Former President Donald Trump, now a candidate for the Republican presidential nomination, announced a new campaign promise for a strategic Bitcoin reserve in the United States if he is re-elected. He promised that the country would never sell any of the bitcoins it currently holds.
“If elected, it will be the policy of my administration for the United States of America to hold 100 percent of all bitcoin that the US government owns or acquires in the future,” he said. “This will in fact serve as the core of the national strategic Bitcoin stockpile.”
The U.S. government currently holds about $14 billion in bitcoin, most of it acquired through Department of Justice seizures. As predicted by Fundstrat's head of digital asset strategy, Sean Farrell, following through on plans not to sell any of the country's existing holdings would support bitcoin's price. Bitcoin soared after Trump finished his speech, but was almost unchanged.
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