Let's talk about the executive order signed by Trump to establish a strategic reserve for Bitcoin. It mainly includes the following points:
1. The existing nearly 200,000 directly converted into reserves, and any subsequently confiscated BTC will also enter this reserve. However, one important point is that these approximately 200,000 Bitcoins have not yet been audited, and some may still need to be returned to others, so they are not entirely the government's. Therefore, the final amount that may be included in the reserves could be less than 200,000, perhaps even less than 100,000.
2. The executive order only governs the government, so Trump's words carry weight, and a single directive can be passed directly, but the authority is quite limited, only covering departments like the Treasury Department and the Commerce Department. He also cannot use taxpayer money to buy, which is why there is a budget-neutral statement, meaning no separate budget will be opened to purchase Bitcoins.
3. The budget needs to be approved by Congress, which is a slow and difficult process involving hundreds of people, and there are opposing parties that won't all listen to Trump. Moreover, even if it is truly passed, the money is not easy to release. However, it is certainly of higher specification than the current executive order.
4. Bitcoins have now upgraded to a national-level reserve asset. Its nature has changed. It still has positive significance. Many people feel this is useless, but it certainly isn't. The idea of Bitcoin becoming a national strategic reserve was proposed by Trump last year when he was not yet president. After Trump was elected, even before he took office, federal and state legislators began proposing the establishment of a budgeted Bitcoin reserve. This time, Trump's confirmation of reserve assets through an executive order will further promote subsequent actions.
5. It is also important to understand that Trump's confirmation and the senators' push for the 'Bitcoin Strategic Reserve' bill at the federal level are not the same thing. The former can be directly controlled by the government, while the latter requires legislative approval from Congress. The latter aims to buy one million Bitcoins in five years. The market is more looking forward to the latter, but the former does not negate the latter. Additionally, various states are currently advancing Bitcoin reserve bills. As for the current situation, the table above has been sent, generally, there has not been a vote yet, but two states have already passed a vote in one chamber, and more time is needed. All these pending votes in various states and Congress are budgeted, and once passed, they will bring in new funding.
Good things take time and require patient waiting. $BTC