(C) Common Dreams
This story was originally published by Common Dreams and is unaltered.
. . . . . . . . . .
A First-Day Trump Order: A Federal Stockpile of Bitcoin? [1]
['David Yaffe-Bellany']
Date: 2025-01-16
A pair of 50-page policy proposals laying out the plan in detail. Discussions about the specifics with President-elect Donald J. Trump and his advisers. And talks with cabinet nominees about how to pay for it.
On the eve of Mr. Trump’s inauguration, the cryptocurrency industry is pushing his incoming administration to execute an audacious plan that would have seemed unimaginable just a year ago: a government program to buy and hold billions of dollars in Bitcoin.
As he campaigned last summer, Mr. Trump vowed to create a federal “Bitcoin stockpile” that would serve as a “permanent national asset to benefit all Americans.” Bitcoin enthusiasts hailed the idea as potentially transformative, claiming that it would help reduce the national debt. Mr. Trump could still abandon the plan, and its details are under debate. But industry executives have spent weeks lobbying to shape the proposal, raising hopes that Mr. Trump might act soon after taking office.
In recent days, crypto executives have offered input to David Sacks, a venture capitalist whom Mr. Trump appointed to oversee crypto and artificial intelligence, on a possible executive order that covers several areas of crypto policy, three people with knowledge of the matter said. The Bitcoin stockpile is part of those discussions, two of them said.
[END]
---
[1] Url:
https://www.nytimes.com/2025/01/16/technology/trump-bitcoin-stockpile.html
Published and (C) by Common Dreams
Content appears here under this condition or license: Creative Commons CC BY-NC-ND 3.0..
via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/commondreams/
