The decision of US President Donald Trump to create a strategic reserve of Bitcoin (SBR) is an “important event”, and not a “empty waste of money”, despite fears about the recession and falling markets. This was stated by analysts K33 Research.
They noted that the creation of SBR demonstrates the serious intentions of the authorities in relation to cryptocurrencies.
Trump instructed to develop a bitcoin procurement strategy without additional costs for taxpayers. According to experts, specific measures should be represented by the Minister of Finance Scott Besent by May 5.
As possible sources of financing, the elimination of excess currency stabilization fund of the Ministry of Finance, the sale of special rights to borrowing the IMF or revaluation of gold certificates are considered as possible sources of financing.
The current correction of the cryptocurrency market, in which Bitcoin reached an annual minimum at $ 76,555, is not related to SBR, according to K33. Analysts see in this situation the opportunity to accumulate assets, emphasizing that the United States will no longer sell the seized bitcoins, and instead will focus on their accumulation.
On March 11, Cynthia Lammis introduced in the US Senate the updated Bitcoin Act bill, which will allow the government to store more than 1 million bitcoins within the framework of crypto -cutter.
Be in the know! Subscribe to Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
