is not allowed to own Bitcoin. The Fed Act is also final and they do not want any changes to the law. Even if this is proposed in Congress, the Fed will still fight because it does not want any changes to the law at the Fed.
Trump officially became president and signed a series of executive orders on day one submitted by the Republican Party, but none of them were related to cryptocurrencies, let alone bitcoin reserves. That shows that cryptocurrencies are not a big concern for them, bitcoin reserve plans are becoming more and more far-fetched and unrealistic.
US doesn't have enough money/liquidity at the moment to buy @ $100k a bitcoin reserve, so Trump will need to increase their debt ceiling first.
With Billions wasted on war to support countries they shouldn't have in the first place, you think they are broke to buy Bitcoin at that price? I don't want to say you are wrong and I can't say I'm right since Bitcoin is about speculations but if I'm sincere with you, Bitcoin reserve can be done and there is going to be a place where liquidity will be drawn without causing chaos in the economy, they have been doing this for long, they can do it again.
The problem that is going to be there is convincing millions of non binary money investors to look into Bitcoin. My mind is telling me a alternatively that what if these Meme coin he launched was to convince the government the benefits of having Bitcoin as a national reserve? This is going to be a great move but you know you can't predict politicoans because you don't know things they might be capable of doing next but I'm still sure it's not about the liquidity.
At the moment (my feeling) I believe U.S have descent amount of bitcoin in their stock which I believe more than 150.K. .at the moment.
Trump would make his promise because he doesnt like war. Crypto better than war.
Trump would make his promise because he doesnt like war. Crypto better than war.
Within this year we will know if Donald Trump, will do the talk or it would be one of those fake promises that politicians make to us to get our votes. One thing is for sure that the talk of Bitcoin reserves has gone beyond America, alone,, other countries are in different stages of implementing it but I have a feeling that American decision under Donald Trump, whether to have a Bitcoin reserve or not will determine how far most of the countries that are showing interest will go. Having a Bitcoin reserve in America, is way more than what the president wants, so Trump, might make a move for it but I believe that it's not enough to guarantee the reserve in the US. But it will be nice to see Donald Trump, to live up to his promises by advocating for it. If by any chance their congress doesn't pass it, nobody can blame him for not living up to his campaign promise about Bitcoin reserve.
His term is four years long and he has more important tasks to deal with first, so if there is no proposal for a bitcoin reserve this year, we should not rush to conclude that he is a broken promise.
Even if there is no proposal for a bitcoin reserve and Trump does not mention it, we should not blame him. Because I think that, as a president, when he wants to put forward a proposal or an idea, he will at least consider how many people will support that idea and what the chances of success are . He cannot make rash proposals without the support of allies or Congress because that would just waste everyone's time. Don't be too harsh and quick to blame politicians just because they can't deliver on 1 or 2 of their promises because they can't decide everything on their own, they also need the consensus of other agencies and politicians .
The topic of Bitcoin reserves is a hot topic but if you notice , no country was discussing this idea until Trump mentioned it and with his victory, new countries started coming up with the same idea. So if the United States fails in this , it is no surprise that other countries will soon abandon the idea .
Many have jumped to the conclusion that when Trump promised that he would make Bitcoin a reserve currency he had the authority to make it a reality in a short period of time. What he said a while ago was just political talk - we can't be sure it will be done or not - and I doubt it. The plan still needs to be discussed further in Congress and then the Fed, etc., it's just too complex and lengthy a process to make Bitcoin a reserve currency, and in the end it's just a political promise.
Within this year we will know if Donald Trump, will do the talk or it would be one of those fake promises that politicians make to us to get our votes. One thing is for sure that the talk of Bitcoin reserves has gone beyond America, alone,, other countries are in different stages of implementing it but I have a feeling that American decision under Donald Trump, whether to have a Bitcoin reserve or not will determine how far most of the countries that are showing interest will go. Having a Bitcoin reserve in America, is way more than what the president wants, so Trump, might make a move for it but I believe that it's not enough to guarantee the reserve in the US. But it will be nice to see Donald Trump, to live up to his promises by advocating for it. If by any chance their congress doesn't pass it, nobody can blame him for not living up to his campaign promise about Bitcoin reserve.
legendary
Activity: 2996
Merit: 1136
Leading Crypto Sports Betting & Casino Platform
Trump is a business man that is why he invests his money in different places and that is why he invested in Bitcoin because he realizes that Bitcoin has a lot of potential for the future.
We have no evidence that he has invested in bitcoin so far. The only information we have is that according to ARKM his wallet only contains ETH and a lot of memecoin.
Also, a news that is shaking the crypto market today is that the new US president has created a memecoin named after himself, $TRUMP
. This is crazy and there is a lot of controversy about it. 
