Yesterday, President Trump signed an Executive Order (EO) entitled “Strengthening American leadership in digital financial technology“
The document outlines the ways in which the US government will legalize “digital assets” and support the rights of citizens and businesses to transact with “cryptocurrencies” and “blockchain technology.”
Bitcoin is not mentioned once in the document.
Most likely, it was not mentioned in the part of the document that addresses the potential of the President’s Working Group on Digital Asset Markets (also established via the EO) to create a “stock” of digital assets.
Here’s exactly how it reads:
“The working group should evaluate the potential creation and maintenance of a national digital asset inventory and propose standards for creating such an inventory, potentially derived from cryptocurrencies seized by the federal government through law enforcement efforts.”
Bitcoin is one of 17 digital assets seized by the federal government.
"stock" Does this mean that they keep what they have, but not necessarily buy anything
according to arkhamHere are all the coins held by USG over $1 million pic.twitter.com/ctleup5uta
– Alex Thorne (intangibleCoins) January 23, 2025
The idea that the government would seize another 16 crypto assets held by the government is ridiculous and nonsensical, as none of these other assets are designed to be a store of value, and some of them are just digital versions of the ever-passive US dollar.
In other words, there is no reason for the United States to store digital assets that always lose value against Bitcoin. Without even getting into the features that distinguish Bitcoin from the other assets on the list above—such as its ideal tokenized scarcity or the networks’ level of decentralization—one only needs to note the fact that there are no digital assets at all against Bitcoin in successive bull markets to understand why it makes sense to hold Bitcoin. only.
I mean, even someone whose company you evaluate agrees for a living:
I didn’t donate $12 million to Kamala or cost the GOP three Senate seats like Ripple did.
But I’m still trying to help realdonaldtrump The team understood why XRP is the poster child for why there is no national crypto reserve.
Bitcoin reserve or nothing.
– Ryan Selkis (D/ACC) 🇺🇸 (twobitidiot) January 24, 2025
So please President Trump, boost your Bitcoin stock by swapping 16 of the other digital assets you hold for Bitcoin, and let’s call it a day. Sure, you’ve seen how Well, President Bukele’s Bitcoin-only approach has workedWho did I talk to just the other day?
It’s time to show the world that we understand that Bitcoin is a savings technology and everything else is something else.