The post Dear President Trump: Bitcoin Reserve, Not Shitcoin Reserve appeared on BitcoinEthereumNews.com.

Yesterday, President Trump signed an Executive Order (EO) entitled “Strengthening American Leadership In Digital Financial Technology.” The document outlines the ways in which the U.S. government will embrace “digital assets” and support the rights of citizens and businesses to engage with “cryptocurrencies” and “blockchain technology.” Bitcoin isn’t mentioned once in the document. Most concerningly, it’s not mentioned in the portion of the document that addresses the potential for the President’s Working Group on Digital Asset Markets (also established via the EO) to create a “stockpile” of digital assets. Here’s exactly how it reads: “The Working Group shall evaluate the potential creation and maintenance of a national digital asset stockpile and propose criteria for establishing such a stockpile, potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.” Bitcoin is one of 17 digital assets the Federal Government has seized. “stockpile” is jargon that means holding what they have, but not necessarily buying anything according to @arkham, here’s all the coins that the USG holds over $1m pic.twitter.com/CtLEuP5utA — Alex Thorn (@intangiblecoins) January 23, 2025 The idea that the government would hold onto the 16 other crypto assets the government is holding is both silly and pointless, as none of those other assets were designed to be a store of value, and a chunk of them are just digital versions of the ever-debasing U.S. dollar. In other words, there’s no reason for the U.S. to stockpile digital assets that are perpetually losing value versus bitcoin. Without even getting into the features that differentiate bitcoin from the other assets on the list above — like its hard-coded perfect scarcity or its network’s level of decentralization — one needs to only take note of the fact that no digital asset has ever made subsequent highs versus bitcoin in…

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Filed under: News - @ January 24, 2025 7:22 pm