More About Trump's Bitcoin Move
Yes, it looks like the Federal Reserve could be coming to an end - but not overnight
Excerpts from the DailyMail.com (all rights belong to the Daily Mail)…
President Trump signed an executive order to establish a strategic Bitcoin reserve by using the billions in crypto confiscated from cyber criminals like Silk Road's Ross Ulbright and convicted fraudster Sam Bankman-Fried.
Trump made the announcement ahead of a summit with the sector's top players, completing a complete 180 on an industry he once called 'a scam.'
The reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings, Sacks said.
That could include the $6.5 billion in bitcoin from pardoned Silk Road founder Ross Ulbricht, who was sentenced to life in prison for running an underground online marketplace where drug dealers used the currency.
It could also be using the ill-gotten gains of jailed fraudster Sam Bankman-Fried, who was sentenced in March 2024 to 25 years in prison for a massive fraud on hundreds of thousands of customers that unraveled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency.
White House 'crypto czar' David Sacks said the reserve fulfills a campaign promise from Trump.
'The U.S. will not sell any bitcoin deposited into the Reserve,' Sacks said on social media. 'It will be kept as a store of value. The Reserve is like a digital Fort Knox for the cryptocurrency often called "digital gold."'
The Consequences of Setting Up A Digital Reserve
We’re not going to spoil what Tara Servatius had to share this morning, so listen in - and it’s great news…
In this video, Tara mentions Marc Andressen and plays a clip of him on the Joe Rogan Show.
ICYMI - Marc was a staunch Democrat billionaire - until said party made his life very difficult, which Tara explains in the above video.
NOT a good move on any level, especially when he WAS the 6th largest financial supporter for the Democrat party.
So what did he do?
Listen to the above video…
Here’s the full 3-hour show in which Marc shares much more…
Joe Rogan Experience #2234 - Marc Andreessen
President Trump’s January executive order on digital assets would now create a stockpile of currencies, including Bitcoin, Ether, XRP, Solana, and Cardano.
The names had not previously been announced.
More than an hour after signing the EO, Trump added:
'And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve.'
The mere mention of a federal-backed crypto reserve sent the crypto market surging about 10%, adding $329 billion to crypto's market capitalization within hours.
Below is a graph of Bitcoin’s latest spot prices for the last 10 days - the jump occurred on Sunday night with Trump’s announcement, and what followed was disbelief then reassurance in BTN being a new reserve coin…
Does this mean the end of the Federal Reserve?
Well, when have you known Trump to do something half-way?