Did Trump's Crypto Order Deliver On His Promise Of A Bitcoin Strategic Reserve?
President Donald Trump this week signed an executive order to establish U.S. dominance in the digital asset market and make the country the global center of crypto. But does that order deliver on what Trump said he'd accomplish?
One of Trump's promises to the crypto industry was the establishment of a «strategic national bitcoin stockpile.» While the crypto industry is generally excited about the order providing legal protections for crypto users and the promise of greater regulatory clarity, some are worried about a perceived pivot from the definite establishment of a national bitcoin stockpile.
Bitcoin (BTCUSD) sold off slightly following the announcement Thursday, though it recovered and was trading close to $105,000 in late-Friday trading.
The executive order established a working group to offer regulatory clarity on a number of issues, including «potential creation and maintenance of a national digital asset stockpile.»
This phrasing creates some confusion. Firstly, the executive order simply discusses the exploration of a «potential» stockpile. Secondly, the language in the executive order is not specific to bitcoin and instead refers to a stockpile of «digital assets.»
It also mentions the possibility of this stockpile being derived from the government's existing crypto holdings that it has accumulated from various enforcement actions instead of trading cryptocurrencies like the government does for the Strategic Petroleum Reserve.
"'Stockpile' is jargon that means holding what they have, but not necessarily buying anything," Galaxy Digital Head of Research Alex Thorn posted on X.According to data shared by Thorn in his X post, the stockpile would largely be made up of bitcoin rather than alternative digital
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