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Will the US Government Sell All its Bitcoins? Trump Faces Intimidation!
Will the US Government Sell All its Bitcoins? Trump Faces Intimidation!
The cryptocurrency community is abuzz with speculation about the US government’s Bitcoin transfer following Trump’s recent remarks.
Author:
Elif Azra Güven
30.07.2024 – 11:55
Update:
6 seconds ago
0
The cryptocurrency industry is criticizing the US government’s $2 billion Bitcoin transfer in response to Donald Trump’s promise to create a “strategic Bitcoin reserve.”
One of the prominent critics is Mike Novogratz, the founder of Galaxy Digital, who called the Harris administration’s decision to transfer Silk Road Bitcoins just two days after Trump’s promise “completely foolish.”
David Bailey, CEO of Bitcoin Magazine and one of the organizers of the Bitcoin Conference, also expressed his disapproval of the government’s actions.
“I witnessed the Harris administration’s plan to dispose of 30,000 Bitcoins just to spite DJT. This would be a major political mistake for the Democrats. If they continue to disregard America’s Bitcoin, they will lose an entire generation of voters,” Bailey warned.
Other than Novogratz and Bailey, many others have criticized the US government’s BTC transfer.
Will the USA Sell All its Bitcoins?
Peter Schiff, a prominent Bitcoin opponent, has offered a different perspective on the US government’s Bitcoin transfer.
Schiff believes that the Biden administration will sell all its BTC holdings to prevent Trump from using Bitcoin as a strategic reserve.
He also argued that if Trump truly intended to create a Bitcoin reserve, he should have kept it a secret until after taking office. According to Schiff, Trump’s primary goal is not to establish a “strategic Bitcoin reserve.”
“If Trump truly intended to use confiscated Bitcoins to establish a US Bitcoin strategic reserve, he would have kept his intentions secret until he assumed office.
“Now that the Biden administration is aware of his plan, they will ensure that every Satoshi is sold before Trump takes office.”
If
#Trump
truly intended to use confiscated
#Bitcoin
to establish a US “strategic” reserve, he would have kept his intentions a secret until actually in office. Now that the
#Biden
administration is wise to his plan, they’ll make sure to sell every Satoshi before Trump takes office.
— Peter Schiff (@PeterSchiff)
July 29, 2024
*This is not investment advice.
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