Will Trump Create a National Bitcoin Reserve? - page 2.

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Quote from: Marvell1 on January 16, 2025, 04:13:12 AM

What financial problems will Bitcoin solve for the United States? And how can it strengthen the dollar when it is just a national reserve asset like gold, and not used to back the dollar as the gold standard did in the past?

The Trump administration has many pro-crypto politicians, which is extremely good for the crypto industry, but when it comes to national reserves, no one in the Trump administration can make a difference. Simply because the Fed is the regulator and has the power to decide on national reserves, and they are not under the control of the US government, including President Trump.

The only thing I can agree with you on is that if the US succeeds in creating a bitcoin reserve, a domino effect will occur worldwide.

I would say that Trump views the reserves more like a brand new thing to follow the lead in something for the US.
Imagine the charts and look at them even now - US, THE biggest owner of BTC reserves worldwide.
It's like Trump tweeted on X one time: he wants to make BTC "US-made", so to speak, imo.

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Quote from: Patikno on January 14, 2025, 03:19:29 PM

Trump's move is not only Bold I think but also so realistic, because surely if it happened and Trump succeeds to fulfill his promise so it will be a good future for the United States and even I am sure there will be many other countries that will follow this fantastic move, especially after seeing the good impact, because I also believe this will be able to help overcome US financial problems and will even strengthen the US dollar in the future as conveyed by Senator Cynthia Lummis, and it will make many countries follow in this footsteps. By the way, if the idea of a Bitcoin reserve is realized, then America will be one of the first countries to officially hold Bitcoin as a reserve.

What financial problems will Bitcoin solve for the United States? And how can it strengthen the dollar when it is just a national reserve asset like gold, and not used to back the dollar as the gold standard did in the past?

The Trump administration has many pro-crypto politicians, which is extremely good for the crypto industry, but when it comes to national reserves, no one in the Trump administration can make a difference. Simply because the Fed is the regulator and has the power to decide on national reserves, and they are not under the control of the US government, including President Trump.

The only thing I can agree with you on is that if the US succeeds in creating a bitcoin reserve, a domino effect will occur worldwide.

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Quote from: ? on January 14, 2025, 09:54:13 PM

Can the President use executive orders to establish the strategic reserve? or does it need to go through the legislative process?

As it was said by Balik - simple answer is no, there is more than that to make the event happen.
And much time is needed for the process.

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Quote from: ? on January 14, 2025, 09:54:13 PM

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.

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Can the President use executive orders to establish the strategic reserve? or does it need to go through the legislative process?

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Quote from: Mame89 on January 14, 2025, 12:33:29 PM

Quote from: Patikno on January 07, 2025, 05:15:42 PM

I believe in Trump's promise to create a national bitcoin reserve, because I see that Trump is starting to gather some pro-crypto people around him, so I am sure that it will be realized soon, even so I think there are still many obstacles and peregrination to go through to make it happen, and when that day comes it will give credibility to crypto, especially Bitcoin.

After taking office as president, of course Trump will try to fulfill his campaign promise by creating a national BTC reserve. It must be admitted that Trump's move is very bold because there has been widespread debate, both domestically and internationally. How is the impact and potential for the domestic and global financial system. So of course Trump wants to realize this promise is not easy, he will face a lot of resistance both domestically and abroad.

However, if President Trump's plan succeeds, of course this will continue to expand BTC ownership in their country, and it can cause a significant transformation especially in global goals. So this can affect countries around the world in viewing and utilizing bitcoin in their financial systems. So the point is, Trump's plan to build a national BTC Reserve is a good thing for the long term and has the potential to change the global financial map. Let's wait and see if this plan will work, but what is clear is that the world is watching it.

Trump's move is not only Bold I think but also so realistic, because surely if it happened and Trump succeeds to fulfill his promise so it will be a good future for the United States and even I am sure there will be many other countries that will follow this fantastic move, especially after seeing the good impact, because I also believe this will be able to help overcome US financial problems and will even strengthen the US dollar in the future as conveyed by Senator Cynthia Lummis, and it will make many countries follow in this footsteps. By the way, if the idea of a Bitcoin reserve is realized, then America will be one of the first countries to officially hold Bitcoin as a reserve.

Reference : - Forbes

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Quote from: martinex on January 13, 2025, 08:33:22 AM

What is interesting now is whether the US government will execute the seized BTC. The US government holds 198,109 BTC. If it does, it seems funny and irrelevant according to his campaign promises before he won the last presidential election. However, it is interesting to follow.

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.

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Quote from: Patikno on January 07, 2025, 05:15:42 PM

I believe in Trump's promise to create a national bitcoin reserve, because I see that Trump is starting to gather some pro-crypto people around him, so I am sure that it will be realized soon, even so I think there are still many obstacles and peregrination to go through to make it happen, and when that day comes it will give credibility to crypto, especially Bitcoin.

