President Donald Trump is keen to make the United States the first country to hold a strategic reserve of bitcoin, beating Russia and China, Coinbase CEO Brian Armstrong said on January 21.
Speaking at the World Economic Forum in Davos, Switzerland on January 21, Brian It is said He told Yahoo Finance that Trump’s enthusiasm for Bitcoin proves his ambition to make America the “cryptocurrency capital of the planet.”
“He really wants to be the first Bitcoin president,” Bryan said, adding that his meetings with Trump before and after the election focused on the potential of the cryptocurrency industry.
The Coinbase CEO explained that just as the United States has reserves of gold, oil, and rare metals like palladium, Bitcoin is the next logical step.
“The world is moving toward a bitcoin standard for money. Any government that holds gold should also hold bitcoin as a reserve. President Trump understands that.”
The first family’s crypto project
Last Friday, the president launched his official cryptocurrency, Trump (TRUMP), which was marketed under the slogan “Join the Trump Community.” This is history in the making! The currency, developed by the Trump Organization’s CIC Digital, has a carefully managed supply structure.
responsible Website It shows that CIC Digital and its affiliates own 80% of the total supply, and new tokens are scheduled to be issued over three years. Affiliates will reportedly earn revenue from trading fees when selling tokens.
Within 48 hours of its launch, the TRUMP meme coin reached a market cap of $73 billion, briefly surpassing Dogecoin as the largest meme coin. However, its valuation has since dropped to $7.3 billion, according to current data from CoinMarketCap.
The next day, First Lady Melania Trump launched her own meme coin, MELANIA, which currently has a market cap of $732 million.
As Cryptopolitan reported, government ethics watchdogs have raised concerns about the Trump family benefiting from their political positions. Despite the backlash, industry analysts see this as a turning point.
Asset manager Bernstein said: “The launch of the meme coin by the world’s largest political figure is a massive paradigm shift in how governments view cryptocurrencies. This could be the beginning of direct engagement with the masses through blockchain technology.”
Republican Senator Cynthia Lummis, a proud and well-known Bitcoin supporter in Congress, introduced Bitcoin represents From 2024 in July to create a reserve containing 200,000 bitcoins, worth $2.1 billion at current prices.
After Trump’s victory on November 5, she tweeted: “We will build a strategic reserve of Bitcoin.” Yesterday, Loomis met with Eric Trump at the Capitol to discuss reserve plans, according to Bloomberg.
Eric then took to social media, urge Investors to “bet on cryptocurrencies” as part of their belief in America’s limitless potential. “There is no doubt that Biden left a mess, but this mess will be straightened out, and the next four years will be amazing,” he said, anticipating “transformational wealth” under his father’s leadership.
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