Official announcements from the U.S. Securities and Exchange Commission

Trump Excited About Strategic Bitcoin Reserve, Aims to Be First Bitcoin President

Jan 21, 2025, 09:07 PM

Coinbase CEO Brian Armstrong has expressed that President Donald Trump is enthusiastic about establishing a Strategic Bitcoin Reserve for the United States. Armstrong, who has met with Trump both before and after the election, believes that Trump aims to be the 'first Bitcoin President.' Armstrong argues that the U.S. should hold Bitcoin in reserve, similar to its reserves in gold, oil, and various rare minerals, as he perceives a global shift towards a Bitcoin standard for money. This proposal comes amid recent moves by Trump into the cryptocurrency space, including the launch of the Trump coin and Melania coin. The Trump coin, officially called Trump (TRUMP-OFFICIAL-USD), quickly rose to a market cap of $73 billion before dropping to $7.3 billion, while Melania coin reached a market cap of $732 million. These developments have sparked discussions about the future of cryptocurrency regulation and adoption, especially with Trump's appointment of crypto advocate Paul Atkins to lead the Securities & Exchange Commission (SEC) and venture capitalist David Sacks as an AI and crypto czar.