President Donald Trump’s executive order established a strategic US Bitcoin reserve and a national digital stockpile asset is expected to be a catalyst for the broader Bitcoin adoption, according to investment analysts and leaders of the crypto industry.
On March 6, Trump recognized the need to “use” the power of digital assets while Sign The executive command for crypto assets, stating:
“Because there is a fixed BTC supply, there is a strategic advantage over the first countries to create a strategic bitcoin reserve.”
Ryan Rasmussen, the head of research in Bitwise, expects an impact of cascading in which other countries and private investors invest in Bitcoin (Btc) with a modified confidence. “The end of the game has never been ‘the US government bought all Bitcoins around the world,'” he said.
Source: Ryan Rasmussen
Large institutional investors, such as wealth managers, financial institutions and pension schemes, now have “no reason” for increasing exposure to bitcoin and other crypto assets sponsored by the Trump administration.
With reduced sales pressure, the possibility of the US government and individual states taking Bitcoin increased, Rasmussen said, increasing:
“It is possible that the government outlaw is certainly zero.”
Andrew O’Neill, Digital Assets Managing Director in the S&P Global Ratings, noted that the Bitcoin Reservwouldll included only the BTC owned by the US government, specifically owned by the loss of criminals or civil procedures.
The president’s command to hold Bitcoin “is primarily symbolic” for formally recognized as a reserve of possession, O’Neill said. It also created a clear difference between Bitcoin and other crypto assets:
“The order is meditation on the possibility of getting additional bitcoin for the reserve, if it can be done in a neutral budget way.”
Related: Donald Trump signed an Executive Order for Strategic Bitcoin Reserve
In a conversation with Cointelegraph, Ryan Lee, chief analyst in Bitget Research, said he hoped that Trump was opening more details about the Strategic Crypto Reserve on March 7 at the White House Crypto Summit.
According to Lee, the outcome of the summit may significantly influence the regulation of the institution’s landscape and sentiment to digital possession, which moves toward clarity in token classification, tax incentives and reduced implementation actions, possibly abolishing barriers for banks and funds.
“A successful summit can see Bitcoin recovery of $ 100,000 and crypto assets like Ether (Eth), XRP (XRP), and Solana (Sol) Soar, US leadership is cement in global crypto markets. On the contrary, a lack of actionable steps can frustrate investors, emphasizing the high stakes of this event. “
Germany sells 50,000 BTC under
While the discussions of Bitcoin’s global adoption were conducted, many Crypto lovers in X remembered by Germany Non-time decision to sell 50,000 BTC Between June 19 and July 12, 2024, at an average market price of approximately $ 60,000 per BTC.
The German government’s combined income from Bitcoin sales. Source: Arkham Intelligence
The German government has accumulated 50,000 BTC stash through seizures from the movie Piracy Website Movie2K. The sale of proceeds formed around 2.6 billion euros ($ 2.87 billion).
The market value of 50,000 BTC is currently more than $ 4.45 billion, according to Data from Cointelegraph Markets Pro and coinmarketcap. Germany’s quick decision to sell the confiscated Bitcoin costs the government more than $ 1.58 billion, considering market price of $ 88,972.
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