Skip to content
- The U.S. plans to acquire up to one million Bitcoin under the proposed “BITCOIN Act.”
- Trump now calls Bitcoin “amazing” after previously labeling it a scam in 2021.
- White House considers using gold reserves to fund massive Bitcoin purchases.
President Donald Trump has reversed his earlier stance on Bitcoin, now endorsing it as a vital component of America’s economic and security strategy. His government is actively trying to change its policies to make the country a leader in cryptocurrency, which is a significant change, according to his earlier criticism of cryptocurrencies.
Trump, who once described Bitcoin as a scam in 2021, now commends its impact on financial growth and innovation. He has admitted the importance of Bitcoin in generating employment and reducing tension on the American dollar, describing it as amazing.
The same new direction has changed the administration’s approach to the subject since officials are now talking of Bitcoin as digital gold. According to the Director of Digital Assets at the White House, Bo Hines, the US government is not only identifying the ways in which Bitcoin has an acceptable long-term value but is also trying to hoard tons of Bitcoin.
Importantly, it is proposed that America use its gold reserve to purchase more Bitcoin without incurring new tax obligations. The US government currently has approximately 200,000 BTC, mostly confiscated during police work. The roadmap proposed in the suggested “BITCOIN Act” aims to secure up to a million Bitcoins within the following years.
Such a move makes the United States one of the most significant Bitcoin store assets in the world. The action is aimed at allowing Washington additional leverage in developing the digital asset scene and ensuring that outside forces like China are not used to dominate the industry.
White House Ramps Up Crypto Regulation Amid Strategic Bitcoin Push
In addition to accumulation, the Trump administration is also lobbying toward regulatory certainty to help the digital asset economy. This entails supporting bills such as the “GENIUS Act” and a draft that seeks to establish regulations for stablecoins and offer clear instructions on investments regarding wider digital assets, known as the “Digital Asset Market Clarity Act.”
The bills are the administration’s commitment to making the US a safe and innovative territory for blockchain and crypto companies. The focus is on protecting investors and creating responsible development in the digital environment.
This bigger picture indicates that strategic master planning is being considered for implementing Bitcoin as part of the country’s economic and geopolitical game map. Trump’s current position indicates that crypto policy will become a constituent of national interest, along with financial technologies on par with defense, trade, and monetary policy.
The shift in the policy concerning Bitcoin made by the Trump administration created a new step in the US approach to digital assets. As the scale of acquisitions is high and the changes in regulation are on their way, Washington seems willing to become an international authority in the field of cryptocurrencies.
Also Read: Ripple Ends Legal Battle with SEC as Both Parties Withdraw Appeals
