US President Donald Trump announced a decree of March 6 to establish a Bitcoin Reserve.
This order guarantees that the Bitcoin seized will be held in a national reserve and will not be sold. Rather, it would work as a reserve of value, similar to a “strong digital Knox”.
The directive affects the secretary of the Treasury Scott Bessent and the Secretary of Commerce Howard Libenick The responsibility of formulating neutral budgetary strategies to extend the country’s bitcoin reserves without retreating taxpayers.
The announcement sparked significant discussion and excitement within the cryptographic community. Cryptoslate organized how the key figures in the industry responded to the milestone below
Industry leaders react
Bitcoin Bull and the president of Strategy (formerly microstrategy) Michael Saylor welcomed this decision, describing the Bitcoin Strategic Reserve as a step towards American domination in the digital economy.
He added::
“The United States now has the largest Bitcoin strategic reserve in the world.”
Senator Cynthia Lummis praised the decision, calling it as a realization of Trump promises and a demonstration of his commitment to Bitcoin.
She declared::
“We become bitcoin and world capital of digital assets. America is so long.
Jamming CEO Brian Armstrong called the order a historic decision for Bitcoin and the wider market of cryptography. He predicted that the G20 nations would note it and eventually follow the American example.
Armstrong said::
“An incredible execution of the Trump administration and a historic moment for Bitcoin and Crypto! I expect many from the G20 to note and eventually follow the American leadership. »»
In the world Cio Matt Hougan has highlighted several key implications for the decision. He stressed that this considerably reduces the risk of a future Bitcoin ban in the United States and increases the probability that other nations establish their own bitcoin reserves.
Hougan also noted that this decision could accelerate the adoption of Bitcoin on a global scale, because countries can act quickly to build their assets before American acquisitions strengthen demand.
He concluded::
“I don’t know how the market will think about this short term. I am sure that in the long term, it is extraordinarily optimistic for Bitcoin. »»
Meanwhile, analyst Crypto Kanazawa describe Potential means for the United States to expand its Bitcoin reserves without additional expenses of taxpayers.
His suggestions included the entry of assets by legal means, the reallocation of gold reserves, the redirection of other budgetary income and the extraction of unused computing power or energy resources for bitcoin extraction.
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