The new playbook - Crazy Thing Cycle
1. Trump does a crazy thing
2. Prime Minister of Israel Netanyahu flies over to the Whitehouse for an emergency visit to try and protect Israel from the crazy thing
3. The Prime Minister of Japan calls Trump to negotiate, has a productive discussion about the crazy thing
4. UK Prime Minister Keir Starmer would like to have a discussion with Trump to negotiate. Wants to position the UK in a moderate position halfway between the crazy thing and normal things, to act as a bridge
5. European Union says the crazy thing is crazy and it will consider its options
6. China wants to do a crazy thing of its own, to show it cannot be bullied
7. Russia stays quite, because Russia seems to benefit from the crazy thing
8. American business leaders all want to speak to Trump to convince him that the crazy thing is crazy
9. Trump backs down and announces he will stop the crazy thing. It was all a bluff! Art Of The Deal. Trump supporters say it was all 5D chess and somehow worked
Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve.
The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime.
It is estimated that the U.S. government owns about 200,000 bitcoin; however, there has never been a complete audit. The E.O. directs a full accounting of the federal government’s digital asset holdings.
The U.S. will not sell any bitcoin deposited into the Reserve. It will be kept as a store of value. The Reserve is like a digital Fort Knox for the cryptocurrency often called “digital gold.”
Premature sales of bitcoin have already cost U.S. taxpayers over $17 billion in lost value. Now the federal government will have a strategy to maximize the value of its holdings.
The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers.
IN ADDITION, the Executive Order establishes a U.S. Digital Asset Stockpile, consisting of digital assets other than bitcoin forfeited in criminal or civil proceedings.
The government will not acquire additional assets for the Stockpile beyond those obtained through forfeiture proceedings.
The purpose of the Stockpile is responsible stewardship of the government’s digital assets under the Treasury Department.
PROMISES MADE, PROMISES KEPT
President Trump promised to create a Strategic Bitcoin Reserve and Digital Asset Stockpile. Those promises have been kept.
This Executive Order underscores President Trump’s commitment to making the U.S. the “crypto capital of the world.”
I want to thank the President for his leadership and vision in supporting this cutting-edge technology and for his rapid execution in supporting the digital asset industry. His administration is truly moving at “tech speed.”
I also want to thank the President’s Working Group on Digital Asset Markets — especially Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick — for their help and support in getting this done. Finally Bo Hines played a critical role as Executive Director of our Working Group.
BREAKING: US COMMERCE SECRETARY HOWARD LUTNICK SAYS STRATEGIC #BITCOIN RESERVE "WILL BE ANNOUNCED" AT TRUMP WHITE HOUSE SUMMIT
"OTHER TOKENS WILL BE TREATED POSITIVELY BUT DIFFERENTLY."
THIS IS MASSIVE 🚀
It is interesting to me that they say "other digital assets" vs only mentioning Ether. Will be interesting to see how far and how quickly the ETF industry pushes envelope (which is something its good at). Wouldn't be surprised if they pounce on SEC vulnerability and file all kinds of coins (kinda like they have in Europe) to test the limits.
It is interesting to me that they say "other digital assets" vs only mentioning Ether. Will be interesting to see how far and how quickly the ETF industry pushes envelope (which is something its good at). Wouldn't be surprised if they pounce on SEC vulnerability and file all kinds of coins (kinda like they have in Europe) to test the limits.
Breaking: If the @SECGov does approve the $ETH @ethereum ETF it will be one of the biggest regulatory 180s in recent SEC history and proof that the crypto crowd is a legitimate voting block, securities lawyers tell me. All the guidance coming from @GaryGensler was that he was even going to declare $ETH a security, which would have made it a complete no go. But that’s not what we’re hearing now after people like @JohnEDeaton1 made their voices heard and Dem lawyers heard them and got glittery about losing the Senate. Again don’t believe anything until you see the press release but if this is approved, it’s a big f—-ing deal
TRUMP'S CAMPAIGN TO ACCEPT CRYPTO DONATIONS
The presidential campaign of the Republican candidate Donald Trump officially launched a fundraising page that will allow donors to make contributions in cryptocurrencies on Tuesday.
"Biden surrogate Elizabeth Warren said in an attack on cryptocurrency that she was building an "anti-crypto army" to restrict Americans' right to make their own financial choices. MAGA [Make America Great Again] supporters, now with a new cryptocurrency option, will build a crypto army moving the campaign to victory on November 5th," Trump's campaign noted.