After taking office as president, of course Trump will try to fulfill his campaign promise by creating a national BTC reserve. It must be admitted that Trump's move is very bold because there has been widespread debate, both domestically and internationally. How is the impact and potential for the domestic and global financial system. So of course Trump wants to realize this promise is not easy, he will face a lot of resistance both domestically and abroad.

However, if President Trump's plan succeeds, of course this will continue to expand BTC ownership in their country, and it can cause a significant transformation especially in global goals. So this can affect countries around the world in viewing and utilizing bitcoin in their financial systems. So the point is, Trump's plan to build a national BTC Reserve is a good thing for the long term and has the potential to change the global financial map. Let's wait and see if this plan will work, but what is clear is that the world is watching it.

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Quote from: OgNasty on January 11, 2025, 04:46:40 PM

I think that Trump will most definitely create a Strategic Bitcoin Reserve for the United States. The problem is that I think a lot of people are expecting him to announce some plan to purchase a million BTC and I don't think that will happen. I think Trump will keep most or all of the confiscated coins, and the market will probably not be effected either way. It would do a little to ease fears of a massive selloff in the immediate future, but the market is going to need someone else besides MicroStrategy to step up as a buyer if the price is going to go next level.

The FED can easily print money, so buying "1 million BTC" shouldn't be a problem. But first, Trump must solve the "National Debt" problem. Then, he talk about making the US "the crypto capital of the world". Having a national BTC reserve is not as easy as it sounds. Especially if the country is on the brink of bankruptcy.

Three things can happen during Trump's upcoming presidency. Either the US defaults, the debt ceiling is raised, or the "National Debt" is paid off in its entirety. Whatever happens, you can feel confident BTC won't be going away anytime soon. It will only become bigger and stronger over time. BTC didn't need spot ETFs or national reserves to reach a new ATH. It did fine in the past without the governments' (and institutional investors') support. With or without a US national reserve, BTC will be here to stay. Cheesy

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It all depends on their state and their plans. Trump certainly promised Bitcoin as a state reserve in his election campaign, which was a positive aspect for Bitcoin. So he will not be able to fulfill that promise independently after becoming president. He can also start this process with the consent of the people of his country. I do not know how much Trump will work or how successful he will be in keeping his promise. But I see the positive aspect of Bitcoin as great.

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Politician's promise to gain votes, there is not even real commitment at dates, but he has 4 years to fulfill bitcoin promise.

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Quote from: EFS on January 12, 2025, 05:02:29 PM

I don't think it will happen, and if it happens, it won't happen in the first 100 days because Trump has bigger promises and bigger things to do. It will take more than 100 days to get to the promises about crypto currencies. I think he has a lot of work to do in foreign policy and I think he will deal with the 180-degree change in US foreign policy. He has so much work to do in Ukraine and the Middle East that crypto will not be in front of his desk in the first 3 months.

After he is done with foreign policy he will have to start to move onto immigration policies and that only may perfectly suck over one hundred days of his time. He may appear to be quite pro-Bitcoin, no doubt about it, but in the end one needs to remember there are big donors behind he campaign and he needs to also consider their interest when signing executive orders.
Those who are donors for the Trump team may not have in their interest for Bitcoin to become a widely accepted and known asset, after all Bitcoin dominance is completely antagonist with the dominance of the US dollar, both Trump and his donors would like to continue to see an increase of the power of the dollar against other fiat currencies, like the Euro and Yen.

Trump may end up just cutting taxes to those who decide to sell their Bitcoin and other decentralized currencies, but not much beyond that scope. He has already been proven to be effective at cutting taxes, after all.

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Quote from: ? on January 07, 2025, 07:10:59 AM

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?

Due to his political personality, many people are not completely convinced by Donald Trump's statement about the strategic Bitcoin reserve. Some think it is a strategy to win his election. Some think that making Bitcoin a strategic reserve currency is a matter of time. However, from my perspective, what I understand is that Trump will definitely make a strategic reserve of Bitcoin, but it will take a long time for him to implement.

Trump will make Bitcoin a reserve currency for his benefit, for the benefit of his country, so why wouldn't he do it? The US will be the leader in everything related to finance. Just like America has a strategic oil reserve, they will definitely reserve Bitcoin. If Trump buys 1 million Bitcoin as planned and if the market cap of Bitcoin is 16 trillion, then America will get a huge financial support, which is why he has to do it. If he doesn't, Russia will certainly not be left behind. They will use that opportunity to protect their interests.

According to Polymarket's gamblers' analysis, the implementation of Bitcoin reserve currency is 28 percent, but according to my prediction, there is a possibility of 90 percent.After the first 100 days of his power, many things will become clear.

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What is interesting now is whether the US government will execute the seized BTC. The US government holds 198,109 BTC. If it does, it seems funny and irrelevant according to his campaign promises before he won the last presidential election. However, it is interesting to follow.

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Quote from: bettercrypto on January 11, 2025, 09:44:43 AM

As long as that doesn't happen and it's just news or plans, it will still remain speculations, it's not that I don't like the Bitcoin Reserves that Trump is planning, if it's true,
of course it can't just be implemented right away.

