#特朗普签署行政命令 #白宫首届加密货币峰会 #德克萨斯州比特币战略储备法案
Special topic: Trump orders the establishment of Bitcoin reserves; the White House cryptocurrency summit holds its first session.
On Friday, the U.S. will hold a cryptocurrency summit at the White House, attracting global attention. On the eve of the summit, U.S. President Trump signed an executive order to establish a Bitcoin strategic reserve.
However, this should have been positive news that triggered a significant drop in Bitcoin. On Thursday evening Eastern Time, the price of Bitcoin fell by 5% to the $85,000 range, and then slowly rebounded.
An important reason for the market's dissatisfaction with the Bitcoin strategic reserve is that the Bitcoin within this reserve will be entirely composed of Bitcoin seized by the U.S. government from criminal and civil cases. This means the U.S. government will not purchase any additional Bitcoin.
According to Arkham Intelligence, the U.S. currently holds Bitcoin worth about $17 billion, but this figure has not been audited by the U.S. government.
David Sacks, the cryptocurrency czar appointed by Trump, added that the U.S. Secretary of the Treasury and Secretary of Commerce have the authority to formulate budget-neutral strategies to acquire more Bitcoin, provided these strategies do not increase the burden on U.S. taxpayers.
He also revealed that the U.S. government will establish non-Bitcoin reserve assets, composed of any cryptocurrencies seized by the U.S. government in other ways, but he did not specify the names of the specific assets in this category.
Last Sunday, Trump stated that the cryptocurrency reserves to be established would include five cryptocurrencies: Bitcoin, Ether, Ripple, Solana, and Cardano.
Worst outcome
Due to Trump's new executive order prohibiting the government from purchasing new tokens and lacking detailed explanations for the four tokens: Ether, Ripple, Solana, and Cardano, the market experienced a brief sell-off of digital currencies.
Nathan McCauley, CEO and co-founder of Anchrage Digital, who will attend the summit on Friday, stated that establishing a U.S. strategic Bitcoin reserve and digital asset inventory is a significant moment for both cryptocurrency and the U.S.
Matt Hougan, Chief Investment Officer of Bitwise Asset Management, also reassured that the establishment of a Bitcoin reserve reduces the likelihood of the government attempting to ban this asset and greatly increases the possibility of other countries seeing Bitcoin as a strategic reserve.
However, Charles Edwards, the founder of hedge fund Capriole Investments, pointed out that this executive order is almost the worst outcome that the industry could have anticipated. Without a new purchasing plan, the so-called reserves are just 'well-dressed pigs.'
However, the industry has not become despondent. Gerald Gallagher, General Counsel of Sei Labs, emphasized that the historic summit on Friday could still bring some surprises, and the industry leaders present should be able to continue providing advice on the correct policy direction.
