The Trump administration has taken a new step in the regulation of cryptocurrencies in the US, creating strategic reserves that may change the country's approach to digital assets.
A 'Digital Fort Knox' funded by confiscation
The Strategic Bitcoin Reserve, inspired by the Fort Knox model for gold, will be funded by bitcoins seized during legal proceedings. This means no additional cost to taxpayers. The 198,109 BTC currently held by the government, estimated to be worth $17 billion, will be allocated to this reserve. Unlike the previous practice of selling seized bitcoins, the new policy implies these bitcoins will be kept as a store of value, similar to US gold reserves.
A strategic and political shift on cryptocurrencies
This decree marks a radical change in Donald Trump’s policy on cryptocurrencies. Initially skeptical of Bitcoin, Trump has gradually adopted a pro-crypto stance, prohibiting the creation of a digital dollar (CBDC) and supporting dollar-backed stablecoins. Since July 2024, Trump has promised the creation of a federal Bitcoin reserve, believing the United States should become the world capital of cryptos.
An ambitious but controversial project
While the decree strengthens Bitcoin's presence in US economic policies, it also raises questions and criticisms. Some experts point out the lack of a detailed plan for the use of these reserves, while others express concerns about a potential conflict of interest between Trump and his advisor David Sacks. Additionally, there are doubts about the viability of including more volatile altcoins, like Solana and Cardano, which may compromise the stability of this national strategy. The White House announced that more details will be unveiled at the Washington Crypto Summit, scheduled for March 7.
Donald Trump’s decree may mark a turning point in the history of cryptos within the United States. It remains to be seen if this initiative will deliver on its promises and help the country assert itself as an undeniable leader in the crypto sector.