So, what's happening right now is that the crypto community around the world is being hyped about that, this is just my assessment, if all we hear on the day of the inauguration is positive sentiments, the chances are really high that Bitcoin's price rally will continue.

Frankly, no one likes or cares too much about bitcoin reserves, what people care about is how to get the bitcoin price as high as possible and to do that there needs to be big positive news. People just latch onto and grab onto whatever they think will make the price of bitcoin go up, and they blindly support it without ever researching whether it is viable and can become a reality.

If I remember correctly Trump only mentioned the idea once and so far there has been no further news to suggest he is serious about it. People are just blowing things out of proportion and living in illusions, nothing more.

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Quote from: EFS on January 12, 2025, 05:02:29 PM

I don't think it will happen, and if it happens, it won't happen in the first 100 days because Trump has bigger promises and bigger things to do. It will take more than 100 days to get to the promises about crypto currencies. I think he has a lot of work to do in foreign policy and I think he will deal with the 180-degree change in US foreign policy. He has so much work to do in Ukraine and the Middle East that crypto will not be in front of his desk in the first 3 months.

I think about that too.
But when it happens - we surely will have our ears ready for some more promises or even actions taken.
There is always bigger fish to fry in the office than crypto, but the time will come for it too, surely.

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Quote from: Lida93 on January 12, 2025, 08:47:10 AM

Quote from: Swordsoffreedom on January 12, 2025, 03:32:02 AM

~

I think we both saying similar thing here mate, in the US the constitution is supreme to which no person is above it not even the Powell or the President and that's why Trump harps on the Congress to amend the constitution that it may go in favour of his bitcoin reserve idea. So invariably both Powell and Trump answers to the Congress base on the Congress stand after a sufficient scrutiny weighing all factors involved towards the reserve. But between the two players on this, if Trump is so adamant on the matter then I see him having a much influence in lobbying Congress members to his side against Powell position.

We need to be clear that Trump only mentioned the idea of including Bitcoin in the national reserve during the election. He has not officially become president, so he has no authority to ask or urge Congress to do anything, and he has never asked Congress to consider the idea. Even if he officially becomes president, he still needs to propose his ideas for a vote by Congress. Urging parliament to pass statements on social media is just a political stunt to please people, and it only shows that he is not serious about the idea.

What Trump wants is the power to interfere in the Fed's decisions, and he mentioned this during the election campaign. But honestly, no president has done that before, and Trump is no exception. The Fed needs to remain independent and separate from government influence because that is how the US dollar maintains its dominance worldwide. Congress knows this better than anyone, so don't expect bipartisan politicians to side with Trump over the Fed if they fight each other.

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I don't think it will happen, and if it happens, it won't happen in the first 100 days because Trump has bigger promises and bigger things to do. It will take more than 100 days to get to the promises about crypto currencies. I think he has a lot of work to do in foreign policy and I think he will deal with the 180-degree change in US foreign policy. He has so much work to do in Ukraine and the Middle East that crypto will not be in front of his desk in the first 3 months.

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Quote from: Z-tight on January 12, 2025, 08:56:25 AM

Nobody here can tell the future, we all heard most of the things the president-elect said he would do during his campaign, and you can ask us all you want if he will do it or not, the answer will still be that we do not know. However, i don't think there is any need to speculate too much, in a few days Trump takes office, and then we would witness what will be done and if the Fed reserve will agree to a BTC strategic reserve in the U.S.

Of course no one can predict the future, whatever has been said and done before is not necessarily happening tomorrow, so what we have seen and heard from Trump's remarks for the future of bitcoin in the US, this is still speculation, in a democratic country you cannot decide this based on the president's words alone, there still needs to be deliberation with the cabinet and also agencies related to economic policy in that country, because after all if the US makes bitcoin a reserve asset it will change the investment path of investors there, and companies in the US may be a little unattractive and prefer bitcoin to the stock market, so considerations must be very long about this, after being inaugurated it is unlikely to be legalized immediately because it certainly requires a lot of approval from government agencies including the Fed.

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Quote from: Minor Miner on January 12, 2025, 12:54:22 AM

~snip~
The Federal Reserve and Congress are the most powerful and authoritative bodies to decide on national reserves. It is puzzling that people ignore them and focus on Trump when he has no authority to decide that.

I also care about bitcoin reserves but I care more about what the Fed and congress say about it than Trump. But so far, the Fed has flatly rejected that idea, so I'm not optimistic that we'll have a bitcoin strategic reserve anytime soon.

Sometimes it seems to me that many people think that Donald has similar powers as Bukele, so they think that this idea is actually a done deal. Unfortunately for them, it's not like that in the US, even though Donald has appointed a bunch of clowns to key positions with which they will try to achieve their policies.

I personally think this idea is bad for BTC in the long run - because what good can come from the most powerful country in the world getting involved with BTC? In that case, it would only be a matter of time before these same people, obsessed with as much control as possible, would start looking for solutions to centralize BTC as much as possible.

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