• President Trump vows to maintain 100% of Bitcoin held by the US authorities
• Senator Lummis has proposed buying 1 million Bitcoin, whereas RFK Jr. has proposed buying 4 million Bitcoin.
• US authorities holds $11.1 billion value of BTC in felony seizures

Donald Trump, the presumptive Republican candidate for 2024, urged his enthusiastic viewers to carry on to Bitcoin in any respect prices. The presidential candidate's latest marketing campaign has targeted on cryptocurrencies, notably the creation of a nationwide Bitcoin reserve. Trump argued:

“If elected, will probably be the coverage of my Administration to retain 100% of all Bitcoin at present held or acquired by the USA Authorities.”

Trump added that the fund would develop into “the core of the nation's strategic bitcoin reserve.”

Earlier, Trump shared his views on utilizing Bitcoin to cut back the $35 trillion US nationwide debt. In the course of the interview, Trump additional emphasised his purpose of constructing the US the forefront of digital asset development.

However the former president isn’t the one one proposing such measures: Senator Cynthia Lummis has launched a invoice that might permit the U.S. authorities to buy 1 million bitcoins, roughly 5% of the entire provide, whereas unbiased candidate Robert F. Kennedy Jr. has proposed the federal government stockpile 4 million bitcoins.

The U.S. authorities at present holds 203,239 bitcoin tokens, valued at roughly $11.1 billion, which represents roughly 1% of the worldwide bitcoin provide of roughly 19.7 million, based on Blockchain.com.

Arkham Intelligence stated a lot of this cache was seized from on-line darknet entities corresponding to Silk Street, which was dismantled in 2013. In the meantime, non-government traders corresponding to Michael Saylor's MicroStrategy maintain round 226,500 Bitcoin tokens. BlackRock's iShares Bitcoin Belief and Grayscale Bitcoin Belief maintain 344,070 and 240,140 tokens per Bitcoin Treasuries, respectively.

The market professional believes {that a} authorities Bitcoin stockpile might have a constructive impression on Bitcoin's value, however he warns that if the federal government have been to promote a part of its stockpile, the surplus reserves might cut back the variety of tradable tokens, exposing traders to market volatility.

As Trump, Lummus and Kennedy suggest an enormous authorities reserve of Bitcoin, the crypto neighborhood is split on its potential impression. Some see it as a strategy to increase costs and result in acceptance, whereas others fear a few decline in token buying and selling and elevated authorities management. The heightened political curiosity in digital belongings highlights their rising significance in trendy finance.