President Donald Trump’s decision to create the official encrypted government reserves in the United States has sparked criticism from industrial monitors.
He has The executive order signed Create what to call the strategic Bitcoin reserves as well as the stock of digital assets, which will consist of other forms of digital currency.
The money will be stored in metal currencies that have been confiscated to the federal government as part of the criminal or civil procedures.
White House Amnesty International and Crypto Caesar David Like To the “cryptocurrency of the cryptocurrency”, which attracts compared to Kentucky’s military base, which stores a large part of the American gold assets.
However, some encryption fans criticized the government for not being bolder, while others raised question marks about the lack of transparency during the operation.
Sacks ordered full accountability of the current coding reserves of the federal government, which was estimated at 200,000 Bitcoin alone. This deserves 17.5 billion dollars (13.6 billion pounds) at today’s prices.
However, Charles Edwards of the Cabriol Fund, a Bitcoin hedge and digital assets, called on Thursday a “pig in lipstick” in response to the participation of SACKS on X.
“There is no active purchase, which means that this is just a fictional title for bitcoin pregnant women who were already present with the government,” he said.
Trump Executive order He says that the Secretary of the Ministry of Treasury and Trade will come with strategies to obtain more government bitcoin, provided that this is “a budget neutral and does not impose gradual costs on taxpayers in the United States.”
Jason Yanowitz, co -founder of Crypto FIRMWORKS, said the decision was a “terrible precedent” and “meaningless”.
“Without a clear framework, we risk the choices of arbitrary assets, which will distort the markets and push the loss of public confidence.”
Other analysts were more positive.
“This approach is more logical than buying assets,” said Ross Muldad, AJ Bell Investment Manager.
“It would be strange that the United States sells dollars to purchase encryption, when the dollar is a world reserve currency and thus a tremendous source of impact.”
The president is expected to host more details when he hosts the first White House encryption summit on Friday.
It is not clear whether the planned reserve may face legal obstacles, or whether it may require action of Congress.
The United States will not sell any bitcoin deposited in the reserve, as the bags said, and will instead keep them as origin.
It was not clear how the new American stocks would benefit, but Sacks said he “will not cost taxpayers ten cents.”
Its effects that the United States government will not buy Bitcoin prices for the world’s largest encrypted currency to decline by more than 5 %.
Some countries maintain strategic reserves for national assets to diversify government holdings and hedging against financial risks.
The United States also maintains oil reserves. Canada has maple syrup reserves.
Earlier this week, Trump revealed the names of five encrypted currencies He said he would like to be covered by the strategic reserve.
Market prices for the five metal sectors called – Bitcoin, Ethereum, XRP, Solana and Cardano – jumped quickly after this announcement.
Mr. Yanowitz said that the United States government needs to be careful not to see the winners.
“Ensuring transparency through independent audits and general reports is very important to enhance innovation instead of favoritism,” he said.
It stipulates that Trump’s signature is that the Treasury and Trade Ministry will reach strategies to obtain more government bitcoin, provided that this is “a budget neutral and does not impose gradual costs on taxpayers in the United States.”
Trump It has overcome the encryption community During his presidential campaign. Former US President Joe Biden led a campaign on encryption, pointing to fears about fraud.