Trump To Keep 100% Of The BTC Held If Elected

In a recent speech at a Bitcoin conference, Donald Trump stated, 'If I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future.' This bold declaration has stirred various reactions within the financial community.

Schiff's Critique

Peter Schiff, a well-known Gold bug and vocal Bitcoin critic, took X to share his views on Trump's statement.

Schiff argued that if Trump intended to use the seized Bitcoin to start a U.S. 'strategic' reserve, he would have kept his intentions a secret until he was in office. Schiff added, 'Now that the Biden administration is wise to his plan, they'll sell every satoshi before Trump takes office.'

'Bitcoin stands for freedom, sovereignty, and independence from government, coercion, and control,' Trump emphasized during his speech in Nashville.

If elected president, Trump also promised to fire SEC Chair Gary Gensler 'on day one.' This move would mark a significant shift in the U.S. government's stance towards cryptocurrency, a point that resonated deeply with the conference attendees.

US DOJ Moves BTC Intensifying The Speculation

In a coinciding event, the U.S. Department of Justice (DOJ) transferred 29,799.99 BTC, worth $2 billion, to an unknown Pay-to-Witness-Public-Key-Hash (P2WPKH) wallet on Monday.

Despite this transfer, the U.S. government still holds 183,439 BTC, valued at over $12 billion, according to Arkham Intelligence data.

Bloomberg analyst James Seyffart suggested that the Bitcoin transfer might be related to a deal between the U.S. Marshals Service and Coinbase.

This adds another intriguing layer to the ongoing discussion as market participants speculate on the underlying reasons for these massive transfers.

Following the $2 billion transfer, Arkham Intelligence reported that the funds were divided into two Bech32 bitcoin addresses: one with 10,000 BTC and the other with 19,799.99 BTC. The firm speculated that the 10,000 BTC might have been sent to an institutional custody service.

This series of events has created a whirlwind of cryptocurrency speculation, debate, and attention. As the political landscape evolves, so too does Bitcoin's strategic positioning within the U.S. government's financial arsenal.