Odaily News Regarding Trump's recent signing of an executive order requiring an assessment of strategic national digital asset reserves, industry insiders believe that this is a historic step for the crypto industry, although some people had expected the government to directly order the establishment of a strategic Bitcoin reserve.
“This is, in my opinion, the best outcome we could have hoped for and a great sign that the government is willing to consider this move,” said Rob Hadick, general partner at Dragonfly. However, he noted that the idea of the U.S. government directly purchasing cryptocurrencies would likely be met with opposition, “which would be strongly opposed by most traditional economic advisors… I expect that when all is said and done, the results will likely disappoint the market.”
Others highlighted the global significance of the proposal. Brandon Potts, partner at Framework Ventures, said: "If the government does start buying cryptocurrencies on the open market, it could have a domino effect, prompting other countries to follow suit - even if they are not completely confident in the cryptocurrency space - just to stay competitive."
The executive order proposes a six-month evaluation period, but some VCs think the process could be faster. “If they wanted, they could probably finish the framework in a few weeks, taking inspiration from the spirit of cryptocurrency’s rapid execution,” said Tribe Capital’s Revsin. “We do expect they will continue to build the reserve and it will include the purchase of crypto assets, starting with Bitcoin and potentially expanding to other digital assets over time.”
While the specifics of the plan remain uncertain, venture capitalists say the executive order has made one thing clear: Crypto is now a priority for the Trump administration, and the coming months will determine the extent to which the U.S. is willing to embrace digital assets at a national level. (The Block)
Earlier news, US President Trump signed an executive order to establish the Presidential Digital Asset Market Working Group to strengthen the US leadership in the field of digital finance. The task force is to develop a federal regulatory framework for managing digital assets (including stablecoins) and evaluate the creation of strategic national digital asset reserves.