Today, President Donald J. Trump signed an Executive Order (EO) establishing a Strategic Bitcoin Reserve (SBR). Will this ignite a nation-state FOMO?
On the campaign trail, Trump promised attendees of the Bitcoin Conference in Nashville that he would establish a Bitcoin Strategic Reserve if elected. Another promise made has been kept. The EO states that the USA will hodl its current stack (obtained by seizures) and purchase new coins in a 'budget-neutral' way, e.g., selling gold to buy bitcoin. The EO also paves the way for establishing bitcoin bonds and bitcoin legislation, such as the bill already proposed by Senator Cynthia Lummis.
Bitcoin is the separation of money and state, so I personally would rather see individuals buying and holding bitcoin rather than governments. However, bitcoin is for everyone and this move is certainly positive for bitcoin. It will hopefully lead to further adoption by individuals and private businesses, as well as nation states. Also, we can prolly expect NGU (number-go-up) in the coming days following this announcement, so hold tight to your bags.
Let the Bitcoin global arms race begin!