But he cannot decide alone about the reserve currency of a country or the whole world. Gold has been used as a reserve currency since ancient times and then the dollar started to be reserved. But suddenly not everyone will accept Bitcoin as a reserve currency because many countries still make Bitcoin illegal in their country. Although it is expected that all countries will legalize Bitcoin in the future. But no one can say from how many decades it might start being used as a reserve currency
Even though as president, Trump cannot and does not have the authority to decide to put bitcoin into the national reserve. What I wonder is that people who pay attention to US politics know this very well, but many pretend not to know and hope for a miracle to happen.
I also tried to spend time researching but found no information in the US constitution that allows Trump to make bitcoin a reserve without going through Congress and the Federal Reserve. The only way he can do that is to convince Congress and do you think that will be easy?
US doesn't have enough money/liquidity at the moment to buy @ $100k a bitcoin reserve, so Trump will need to increase their debt ceiling first.
Trump is a business man that is why he invests his money in different places and that is why he invested in Bitcoin because he realizes that Bitcoin has a lot of potential for the future. But he cannot decide alone about the reserve currency of a country or the whole world. Gold has been used as a reserve currency since ancient times and then the dollar started to be reserved. But suddenly not everyone will accept Bitcoin as a reserve currency because many countries still make Bitcoin illegal in their country. Although it is expected that all countries will legalize Bitcoin in the future. But no one can say from how many decades it might start being used as a reserve currency
Can the President use executive orders to establish the strategic reserve? or does it need to go through the legislative process?
Most national reserves are managed by central banks. In the United States, the Fed is the national reserve management agency of the United States and is an independent organization and not subject to the control of the United States government. So Trump or any politician who wants to add bitcoin to the national reserves would need to bring the proposal to Congress for a vote.
It is safe to say that there is no other viable solution than convincing the parliament and needless to say, we all know how time consuming and difficult that will be. To be fair, a bitcoin reserve strategy could still become a reality, but it would take a long time and possibly even decades.
Moreover, the Fed also emphasized that the US central bank will not explore storing reserve assets in the form of Bitcoin. The FED also dismissed the possibility of storing Bitcoin reserves on the grounds of legal constraints. So here we can see that the Fed is not allowed to own Bitcoin. The Fed Act is also final and they do not want any changes to the law. Even if this is proposed in Congress, the Fed will still fight because it does not want any changes to the law at the Fed.
Trump already has the richest man in the world by his side (Elon Musk). He can use his own money to buy some BTC and add it to the country's reserves. Or Mr. Musk can simply pay off the "National Debt" and solve America's issues once and for all.
There's no excuse to keep the US in debt now. Economic prosperity can be achieved. If it doesn't happen, it's because Trump and his team wanted it to keep it that way. We will have to see what happens within the next 4 years. I know for sure that Bitcoin will survive with or without the US (or any other country's) support. That's the beauty of decentralization.
There's no excuse to keep the US in debt now. Economic prosperity can be achieved. If it doesn't happen, it's because Trump and his team wanted it to keep it that way. We will have to see what happens within the next 4 years. I know for sure that Bitcoin will survive with or without the US (or any other country's) support. That's the beauty of decentralization.
It will survive, but it won't be going that well adoption-wise if that is the case.
We are now in the position where all stars are aligning, basically, to make this big push for Bitcoin globally all over the world.
And it would be good if this road would be followed, not forgotten or forbidden for everybody.
It's going to be funny if they are going to add Seize Bitcoin to what they want to reserve. What is going to be the objective reasons why the Bitcoin were seized and jailed the silk road guy, for their own benefit and what about the victims of the loss Bitcoin to the scams. If there is going to be a reserve which nobody is sure of, Trump will buy a new fresh Bitcoin from one of their recognize exchange which is Coinbase but personally, this guys ain't going buy any Bitcoin.
It's good to be anticipating actually but the problem America has right now is Bitcoin isn't going to be the easiest problem Donald Trump will start with. There are majority of citizens that are waiting for him to personalized their own problems and give them solution, even he is going to make it happen, I think it's not going to be soon. The market will be free and fair where everything will be done in government ways before announcements will come later.
It's good to be anticipating actually but the problem America has right now is Bitcoin isn't going to be the easiest problem Donald Trump will start with. There are majority of citizens that are waiting for him to personalized their own problems and give them solution, even he is going to make it happen, I think it's not going to be soon. The market will be free and fair where everything will be done in government ways before announcements will come later.
Trump already has the richest man in the world by his side (Elon Musk). He can use his own money to buy some BTC and add it to the country's reserves. Or Mr. Musk can simply pay off the "National Debt" and solve America's issues once and for all.
There's no excuse to keep the US in debt now. Economic prosperity can be achieved. If it doesn't happen, it's because Trump and his team wanted it to keep it that way. We will have to see what happens within the next 4 years. I know for sure that Bitcoin will survive with or without the US (or any other country's) support. That's the beauty of decentralization.
Jump to: