VanEck, a major asset management firm, has expressed support for the initiative to create a strategic Bitcoin reserve proposed by Donald Trump.
VanEck's Support for Strategic Reserve
Matthew Sigel, head of digital asset research at VanEck, officially announced that his firm supports the concept of a Bitcoin strategic reserve. This idea was announced by Donald Trump at a crypto conference in July. In his X post, Sigel stated: 'For immediate release: VanEck Endorses Strategic Bitcoin Reserve. No need for ‘sources’ we just tell you ourselves.'
Legislative Initiatives in the US
The endorsement followed Wyoming Republican Senator Cynthia Lummis proposing this to Congress. The BITCOIN Act, which allows Bitcoin as part of the strategic reserve, was also introduced in Pennsylvania, granting space for Bitcoin if the bill is passed.
VanEck's Crypto Product Record
VanEck is known as one of the largest asset managers supporting Trump's idea. It was the first company to propose a future-based Bitcoin ETF in the U.S. in 2017. If Congress passes the bill, it will influence the nation's financial budget, currently dominated by gold. The BITCOIN Act will permit the U.S. government to acquire 1,000,000 BTC in the next five years.
The initiative to create a strategic Bitcoin reserve continues to gain support in the US, potentially leading to significant changes in the nation's economic strategy.
