Recently, President Trump issued an executive order (EO) titled “Strengthening American leadership in digital financial technology. “
This important document details how the US administration plans to incorporate “digital assets” and defend the rights of people and companies to interact with “cryptocurrencies” and “blockchain technology.”
Notably, Bitcoin is absent from any mention within the EO.
Alarmingly, it is particularly missing from the section discussing the potential formation of a digital asset “stock” by the President’s Task Force on Digital Asset Markets, which was also established through this EO.
The exact wording states:
“The task force will evaluate the feasibility of establishing and maintaining a national digital asset repository and suggest criteria for its creation, possibly using cryptocurrencies legally seized by the federal government through its law enforcement operations.”
Bitcoin is among 17 digital assets that the federal government has seized.
“Stockpile” is slang for holding what you have, but not necessarily buying anything
according @arkhamHere are all the coins the USG holds over $1M pic.twitter.com/ctleup5uta
– Alex Thorn (@intangiblecoins) January 23, 2025
The concept of the government choosing to retain the other 16 crypto assets in its possession seems absurd and pointless, as none of these were intended to serve as a store of value, and many are simply digital iterations of the devaluing US dollar.
Simply put, there is no justification for the United States to accumulate digital assets that continually lose value compared to Bitcoin. Before considering unique features like Bitcoin’s fixed scarcity or its highly decentralized network, one must recognize that no digital asset has reached new all-time highs against Bitcoin in successive bull markets, illuminating why a focus on Bitcoin alone is the logical approach.
Even industry professionals who analyze minor cryptocurrencies acknowledge this:
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 understands why XRP is the poster child for why we shouldn’t have a national crypto reserve.
Bitcoin reserve or nothing.
– Ryan Selkis (D/ACC) 🇺🇸 (@twobitidiot) January 24, 2025
So, President Trump, it may be time to upgrade your bitcoin collection by trading the other 16 digital currencies for bitcoin and moving forward. Surely you have noticed how successful The bitcoin-only strategy has been for President Bukelewith whom he recently had a conversation.
It is crucial to show the world that we recognize Bitcoin as the true savings technology, while everything else simply falls short.
