Trump Administration Faces Growing Pressure from Crypto Industry to Establish Strategic Bitcoin Reserve Within First 100 Days
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Crypto Industry Lobby Trump to Issue an Executive Order for a Bitcoin Reserve Within First 100 Days
Key stakeholders in the crypto industry are currently engaging with President-elect Donald Trump’s administration, urging him to issue an executive order establishing a strategic Bitcoin reserve within his first 100 days in office. The push is fueled by the industry’s optimism following Trump’s pro-crypto stance and comments suggesting the possibility of a Bitcoin reserve.
According to a Reuters report, Trump plans to issue a series of executive orders across various sectors, including energy and immigration. Crypto stakeholders are now demanding that their sector also be included on this list with an order setting up a strategic Bitcoin reserve coming within the first 100 days of Donald Trump’s presidency.
Besides the executive order for a Bitcoin reserve, key stakeholders in crypto are also pushing for access to banking services and the establishment of a crypto council. The industry is seeking a reversal of the trend experienced during the Biden administration, where over 30 tech and crypto founders associated with venture capitalist Marc Andreessen’s firm, Andreessen Horowitz, were debanked.
The appointment of David Sacks as Crypto and AI Czar and Paul Atkins as a potential replacement for Gary Gensler at the Securities and Exchange Commission has been seen as a positive development by many in the industry. Both candidates are largely pro-crypto and their appointments suggest that Trump’s administration is committed to fostering an environment conducive for innovation within the crypto space.
Several analysts have weighed in on the possibility of a strategic Bitcoin reserve for the United States, discussing the feasibility and potential benefits of such an initiative. The Bitcoin Policy Institute, a US-based think tank, has drafted various executive order options for President Trump to establish a Bitcoin reserve. According to Zack Shapiro, head of policy at the institute, establishing a Bitcoin reserve would align with the US’s geopolitical aspirations while maintaining its status as a world power.
The potential establishment of a Bitcoin reserve is seen as a game-changer by many in the industry, who believe it would set the stage for other jurisdictions to follow suit and drive up demand and prices for Bitcoin.
Source: www.crypto-news.net
