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On his first day in office, Trump ordered 'buy BTC reserves'? The market is enthusiastically discussing the 'next bull market'
The discussion about the establishment of a strategic BTC reserve in the United States has become increasingly heated recently, especially with the possibility of politicians introducing new laws and agreeing to them. The most notable proposal is the 2024 BTC Act introduced by U.S. Senator Cynthia Lummis. The bill suggests that the U.S. Treasury and the Federal Reserve should buy 200,000 BTC every year for the next 5 years, accumulating a total of 1 million BTC, which will account for approximately 5% of the total BTC supply.
On the show Timcast hosted by American commentator and journalist Tim Pool, Jack Mallers, the founder of the BTC payment platform Strike, discussed:
Trump plans to sign an executive order on his first day in office to immediately launch a strategic BTC reserve plan.
Jack Mallerse quipped that "Trump is considering issuing an executive order on his first day in office." Then, moderator Tim Pool responded in surprise, "Sorry. Are you talking about executing orders on your first day in office to allow the United States to have BTC reserves?"
Jack Mallers responded, "Yes. I know people are concerned about the National Stablecoin Act because it gives the president significant leeway to protect the dollar, and potentially buy BTC with executive orders on day one."
It will not reach a scale of 1 million coins, but it will be a significant portion and will be a message from the United States.
It is currently unclear whether Jack Mallers' statement is true or just empty talk. However, when Trump rang the bell at the New York Stock Exchange last week, he told CNBC, "We are going to do some great things with cryptocurrency." When asked if the United States will establish a BTC strategic reserve similar to the oil reserve, Trump replied, "Yes, that's what I think."
The idea of strategic BTC reserves may be exactly what cryptocurrency supporters have been waiting for to reverse the overall situation.
With the support of Trump and the legislation support of important figures such as Senator Cynthia Lummis, the United States is expected to usher in a new era where digital assets become part of national policy, possibly changing the way the financial system treats currency reserves.
The impact of this action will be significant and mysterious. If Trump insists on his ideas and implements them, it may mean that the government will change its view and utilization of BTC, possibly encouraging global adoption and proving that BTC is not just a speculative asset, but a fundamental part of economic strategy.
The article titled 'Trump orders 'buy BTC reserve' on his first day in office? Market hotly discusses 'the next bull market' was first published on 'Block Times'.