The case for countries and states embracing strategic Bitcoin is becoming more tangible as momentum builds in the US following Trump\u00b4s inauguration as president. In his first address to the sector on Feb. 4, White House crypto czar David Sacks said\u00a0exploring<\/a>\u00a0a potential\u00a0Bitcoin reserve<\/a>\u00a0would be \u201cone of the first things we are going to look at\u201d as part of the administration\u2019s internal working group.<\/p>\n In his early days as President, Donald Trump signed an executive order creating a task force to shape US digital asset policies, fueling optimism for widespread crypto adoption. The group has six months to deliver a roadmap, which could define sector regulations and digital asset investment guidelines, along with potentially groundbreaking proposals like a national Bitcoin reserve.<\/p>\n Indeed, some market participants were disappointed Trump did not immediately begin accumulating a strategic Bitcoin reserve. Still, US states are getting serious.<\/p>\n If some of these projects successfully clear their respective legislative procedures, this would mean state-level purchases of Bitcoin very soon\u2014potentially well ahead of any federal government effort.\u00a0<\/p>\n Some state legislation, such as Arizona\u2019s, would allow state treasurers to spend as much as\u00a010% of their public funds on Bitcoin<\/a>, potentially heralding a domino effect among other states. Lawmakers in the US states of Oklahoma, New Hampshire, and Pennsylvania have also proposed allocating up to a tenth of public funds to purchase Bitcoin over a set period.<\/p>\n Reflecting the excitement of many Bitcoin advocates, Eric Trump posted on X on Feb. 5, saying,<\/p>\n \u201cFeels like a great time to enter Bitcoin!\u201d\u00a0<\/p><\/blockquote>\n Advocates for a strategic Bitcoin Reserve (SBR) argue that such an investment could serve as a powerful hedge against inflation and currency devaluation. While central banks can print fiat currencies at will, Bitcoin\u2019s fixed supply could help protect a country\u2019s wealth from the usual risks associated with currency depreciation.<\/p>\n After a strong surge, the price of Bitcoin and other cryptocurrencies\u00a0reversed course<\/a>\u00a0in the early weeks of the Trump administration. Initial enthusiasm gradually gave way to the reality that substantial work remains before any significant progress can be made.<\/p>\n Related:\u00a0<\/strong><\/em>North Carolina House speaker files bill for state to invest in Bitcoin ETPs<\/strong><\/em><\/a><\/p>\n Will these initiatives make it across the finish line, or will they remain symbolic gestures in the wake of the crypto frenzy sparked by Trump\u2019s return to the White House?<\/p>\n \u201cWe have reached the point where there needs to be some actual government purchases, likely led by the Treasury, for the market to be satisfied,\u201d said Eugene Epstein, head of Trading and Structured Products North America at Moneycorp, in an interview with Cointelegraph.\u00a0<\/p>\n \u201cSome corporations have started building their own reserves, but I have a hard time seeing markets move higher unless some sort of national or state-level activity actually begins.\u201d<\/p><\/blockquote>\n Despite concerns and doubts from various analysts, the rapid rise of Bitcoin and digital asset reserve legislation at the state level signals a significant shift in how governments view crypto\u2014perhaps no longer as a speculative asset but rather as a long-term store of value.<\/p>\n Indeed, if the US were to move forward with an SBR, it could fundamentally serve as a massive catalyst for Bitcoin’s growth. But political questions remain, with much uncertainty surrounding whether Trump will be able to deliver on a proposal that would likely require a law change.<\/p>\n The US is already the largest sovereign holder of Bitcoin, largely due to judicial seizures and enforcement. According to BitcoinTreasuries.NET data, the US has amassed over 207,000 BTC\u2014roughly 1% of the total 21 million supply. Initial efforts are likely to focus on managing and addressing this existing stockpile, although the administration has given no definitions so far.<\/p>\n While market participants continue to watch closely, many believe the enactment of the Bitcoin Act could have a more profound long-term impact on Bitcoin than the launch of exchange-traded funds (ETFs). Research from CoinShares in January\u00a0highlighted<\/a>\u00a0that such legislation could elevate Bitcoin\u2019s credibility as an asset class and ease institutional adoption by offering the endorsement of the world\u2019s largest government, potentially providing an even greater boost for crypto than the launch of ETFs did.<\/p>\n Eric Weiss, a board member at mining firm Core Scientific, reflected the optimism on X.<\/p>\n \u201cTrump says, \u2018Don\u2019t sell your Bitcoin.\u2019 His entire admin is pro-Bitcoin. States and nations are building reserves. The writing is on the wall\u2014yet people still overthink it. Just buy Bitcoin and hold.\u201d<\/p><\/blockquote>\n *********************************<\/p>\n If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n EN web Support Chat<\/strong> | Hyips and Crypto questions \u2013 HyipChatEN<\/a><\/strong><\/p>\n Telegram Chat for Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n *********************************<\/p>\n Be the first to get most important HYIP news everyday! If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\nUS states are getting serious about Bitcoin<\/strong><\/h2>\n
Is Bitcoin<\/strong>\u00a0a hedge against inflation?<\/strong><\/h2>\n
A shift in lawmakers\u2019 mindset<\/strong><\/h2>\n
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