Strategic Bitcoin Reserve: Trump Hints at Imminent Move
Coinbase CEO Brian Armstrong suggests that President Donald Trump is poised to establish a strategic bitcoin reserve. This move aligns with Trump's previous commitment to create a national bitcoin stockpile.
Armstrong highlights the rationale behind such a reserve, citing the U.S. government's existing holdings in various commodities. He believes that bitcoin should be included as a reserve asset given its growing acceptance as a standard for money.
The Coinbase CEO suggests that the U.S. adoption of a strategic bitcoin reserve would likely trigger similar moves by G20 nations, potentially bolstering bitcoin's value. He also notes the surge in bitcoin ETF inflows, indicating growing institutional adoption.
However, some industry experts express skepticism about Trump's commitment to a strategic bitcoin reserve. Arthur Hayes, former CEO of BitMex, argues that borrowing funds for bitcoin acquisition may conflict with other policy priorities.
Despite differing viewpoints, Armstrong remains optimistic about the potential impact of Trump's administration on the crypto industry. He credits the President with fostering regulatory clarity, a crucial development for the sector's growth.