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Yesterday, President Trump signed an Executive Order (EO) entitled \u201cStrengthening American Leadership In Digital Financial Technology<\/a>.\u201d<\/p>\n The document outlines the ways in which the U.S. government will embrace \u201cdigital assets\u201d and support the rights of citizens and businesses to engage with \u201ccryptocurrencies\u201d and \u201cblockchain technology.\u201d<\/p>\n Bitcoin isn\u2019t mentioned once in the document.<\/p>\n Most concerningly, it\u2019s not mentioned in the portion of the document that addresses the potential for the President\u2019s Working Group on Digital Asset Markets (also established via the EO) to create a \u201cstockpile\u201d of digital assets.<\/p>\n Here\u2019s exactly how it reads:<\/p>\n \u201cThe Working Group shall evaluate the potential creation and maintenance of a national digital asset stockpile and propose criteria for establishing such a stockpile, potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.\u201d<\/p>\n Bitcoin is one of 17 digital assets the Federal Government has seized.<\/p>\n "stockpile" is jargon that means holding what they have, but not necessarily buying anything <\/p>\n according to @arkham<\/a>, here's all the coins that the USG holds over $1m pic.twitter.com\/CtLEuP5utA<\/a><\/p>\n — Alex Thorn (@intangiblecoins) January 23, 2025<\/a><\/p><\/blockquote>\n The idea that the government would hold onto the 16 other crypto assets the government is holding is both silly and pointless, as none of those other assets were designed to be a store of value, and a chunk of them are just digital versions of the ever-debasing U.S. dollar.<\/p>\n In other words, there\u2019s no reason for the U.S. to stockpile digital assets that are perpetually losing value versus bitcoin. Without even getting into the features that differentiate bitcoin from the other assets on the list above \u2014 like its hard-coded perfect scarcity or its network\u2019s level of decentralization \u2014 one needs to only take note of the fact that no digital asset has ever made subsequent highs versus bitcoin in consecutive bull markets to understand why it makes sense to only hold bitcoin.<\/p>\n I mean, even someone whose company evaluates shitcoins for a living agrees:<\/p>\n I didn\u2019t donate $12 million to Kamala or cost the GOP three additional Senate seats like Ripple did.<\/p>\n But I\u2019m still gonna try to help @realDonaldTrump<\/a> and team understand why XRP is the poster child for why we shouldn\u2019t have a national crypto reserve.<\/p>\n Bitcoin Reserve or nothing.<\/p>\n — Ryan Selkis (d\/acc) \ud83c\uddfa\ud83c\uddf8 (@twobitidiot) January 24, 2025<\/a><\/p><\/blockquote>\n So, please President Trump, beef up the bitcoin stockpile by swapping the 16 other digital assets you\u2019re holding for bitcoin, and let\u2019s call it a day. Surely, you\u2019ve seen how well the bitcoin-only approach has worked out for President Bukele<\/a>, with whom you spoke just the other day. <\/p>\n It\u2019s time to show the world that we understand that bitcoin is the savings technology and that everything else is, well, something else.<\/p>\n\n
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