2. How to acquire reserves? Without spending taxpayer money
The U.S. government clearly states:
Source of reserves: Only using Bitcoin seized from previous cases (e.g., seized from hackers)
Operating principle: Only hoarding, not selling, but also not spending money to buy new coins
Currently, the government holds approximately 200,000 Bitcoins (worth $18 billion), equivalent to finding a safe for these 'ill-gotten gains'.
3. There are currently three key points.
① Legal process is lengthy: Presidential signature is just the first step, Congressional approval is also needed, expected to take several months
② Technical challenges: Bitcoin is not gold, the government needs to research how to store it securely (e.g., using offline wallets)
③ Historical lessons: The government previously sold Bitcoin at low prices, resulting in over $100 billion losses for taxpayers
State situations
Texas has taken the lead in promoting a local Bitcoin reserve bill, main content:
Allows state governments to hold Bitcoin as an asset
Must be stored offline and regularly audited
Prohibition on receiving Bitcoin of unknown origin
Eighteen states in the U.S. are following up with similar plans
5. The most perplexing question: Who should the stolen coins from Bitfinex be returned to?
Nearly half of the Bitcoin held by the U.S. government comes from the 2016 Bitfinex exchange theft, now facing a dilemma:
Exchange's claim: These coins should be returned to us, we have compensated users with tokens
User protests: When compensation was provided, Bitcoin was only a few hundred dollars, now its value has multiplied by a hundred times
Current legal documents show that the government is more inclined to return the coins directly to the exchanges. Once the news broke, the exchange token LEO surged 40%.
6. Future policy indicators
This Friday's White House crypto summit will discuss more significant topics:
National Crypto Reserve 2.0: May include mainstream coins like Ethereum, Solana, etc.
New stablecoin regulations: Large companies issuing stablecoins will be directly regulated by the Federal Reserve
Tax incentives: May simplify cryptocurrency tax processes, even offering tax exemption policies
Key points for the average person to understand:
Do not chase highs in the short term: Policy implementation will take time, market volatility will continue
Long-term benefits: Government holding Bitcoin equates to a de facto recognition of its value
