Yesterday, President Trump signed an Executive Order (EO) titled “Strengthening US leadership in digital financial technology.”
The document outlines ways the US government will embrace “digital assets” and support the rights of citizens and businesses to interact with “cryptocurrencies” and “blockchain technology.”
Bitcoin is not mentioned even once in the document.
Most worryingly, there is no mention in the part of the document that addresses the possibility of the President’s Working Group on Digital Asset Markets (also established through the EO) creating a “reserve” of digital assets.
This is exactly how it reads:
“The Task Force will evaluate the potential creation and maintenance of a national reserve of digital assets and propose criteria for establishing such a reserve, potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.”
Bitcoin is one of 17 digital assets seized by the federal government.
"reservations" is slang that means keep what you have, but not necessarily buy anything
according @arkhamHere are all the coins that the US government owns for more than 1 million dollars pic.twitter.com/CtLEuP5utA
– Alex Thorn (@intangiblecoins) January 23, 2025
The idea of the government holding on to the 16 other crypto assets it owns is foolish and useless, since none of those other assets were designed to be a store of value, and a portion of them are just digital versions of forever. -Devaluation of the US dollar.
In other words, there is no reason for the United States to stockpile digital assets that are perpetually losing value against bitcoin. Without even going into the characteristics that differentiate Bitcoin from the other assets on the list above, such as its perfect coded scarcity or the level of decentralization of its network, one only has to take note of the fact that no digital asset has reached subsequent highs. versus bitcoin in consecutive bull markets to understand why it makes sense to only own bitcoin.
I mean, even someone whose company makes a living evaluating shit agrees:
I didn’t donate $12 million to Kamala or cost the GOP three additional Senate seats like Ripple did.
But I’ll still try to help @realDonaldTrump and the team understand why XRP is the example of why we should not have a national crypto reserve.
Bitcoin reserve or nothing.
– Ryan Selkis (f/acc) 🇺🇸 (@twobitidiot) January 24, 2025
So please, President Trump, increase your bitcoin reserves by trading the other 16 digital assets you have for bitcoins, and let’s call it a day. Surely you have seen how Well, the bitcoin-only approach has worked for President Bukele.who you spoke to the other day.
It’s time to show the world that we understand that bitcoin is the technology of savings and that everything else is, well, something else.
