Former US President Donald Trump recently spoke at a Crypto Summit in the White House, where he shared plans to stop what he calls the “war on cryptocurrency.” He criticized the current President Joe Biden for changing his views on crypto close to election time. Trump stated, “My government is working hard to end the federal push against crypto, which got really intense under Biden until election time.”
Trump also mentioned that Biden was not a fan of crypto until he noticed how popular it was. “It seems that didn’t help him win,” Trump added. He called Biden’s choice to sell bitcoins “foolish.”
The former president talked about an executive order he signed to create something called a ‘Strategic Bitcoin Reserve,’ claiming that the government now owns the most bitcoin in the US. He said, “Last year, I promised to make America the top bitcoin country and the center of crypto, and we are taking important steps to keep that promise.”
He also mentioned that the Treasury and Commerce Departments will look for new ways to increase bitcoin holdings at no cost to taxpayers. The new Strategic Bitcoin Reserve means that the US will keep the bitcoin as a valuable asset and not sell it.
Trump’s executive order also involves creating a US Digital Asset Stockpile, which will include other digital assets owned by the Treasury Department. The government can sell these assets if needed.
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