Innovación Digital Venezuela
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🚨THE BITCOIN RESERVE APPROVED AND BTC PLUMMETS🚨
What's happening???
Let me explain:
Today #BTC has made history again, and Trump has definitively signed the executive order establishing the Strategic Reserve of #Bitcoin
An order with the following details known:
The Reserve will be capitalized with the #Bitcoin owned by the federal government that has been confiscated as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a single cent.
It is estimated that the United States government owns around 200,000 bitcoins, although it will be subject to an audit.
The United States will not sell any bitcoin deposited in the Reserve. It will be kept as a store of value.
Premature sales of bitcoins have already cost U.S. taxpayers more than $17 billion in lost value. Now the federal government will have a strategy to maximize the value of its holdings.
The Secretaries of the Treasury and Commerce are authorized to develop budget-neutral strategies to acquire additional bitcoins, as long as such strategies do not have incremental costs for U.S. taxpayers.
But why is it falling then??
Well, there are several reasons, but personally, I think several things are coming together. First, we have a Sell the News event, which has led many investors to liquidate their holdings and take profits after the news.
Then we have the long liquidation, which has surged after the drop, leaving the ground quite clear for new movements.
And finally, we have the FUD being generated AROUND THIS ANNOUNCEMENT, with fears that this reserve will only consist of the confiscated Bitcoins and that no new BTCs will ever be purchased.
However, I want to make an important clarification on this, and that is that it is true that the reserve has been announced with the confiscated funds with the aim of not incurring any cost to taxpayers, but this announcement is very, very positive.
What's happening???
Let me explain:
Today #BTC has made history again, and Trump has definitively signed the executive order establishing the Strategic Reserve of #Bitcoin
An order with the following details known:
The Reserve will be capitalized with the #Bitcoin owned by the federal government that has been confiscated as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a single cent.
It is estimated that the United States government owns around 200,000 bitcoins, although it will be subject to an audit.
The United States will not sell any bitcoin deposited in the Reserve. It will be kept as a store of value.
Premature sales of bitcoins have already cost U.S. taxpayers more than $17 billion in lost value. Now the federal government will have a strategy to maximize the value of its holdings.
The Secretaries of the Treasury and Commerce are authorized to develop budget-neutral strategies to acquire additional bitcoins, as long as such strategies do not have incremental costs for U.S. taxpayers.
But why is it falling then??
Well, there are several reasons, but personally, I think several things are coming together. First, we have a Sell the News event, which has led many investors to liquidate their holdings and take profits after the news.
Then we have the long liquidation, which has surged after the drop, leaving the ground quite clear for new movements.
And finally, we have the FUD being generated AROUND THIS ANNOUNCEMENT, with fears that this reserve will only consist of the confiscated Bitcoins and that no new BTCs will ever be purchased.
However, I want to make an important clarification on this, and that is that it is true that the reserve has been announced with the confiscated funds with the aim of not incurring any cost to taxpayers, but this announcement is very, very positive.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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