Yesterday, President Trump signed an Government Order (EO) entitled “Strengthening American Management In Digital Monetary Know-how.”
The doc outlines the methods during which the U.S. authorities will embrace “digital belongings” and assist the rights of residents and companies to interact with “cryptocurrencies” and “blockchain expertise.”
Bitcoin isn’t talked about as soon as within the doc.
Most concerningly, it’s not talked about within the portion of the doc that addresses the potential for the President’s Working Group on Digital Asset Markets (additionally established by way of the EO) to create a “stockpile” of digital belongings.
Right here’s precisely the way it reads:
“The Working Group shall consider the potential creation and upkeep of a nationwide digital asset stockpile and suggest standards for establishing such a stockpile, doubtlessly derived from cryptocurrencies lawfully seized by the Federal Authorities by its regulation enforcement efforts.”
Bitcoin is one among 17 digital belongings the Federal Authorities has seized.
"stockpile" is jargon meaning holding what they’ve, however not essentially shopping for something based on @arkham, right here's all of the cash that the USG holds over $1m pic.twitter.com/CtLEuP5utA
— Alex Thorn (@intangiblecoins) January 23, 2025
The concept the federal government would maintain onto the 16 different crypto belongings the federal government is holding is each foolish and pointless, as none of these different belongings had been designed to be a retailer of worth, and a piece of them are simply digital variations of the ever-debasing U.S. greenback.
In different phrases, there’s no cause for the U.S. to stockpile digital belongings which can be perpetually shedding worth versus bitcoin. With out even entering into the options that differentiate bitcoin from the opposite belongings on the checklist above — like its hard-coded good shortage or its community’s stage of decentralization — one must solely pay attention to the truth that no digital asset has ever made subsequent highs versus bitcoin in consecutive bull markets to know why it is smart to solely maintain bitcoin.
I imply, even somebody whose firm evaluates shitcoins for a dwelling agrees:
I didn’t donate $12 million to Kamala or price the GOP three further Senate seats like Ripple did.However I’m nonetheless gonna attempt to assist @realDonaldTrump and staff perceive why XRP is the poster little one for why we shouldn’t have a nationwide crypto reserve.Bitcoin Reserve or nothing.
— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) January 24, 2025
So, please President Trump, beef up the bitcoin stockpile by swapping the 16 different digital belongings you’re holding for bitcoin, and let’s name it a day. Absolutely, you’ve seen how effectively the bitcoin-only method has labored out for President Bukele, with whom you spoke simply the opposite day.
It’s time to indicate the world that we perceive that bitcoin is the financial savings expertise and that every part else is, effectively, one thing else.
