US President Donald Trump signed an executive order on March 6th to create a strategic Bitcoin (BTC) reserve at the country. The measure establishes an initial acquisition of approximately 200,000 BTC in custody of federal products for seizures.
this Mark steps towards BTC integration National Finance also fulfills the promises of Trump’s campaign in July 2024.
As reported by Cryptonotics, Trump’s executive order directs the Treasury to implement this preparation. In order, Open the door to additional BTC purchasesif they have Congress support.
In this connection, Senator Cynthia Ramis was announced in July 2024 and sought a similar purpose. I was able to find a new impulse. And the initiative proposed to acquire 1 million bitcoins. He went through the legislative cycle without being approved.
Lummis’ plans sought to strengthen the US dollar. It proposed creating a decentralized network of safe safes for Bitcoin, run by the Ministry of Finance. According to the proposal, these facilities They comply with strict legal and cybersecurity requirementsas reported by Cryptonotics at that point.
The goal of the Lummis project was to accumulate 5% of the total supply of BTC over a given period. The project proposed to fund this purchase Diversify funds from the Federal Reserve and financial systems.
However, the project had no progress any more and remained stagnant at the previous Congressional session. And to date, no new proposals have been submitted to form a strategic Bitcoin Reserve. Now, the Ramis Project did not flourish in 2024.Trump’s order changes panorama.
Approved by the US Congress.
Specifically, Section 3 of Article 2 of the Executive Order, available on the White House website, establishes that the Secretary of the Treasury must analyze the law, finance and logistics necessary to formalize Bitcoin Reserve and other digital assets within two months. Additionally, you need to decide If Congressional Permissions Need to Expand Purchases.
The implications are clear. If the Treasury Secretary concludes that Congress must intervene, Projects like Lummis They were able to revitalize. This depends on the results of the Trump analysis.
198.109 The first reserve for Bitcoin (total number of coins in the hands of the US federal government. According to Arkham Intelligence Analysis and Monitoring Company, legislative approval is not required, but expansion may require it. Then, Congress It plays an important role in defining the scope of this strategy.
In that sense, Ramis, who publicly stated his support for the Bitcoin and cryptocurrency ecosystem, said Trump’s order was the “beginning” of a wider process.
For senators, Trump is “fulfilling his promise” to lead the most written administration in US history. “By adopting Bitcoin as a strategic asset, President Trump has derived ways to address our national debt and secure America’s position as a global leader in financial innovation,” he said.
“The American people will remember this decision as a time to recover their financial future, and I would like to partner with President Trump to achieve that,” he added.
The moment when interest in Bitcoin grew
Trump’s executive order arrives at a time when interest in BTC and Cryptoactive is growing. On this scale, the United States We aim to position ourselves in the global cryptocurrency market. In general, BTC reserves can serve as financial support or geopolitical tools. Even in January, when a US court dictated that 94,000 bitcoins stolen from Exchange Bitfinex had to be returned in 2016.
We must take into consideration the US Congress’s complex history and cryptocurrency. Some lawmakers, including Elizabeth Warren, see them as a threat to the traditional financial system. Others like Ramisu consider them an opportunity.
Therefore, Trump’s executive order could lean balance towards this last stance. But it all depends on the arguments presented by the Ministry of Finance over the coming months.
However, Trump’s actions from other countries also have international implications. They can follow the US exampleas suggested by experts such as Mike Novogratz, CEO of Galaxy Digital Firm.
The Lummis project is in custody, but could resurface whether Congress would approve additional purchases. Financial analysis defines the next chapter of this strategy. For now, the country will turn completely in favor of cryptoactive, There are results that have not been seen yet.
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