The senior White House official said Decrypt That President Donald Trump established a Bitcoin only strategic reserve This Thursday Because the administration of the President views cryptocurrency as a separate league.
“Bitcoin is special in our view,” The senior White House official stated. “It’s the most secure. It’s the most decentralized. It doesn’t have an issuer. So it deserves special treatment.”
Trump, in signing the executive order creating a Strategic Bitcoin Reserve also created a federal Digital Stockpile that will contain various other crypto currencies seized by U.S. authorities. “in connection with criminal or civil asset forfeiture proceedings.”
Trump said on Sunday that a large stockpile of cryptocurrencies would include XRP and other assets such as Solana and Cardano. This sent the market price for these assets soaring. It's currently unclear if the U.S. government is in possession of any of these assets that it may have gained from prior criminal proceedings. Arkham’s blockchain intelligence firm Arkham has identified zero crypto assets in the U.S. federal government wallets. XRP or SOL?
If asked By: Decrypt Does this mean the crypto stockpile will not be featured? The White House official redirected, saying that the U.S. Government does not have a complete accounting yet of the digital assets and their amounts.
“We have to go see what the federal government actually owns,” The official stated. “They've never done an audit before. I think that's the place to start.”
Officials explained that the nearly 200,000 Bitcoins believed to be under the U.S. Government’s control will be kept indefinitely in order to generate revenue. “long term value,” The U.S. Treasury Secretary will be able to dispose of any altcoins that are in the Digital Assets Stockpile, if necessary. “decided that was the best strategy.”
Officials also revealed the schedule for today’s inaugural meeting White House Crypto SummitThe focus will be on the importance of fostering a dialogue between senior government officials and various leaders from industry. Tax-related topics will not be addressed; instead, the focus will be primarily auf Dismantling anti-crypto Biden-era regulations
