A consultant said that President Trump signed an executive order on Thursday to create a national stock of bitcoin and other digital currencies, a bold idea that was widely criticized as a scheme to enrich the encryption investors.
The basis for the inventory will be a bitcoin hidden, estimated at $ 17 billion, which the United States has seized in legal cases over the years, according to Summary of the application Posted on social media by David Sachs, the White House encrypted and artificial intelligence policy.
It also calls for the development of federal agencies “neutral budget strategies” to buy more bitcoin, and the most popular digital currency, as long as these purchases do not generate additional taxpayers.
“This executive matter confirms President Trump’s commitment to making the United States” the coding capital in the world, “said Mr. Sachs.
Since Mr. Trump took office in January, his administration has moved quickly to raise the encryption industry, a volatile killer sector with federal organizers for years. Securities and Stock Exchange Committee Decline Claims against two of the largest American encryption companies have been suspended in many others. On Friday, Mr. Trump is scheduled to host the CEOs for encryption at the White House to obtain the “encryption summit” of its kind.
Mr. Trump has a personal share in the success of the encryption industry, which creates a conflict of interests that sparked warnings with government ethics experts. Last year, it started a business, World Liberty Financial, offers an encrypted currency called WLFI. A few days before his inauguration, he also began selling the so-called Memecoin-is a type of cryptocurrency linked to an online joke or a famous personality.
The White House did not immediately respond to a request for comment.
The idea of the American encryption reserves gained a traction last year, as Mr. Trump embraced the industry on the campaign trail. Supporters have argued that investing in Bitcoin will help the government to stay away from national debts worth $ 36 trillion, and to ensure that the United States has been dominant in a virtual future where the global economy is working on encrypted currencies.
But the skeptics said that the plan seemed calculated to enrich the CEOs of encryption who already have large quantities of bitcoin by raising the price of the distinctive symbol. They argued that it was dangerous to link the nation’s economic future with a very volatile origin.
At a conference in Nashville in July, Mr. Trump gave a speech to a crowd of bitcoin lovers and pledged to create a national stock. This promise has doubled at the end of last week, as it was published on social media that it intends to create a protected protected from Bitcoin and other cryptocurrencies, such as Solana, Kardano, Atheer, XRP.
This plan has sparked criticism from some CEOs for encryption, who have argued that the only origin in the national reserve should be bitcoin, the most valuable cryptocurrency in the market.
In the summary of the executive order, Mr. Sachs wrote that the government would create a separate stock of digital assets other than bitcoin. But he said that the hidden will only include the coins obtained in criminal or civil seizures, and that the government will not move to buy any encrypted currencies except for bitcoin.
The encryption investors celebrated the announcement of social media, Call It is a “historic day” and a “massive victory” for the country.
“By keeping Bitcoin and other digital assets in the long run, the White House follows a future approach to the front,” Nathan McCalli, CEO of Chefir Angeroge Digital Company, said in a statement. “Expect this step to stimulate the dependence of encryption between more governments and institutions.”
