Will Trump bring a ‘Strategic Bitcoin Reserve’?
Last Updated on 13 February 2025 by CryptoTips.eu
American cryptocurrency fans have tempered their enthusiasm for the new Trump administration. Since November of last year, they have been waiting for Donald Trump’s promised announcement that a ‘strategic Bitcoin reserve’ would be set up for the United States. Crypto bros still think it will happen, although doubts are growing.
The Americans are not the only country thinking about the idea, but they are the only one that could significantly push the price.
Lagarde
The question has already been posed to Christine Lagarde, head of the European Central Bank. She claimed at all times that she is “confident” that “bitcoin will not enter the reserves of any of the central banks of the ECB’s governing members”.
However, the way major Wall Street firms view Bitcoin has changed in the past few months. BlackRock started a Bitcoin ETF in January 2024 and ever since then the price has risen noticeably. The fact that the largest investment fund in the world is willing to invest in Bitcoin contributes to the fact that ‘boomer’ investors are now also buying into crypto.
Lummis
Still, to start a “strategic Bitcoin reserve,” Trump would likely need approval from Congress, and even though he has a majority there, many will say that the plan, as put forward by Senator Cynthia Lummis, to purchase a million Bitcoins over five years would work against their own benefit (i.e. the US dollar).
Trump’s plan to turn the American economy into a crypto superpower will probably have to wait a while.
