{"id":9395,"date":"2024-11-27T17:06:26","date_gmt":"2024-11-27T23:06:26","guid":{"rendered":"https:\/\/es.middlemen.network\/?p=9395"},"modified":"2024-11-27T17:24:33","modified_gmt":"2024-11-27T23:24:33","slug":"crypto-sectors-pressure-on-trump-a-national-bitcoin-reserve","status":"publish","type":"post","link":"https:\/\/es.middlemen.network\/en\/crypto-sectors-pressure-on-trump-a-national-bitcoin-reserve\/cryptos\/middlemennetwork\/","title":{"rendered":"Crypto Sector\u2019s Pressure on Trump: A National Bitcoin Reserve?"},"content":{"rendered":"

Investors push Trump to establish a national bitcoin reserve to tackle U.S. debt, but the proposal sparks significant debate among experts.<\/strong><\/span><\/p>\n

What\u2019s Behind the Crypto Sector\u2019s Fierce Campaign Against Trump?<\/strong><\/h3>\n

The cryptocurrency sector has ramped up its efforts to shape the agenda of U.S. President-elect Donald Trump. Leading executives and investors are advocating for the creation of a strategic national bitcoin reserve, a bold proposal that they claim could help address the nation’s ballooning debt, now exceeding $36 trillion.<\/p>\n

As reported by\u00a0The Washington Post<\/em>, the initiative has gained momentum following bitcoin’s near-record high of $100,000 after Trump\u2019s electoral victory. Advocates argue that bitcoin, often referred to as “digital gold,” offers a unique opportunity to bolster national finances amidst global economic uncertainty.<\/p>\n

The Goal: A Strategic Bitcoin Reserve<\/strong><\/h3>\n

Currently, the U.S. government maintains reserves in gold, foreign currencies, and oil to safeguard economic stability. Crypto industry leaders believe that adding bitcoin to this framework would be a forward-thinking move, citing its finite supply as a guarantee of long-term value growth.<\/p>\n

\u201cIf you don\u2019t store this asset, which is essentially digital gold, your adversaries will find ways to monetize it,\u201d said Cody Carbone, president of the Digital Chamber, a crypto industry lobbying group. According to Carbone, a bitcoin reserve could prepare the United States for \u201cmassive financial success.\u201d<\/p>\n

However, the crypto executives are not just asking Trump to hold bitcoin. They are urging the administration to invest billions of dollars in acquiring the cryptocurrency and holding it for decades, hoping its value will skyrocket and help reduce the national debt.<\/p>\n

Trump\u2019s Relationship with the Crypto Sector<\/strong><\/h3>\n

During his presidential campaign, Trump promised to make the U.S. \u201cthe bitcoin capital of the planet.\u201d At the Bitcoin 2024 conference last July, the then-candidate announced plans to establish a national reserve using bitcoins seized by the Department of Justice. This declaration excited the crypto community and intensified pressure for him to follow through.<\/p>\n

The proposal comes amid growing global interest in cryptocurrencies, driven by their perceived role as disruptive assets and increasing adoption of blockchain technologies.<\/p>\n

Economic Criticism: Risks and Costs<\/strong><\/h3>\n

Despite enthusiasm from the crypto sector, the proposal has drawn strong criticism from economists and fiscal experts. One primary concern is bitcoin\u2019s inherent volatility, with its value subject to dramatic fluctuations. This could pose significant financial risks for taxpayers if the government invests heavily in bitcoin at peak prices, only to see its value plummet.<\/p>\n

Mark Zandi, chief economist at Moody\u2019s Analytics, argued that while the proposal could benefit current bitcoin investors, it offers little advantage for the average taxpayer. \u201cI understand why crypto investors love the idea. Beyond that, I don\u2019t see the value\u2014especially if taxpayers must foot the initial bill,\u201d he said.<\/p>\n

Additionally, funding a bitcoin reserve through borrowing could exacerbate the national debt rather than reduce it, as the government would need to repay loans with interest. Critics warn that such a move could worsen the very problem the plan aims to solve.<\/p>\n

A Debate Beyond Economics<\/strong><\/h3>\n

The proposal to create a national bitcoin reserve raises broader questions about the government\u2019s role in adopting emerging technologies and balancing innovation with financial stability. While proponents emphasize the strategic and disruptive potential of the initiative, critics highlight the speculative risks and lack of regulation in the crypto market.<\/p>\n

The outcome of the crypto sector\u2019s push on Trump could shape not only the trajectory of the digital economy in the United States but also the future of cryptocurrencies as a strategic asset on a global scale.<\/p>\n

By Orlando J. Guti\u00e9rrez<\/em><\/strong><\/p>\n\n\n

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Investors push Trump to establish a national bitcoin reserve to tackle U.S. debt, but the proposal sparks significant debate among experts.<\/p>","protected":false},"author":1,"featured_media":9400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_joinchat":[],"footnotes":""},"categories":[83,14,8],"tags":[88,496,167,300,353,493,495,494,497,180],"class_list":["post-9395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-comercio","category-cryptos","category-economia","tag-bitcoin","tag-crypto-industry","tag-cryptocurrency","tag-digital-economy","tag-donald-trump","tag-economic-policy","tag-national-reserve","tag-public-debt","tag-public-finance","tag-united-states"],"acf":[],"_links":{"self":[{"href":"https:\/\/es.middlemen.network\/en\/wp-json\/wp\/v2\/posts\/9395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/es.middlemen.network\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/es.middlemen.network\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/es.middlemen.network\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/es.middlemen.network\/en\/wp-json\/wp\/v2\/comments?post=9395"}],"version-history":[{"count":2,"href":"https:\/\/es.middlemen.network\/en\/wp-json\/wp\/v2\/posts\/9395\/revisions"}],"predecessor-version":[{"id":9401,"href":"https:\/\/es.middlemen.network\/en\/wp-json\/wp\/v2\/posts\/9395\/revisions\/9401"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/es.middlemen.network\/en\/wp-json\/wp\/v2\/media\/9400"}],"wp:attachment":[{"href":"https:\/\/es.middlemen.network\/en\/wp-json\/wp\/v2\/media?parent=9395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/es.middlemen.network\/en\/wp-json\/wp\/v2\/categories?post=9395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/es.middlemen.network\/en\/wp-json\/wp\/v2\/tags?post=9395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}