Trump’s Big Plans for Bitcoin Might Never Happen
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Elena is the Features Lead at Cryptonews.com. With a Master's degree in science journalism from City University, London, she is passionate about exploring complex topics in the world of technology.
Key takeaways:
Donald Trump has emerged as the cryptocurrency champion the sector never knew it needed. Coming to the Bitcoin Conference in Nashville, Tennessee, in late July, the former president looked to position himself for the growing influence of crypto on U.S. elections. By the end of his speech, he had made some of the conference’s most bullish statements.
The presumptive Republican presidential nominee said his government will not sell any of the 213,246 Bitcoin seized by U.S. law enforcement from criminal activities. Much of the BTC was taken from the defunct darknet marketplace Silk Road in 2013. Along with future acquisitions, Trump promised, “This will serve, in effect, as the core of the strategic national Bitcoin stockpile.”
The real estate billionaire made a series of ambitious promises throughout his address. Besides the strategic government reserve of Bitcoin, Trump also said he will:
The U.S. holds the biggest amount of Bitcoin of any other government, about $13 billion worth, according to the crypto tracking website Bitcoin Treasuries. That’s the equivalent of 1% of the global supply of BTC, which currently stands at around 19.7 million coins. Bitcoin’s total supply is capped at 21 million tokens.
However, plans for a Federal stockpile faced a reality check days after the conference as the U.S. government moved
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