Former President Donald Trump made several crypto-friendly commitments during his campaign in the past year. One of these promises was the establishment of a Bitcoin strategic reserve. In line with this commitment, he recently issued an executive order to set up such an initiative. The order also mandated the formation of a Digital Asset Stockpile.
The Bitcoin strategic reserve’s purpose is to store BTC as a reserve asset, composed of holdings procured through civil or criminal asset forfeiture proceedings. The US Digital Asset Stockpile aims to fulfill the same role, housing altcoins obtained via similar seizure efforts.
This move has become a hot topic, sparking numerous reactions from the crypto community. Prominent industry figures have shared their thoughts. Among them is Arthur Beitman, co-founder of the Tezos blockchain platform, who described the strategic reserve as an “intriguing idea.” He indicated that only time would reveal its effectiveness.
Alex Shevchenko, Aurora’s CEO and co-founder, labeled the establishment of a BTC reserve a “game-changer,” signifying the acknowledgment of the premier cryptocurrency as a key financial tool by not just businesses but governments as well.
Other insightful opinions came from Anthony Scaramucci and Michael Saylor. Scaramucci, a former White House official, expressed his belief in the BTC reserve, stating it would benefit the United States more than Bitcoin. Michael Saylor, Strategy’s Executive Chairman, hailed the creation of a strategic BTC reserve as a “significant shift in the financial and geopolitical landscape of the 21st century.”
However, the move was not without criticism. Notably, Peter Schiff, a renowned crypto skeptic and gold enthusiast, argued that the decision was driven by political and financial interests.
