A democratic lawmaker opposed the plan of US President Donald Trump to increase the government's Bitcoin's possessions by establishing a strategic reserve.
Urging the deputy in the House of Representatives Gerald E. Conolly from Virginia, US Treasury Stop the proposed bitcoin reservesThis indicates that Trump has conflict of interest in pressure for this.
Legitimacy: BTC Reserve stopped
Component I wrote a letter to the US Treasury, Scott Besense, which urges the Secretary to “stop all attempts” that drive to create a strategic bitcoin reserve, claiming that he will not only enrich Trump and his allies.
“The establishment of a strategic reserve for encrypted currencies is preparing to enrich the president and the closest of his allies at the expense of American taxpayers.” “I urge you to stop all plans to create a strategic encryption reserve.”
Virginia The legislator criticized the coded currency suggestion Because Trump only and the donors will benefit from it.
Representative Konoli urges the Treasury to cancel the strategic encryption reserves plans
Virginia MP Jerry Conoli sent a message to US Treasury Secretary Scott Payette on March 13, and urged the administration to stop plans to create strategic coding reserves. According to the press …
Coinnessgl March 14, 2025
Main encryption holders
Honoli said that Trump, his family and the closest allies are the owners of cryptocurrencies, noting that the President's family owns Trump, which maintains “great ownership in the world financial freedom.”
The legislator described it as an encrypted currency project “looking to be a kind of digital assets bank, where customers will be encouraged to borrow, lend and invest in digital currencies” with even the president who claims The world is financial freedom As “the future of financing”.
He added that the sons of the President, Eric Trump and Donald Trump Junior, have called for many encrypted currencies, pointing to the relationship between the Trump family and encrypted currencies.
The democratic legislator stated that the US President has introduced a new Mimi currency in January TrumpSaying: “The entities related to President Trump have achieved up to $ 100 million of commercial fees alone for this project, which was called” the most profitable rich plan so far. “
He pointed out that the strategic coding reserve “has no” clear benefit for the American people. “
Unhealthy fiscal policy?
Konolly argued that Bitcoin Reserve It is an “improper financial policy” because the selection of the winning currencies will be through social media, adding that it will be lost only “taxpayers dollars in a plan described by a federal reserve official as” the most “idea of”.
“The United States has historically established, through Congress, reserves for some strategic value commodities, such as oil, especially in times of the economic crisis. However, no strategic need that would require investment in the volatile and speculative currency market.”
Bitcoin's reserves described “nothing more than a highly supported hedge of taxpayers,” saying that if the encryption is disrupted, “the state will spread this fund to save it.”
Distinctive image from The Independent, the tradingview chart
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