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Trump, Crypto Champion, Considers Strategic Bitcoin Reserve to Aid Debt Reduction

Dec 26, 2024, 01:00 AM

Former President Donald Trump, who has positioned himself as a crypto champion, is reportedly considering the establishment of a strategic Bitcoin reserve for the United States, akin to a national stockpile. This initiative, dubbed the Bitcoin Strategic Reserve (BSR), would involve using the U.S. Treasury's Exchange Stabilization Fund to acquire Bitcoin. Analysts suggest that such a move could be executed through an executive order, bypassing the need for Federal Reserve approval. The proposal has sparked debate about its potential to transform the U.S. financial system, with CryptoQuant CEO Ki Young Ju arguing that it could serve as a step towards debt reduction. The price of Bitcoin recently hit a milestone of $100,000, reflecting increased demand and warmer political attitudes towards cryptocurrency. However, the feasibility and political challenges of implementing this strategy remain significant hurdles.