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Over the past year, cryptocurrencies have gained more acceptance and legitimacy in the eyes of government officials and politicians. One positive result of this development is the concept of a Bitcoin and crypto strategic reserve, which aims to create a state-backed store of value similar to the more traditionally held gold reserves.
In this article, we’ll explore what a Bitcoin and crypto strategic reserve is, Trump’s executive order establishing the strategic reserve and the broader political and market implications of such a move.
Key takeaways:
A proposed Bitcoin strategic reserve will position Bitcoin as a state-backed asset, similar to gold reserves.
The BITCOIN Act proposes a US federal Bitcoin reserve that aims to stabilize the US dollar and reduce national debt through strategic cryptocurrency holdings.
US President Trump has signed an executive order on a strategic Bitcoin reserve and digital asset stockpile.