The executive decree of President Donald Trump establishing a reserve of American strategic bitcoin and a national stock of digital assets should be a catalyst for the broader adoption of Bitcoin, according to investment analysts and the leaders of the cryptographic industry.
On March 6, Trump recognized the need to “exploit” the power of digital assets while signing the executive decree of cryptographic assets, which indicates:
“Because there is a fixed supply in BTC, there is a strategic advantage to be among the First Nations to create a Bitcoin strategic reserve.”
Ryan Rasmussen, the chief of research in Bitwise, anticipates a cascade effect where other countries and private investors will invest in Bitcoin (BTC) with renewed confidence. “The end match has never been” the United States government buys all world bitcoin “,” he said.
Source: Ryan Rasmussen
Large institutional investors, such as wealth managers, financial institutions and pension plans, now have no excuse for not increasing exposure to bitcoin and other cryptographic assets approved by the Trump administration.
With the reduced sales pressure, the probability that the American government and individual states get Bitcoin increased, said Rasmussen, adding: adding: adding: adding: adding: adding: adding: adding: adding:
“Probability that the government prohibits Bitcoin is definitely zero.”
Andrew O’Neill, director general of digital assets at S&P Global Ratings, noted that the Bitcoin reserve would only do BTC already owned by the American government, in particular the assets confiscated through criminal or civil procedures.
The order of the president-president to hold the bitcoin “is mainly symbolic” so that Bitcoin is officially recognized as a reserve asset, said O’Neill. He also created a clear distinction between Bitcoin and other cryptographic assets:
“The order plans to acquire additional bitcoin for the reserve, provided that it can be done in a neutral budgetary manner.”
In relation: Donald Trump signs an executive decree for the strategic bitcoin reserve
Addressing Cointelegraph, Ryan Lee, chief analyst of Bitget Research, said that he provided that Trump reveals more details on the Crypto Strategic Reserve on March 7 at the top of the White House cryptography.
According to Lee, the summit result can considerably influence the regulatory landscape and the institutional feeling towards digital assets, moving towards the clarity of the classification of tokens, tax incentives and reduced application measures, possibly staking obstacles to banks and funds.
“A successful summit could see Bitcoin recover $ 100,000 and cryptographic assets like Ether (ETH), XRP (XRP) and Solana (soil) Soar, cement American leadership in the global cryptographs markets. Conversely, a lack of exploitable steps could disappoint investors, highlighting the high issues of this event. »»
Panic Germany sells 50,000 BTC below
Although discussions on the global adoption of Bitcoin are underway, many crypto enthusiasts on X remembered Germany’s decision to sell 50,000 BTC between June 19 and July 12, 2024, at an average market price of around $ 60,000 per BTC.
The cumulative benefits of the German government for the sale of Bitcoin. Source: Arkham Intelligence
The German government had accumulated the hiding place of 50,000 BTC through convulsions of the Piracy Movie2k film website. The sale of the product generated around 2.6 billion euros ($ 2.87 billion).
The market value of 50,000 BTC currently exceeds $ 4.45 billion, according to Cointelegraph Markets Pro and Coinmarketcap data. The hasty decision of Germany to sell the confiscated bitcoin cost the government more than $ 1.58 billion, considering a market price of $ 88,972.
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