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Trump's Potential Endorsement of Bitcoin as Strategic Reserve ...
2024-07-31 05:50:09
Blockchain
Finance
Politics

Trump's Potential Endorsement of Bitcoin as Strategic Reserve Asset

Speculation arises as Trump's Bitcoin Conference keynote hints at endorsing Bitcoin for U.S. strategic reserve, with experts predicting global adoption and price surge. U.S.

Senator Lummis proposes funding a Strategic Bitcoin Reserve by revaluing Fed's gold, supported by former President Trump's endorsement. A Bitcoin Purchase Program, overseen by Treasury secretary, aims to acquire 1 million BTC over 5 years, stored in secure decentralized facilities.

The proposal highlights bitcoin's political significance for the 2024 election and potential government efforts to utilize cryptocurrency assets strategically.

Related news on that topic:

Trump's Support and Opposition Impact Bitcoin's Future

The growing mainstream acceptance of Bitcoin is evident as influential figures like Donald Trump and tech leaders engage with the cryptocurrency. Trump's endorsement of Bitcoin as a strategic reserve asset and his participation in the Bitcoin Conference in Nashville have sparked speculation and boosted crypto credibility. While his opposition to central bank digital currencies (CBDCs) has the potential to further boost Bitcoin's appeal. The impact of Trump's potential reelection on Bitcoin's market value is a subject of discussion, with predictions of significant price surges. Experts also emphasize the urgent need for clear crypto regulations in the US to ensure the future of digital assets. The importance of supporting pro-crypto candidates and the role of political leadership in shaping the crypto industry are key factors to consider. Overall, Bitcoin's future is influenced by both Trump's support and opposition, as well as market dynamics and macroeconomic factors.

Highlights from the Bitcoin Nashville Conference

The Bitcoin Conference in Nashville is generating excitement as President Trump is set to speak, boosting security measures after a recent assassination attempt. The conference aims to reflect the industry's growing political influence in the 2024 election year and attract a record-breaking crowd. Senator Lummis has proposed a Bitcoin Reserve Bill to address the US national debt, while Wall Street firms are considering allocating billions to Bitcoin. Tether's CEO defends stablecoin and criticizes USDC, and Edward Snowden speaks at the conference. The Bitcoin price rallies to $70,000 before falling back, and a 29-year-old Bitcoiner is tragically robbed and murdered in Kyiv. The Michigan retirement system discloses a $6.6M Bitcoin ETF holding, and a Hong Kong lawmaker proposes a Bitcoin reserve. Additionally, a community-owned Web3 media outlet called Coinage is gaining attention.

Read 3 more recent news on this topic

The press radar on this topic:

The Street
6. August 2024 um 21:45

Will Trump endorse bitcoin as strategic reserve asset?

Politics
Finance
Trump's Bitcoin Conference keynote sparks speculation of endorsing bitcoin as strategic reserve, leveraging U.S. holdings. Experts Tung, Melker predict global adoption, central bank shifts, and price surge. Rumors of SEC Chair resignation raise pro-crypto successor prospect, while potential Fink Treasury appointment could cement admin support. Melker notes bitcoin's growing political significance for 2024 election.
CoinDesk
30. Juli 2024 um 19:58

U.S. Strategic Bitcoin Reserve to Be Funded Partly by Revaluing Fed's Gold, Draft Bill Shows

Politics
Finance
At the Bitcoin Nashville conference, U.S. Senator Cynthia Lummis proposed a Strategic Bitcoin Reserve to be funded by revaluing the Federal Reserve's $11 billion gold stock and reducing its discretionary surplus. The plan calls for a 5-year, 1 million BTC purchase program overseen by the Treasury secretary, with the Bitcoin stored in a decentralized network of secure facilities. This was announced shortly after former President Donald Trump endorsed using the government's existing Bitcoin hold..
Yahoo Finance
30. Juli 2024 um 19:58

U.S. Strategic Bitcoin Reserve to Be Funded Partly by Revaluing Fed's Gold, Draft Bill Shows

Politics
Cryptocurrencies & blockchain
Finance
U.S. Senator Cynthia Lummis, a Wyoming Republican, plans to propose a Strategic Bitcoin Reserve, funded by revaluing the Federal Reserve's gold certificates to fair market value and using the Federal Reserve's net earnings and reduced discretionary surplus funds. The Treasury secretary would oversee a Bitcoin Purchase Program to acquire up to 1 million BTC over 5 years, to be held for at least 20 years and used only to pay off federal debt. The proposal was announced at the Bitcoin Nashville c..
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