TD Cowen analysts consider it unclear whether the US authorities plan to purchase bitcoin and other assets or to hold previously seized cryptocurrencies.
“We warn against excessive reaction. In the original version, Bitcoin and ether were not even included in the reserve. This leads us to the idea that Trump’s statement was not coordinated. Also, the issue of how the government will receive funds for buying tokens was not discussed, ”the investment bankers said.
Experts recalled the upcoming summit on March 7 with the participation of the special adviser to the American president for cryptocurrencies David Sacks with representatives of the industry and investors, where the prospects for changes in the legislation on stablecoins and other digital assets should be determined. It is unlikely that the Congress realizes cryptocurrency initiatives during the first 100 days of Trump’s presidency, and it is not worth expecting Bitcoin rally due to a long process of approving such decisions, TD Cowen said.
Earlier, Coinbase CEO, Brian Armstrong), said that it would be better if only the first cryptocurrency will be present in the US Cryptuster.
Source: Bits
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