The United States could establish a strategic bitcoin reserve within the first 100 days of President-elect Donald Trump's administration, according to a key source. David Bailey, CEO of btc Inc. and instrumental in changing Trump's stance on bitcoin, emphasized the urgency of this initiative amid concerns that other nations could overtake the United States in accumulating btc.
When will bitcoin's strategic reserve become a reality?
Bailey today expressed concern about x, warning that “the United States is at great risk of being ahead of the curve on its bitcoin agenda.” He added: “We must establish the bitcoin Strategic Reserve as quickly as possible. President Trump has the House and the Senate. He has a mandate. “The environment is there for us to get it done in the first 100 days.”
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The United States is at great risk of being at the forefront of its bitcoin agenda. We must establish the bitcoin Strategic Reserve as quickly as possible.
President Trump has the House and the Senate. He has a mandate. The environment is there for us to achieve this in the first 100 days.
— David Bailey $0.85 mm/btc is the floor (@DavidFBailey) twitter.com/DavidFBailey/status/1854357855463178588?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>November 7, 2024
His comments come as speculation mounts within the community about how Trump will deliver on his previous promises. Following Trump's election victory yesterday, his son Eric Trump reinforced this anticipation by responding to MicroStrategy CEO Michael Saylor's “We Have a bitcoin President” statement with a call to action: “America must lead the way.” !”
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America must lead the way! https://t.co/ZThsy0gSNh
—Eric Trump (@EricTrump) twitter.com/EricTrump/status/1854234751512559710?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>November 6, 2024
Notably, US Senator Cynthia Lummis of Wyoming also renewed her advocacy for a national btc reserve on November 6. Yesterday he addressed x to proclaim: “LET'S BUILD A STRATEGIC bitcoin RESERVE.”
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LET'S BUILD A STRATEGIC bitcoin RESERVE
— Senator Cynthia Lummis (@SenLummis) twitter.com/SenLummis/status/1854208373740458432?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>November 6, 2024
In July, Lummis introduced the bitcoin Act, which proposes that the US government purchase up to 200,000 btc per year over a five-year period, for a total of 1,000,000 btc. This legislative push aligns with Trump's view. At the 2024 bitcoin Conference, he advocated turning all btc confiscated by law enforcement into a national “reserve.”
“Many nation states are about to begin adopting bitcoin,” Bailey noted yesterday. Prominent community figures have weighed in on the possible establishment of a strategic btc reserve in the US, emphasizing its global importance.
Dylan LeClair, a respected analyst, x.com/DylanLeClair_/status/1854229841710661675″ target=”_blank” rel=”noopener nofollow”>suggested that time is of the essence: “You have approximately three months until the US government enacts the active accumulation of btc as a strategic reserve asset. Other sovereign countries will quietly lead the way. “The clock has already started.”
Joe Consorti, head of growth at Theya Inc., highlighted the scale of the proposed buildup: “The United States will buy 550 btc/day for 5 years and hold it entirely for a minimum of 20 years.” He described it as “an infinite balance that leads to absolute and immutable scarcity.”
Travis Kling, CEO and founder of Ikigai Asset Management, x.com/Travis_Kling/status/1854212991694111107″ target=”_blank” rel=”noopener nofollow”>reflected
At the time of publication, btc was trading at $74,640.
Featured image created with UEEx, chart from TradingView.com
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