The order of President Donald Trump to establish a Bitcoin (BTC) reserve is intended to establish original cryptocurrency as an American reserve asset that deserves special treatment apart from other crypto assets, according to a senior White House official.
The additional cryptographic storage of other order assets will only bring together those obtained by the United States government in seizures, the official said Friday, hours before a cryptographic summit of the afternoon in the White House. The Bitcoin reserve, which according to the official will begin with an estimate of 200,000 Bitcoin currently in the hands of the Government, could obtain an active investment in the future, if the senior administration officials can find ways to put new money without relying on the taxpayers’ funds.
Meanwhile, the Federal Government will embark on an audit to discover exactly how much it currently has in cryptography that will move to the new funds, said the official.
Friday’s summit will welcome a long list of cryptographic leaders, including senior executives of Coinbase, Ripple, Kraken, Gemini, Chainlink and Robinhood, to offer their views on the industry policy at a round table meeting with Trump administration officials.
Trump is also scheduled to appear in the 3 PM event, where he is expected to talk about the executive order signed on Thursday night that directed the establishment of the US Bitcoin Reserve. UU. The reservation, which also includes the second reserve for all other cryptographic assets, will only have digital assets seized through criminal and civil cases and is not yet an active purchase program, which was an active purchase Industry observers.
The summit marks an important turning point for the cryptographic industry in the United States, indicating a dramatic change of the reputational quagmire of the collapse of 2022 to this invitation to share the objectives of the sector with a friendly White House.
Because executive orders such as the one required by this new reservation are not permanent laws, the official said that the additional legislative action would be welcome to consolidate the action.
The Congress led by Republicans, in the first days in this new session, has so far shown an increase in cryptography support. Just this week, the Senate voted overwhelmingly to favor an effort to erase a cryptographic tax rule instituted by internal income services at the end of the Biden administration.
