Trump's Strategic Bitcoin Reserve Pranstall: Despite the campaign promises, critics say Trump's Bitcoin Reserve initiative is now a political fantasy.
Bechler: Bitcoin undermines US control: Prominent Bitcoin argues that Bitcoin threatens government power and makes the Federal Reserve unconceived or unfeasible.
At the 2024 Bitcoin Conference in Nashville, then Republican presidential candidate Donald Trump elected the code crowd with a bold vision.
“If crypto is trying to define the future, I want it to be mined, built and made in America. If Bitcoin goes to the moon, I want to be the country that leads the way. My administration's policies now hold or earn 100% of all Bitcoins in the US government.”
Fast forward a few months ago. Trump defeats Kamala Harris and steps into the White House. The Bitcoin community is waiting for the launch of what has been promoted as a game-changing policy: the Strategic Bitcoin Reserve in the US.
But has that promise gone into thin air?
The strategic Bitcoin reserve is “awaha,” says the well-known Bitcoiner.
Famous Bitcoin supporters Justin Bechler He declared that the idea of a strategic Bitcoin reserve is nothing more than a “fantasy.”
Becler criticized the Trump administration for failing to follow the promises repeatedly, pointing out:
- No releases for Epstein lists
- There is no Fort Knox Gold Audit
- There has not been any major changes to Ukraine policy
- There is no major deportation
- Intelligence Agency is not accountable
- There is no reversal of policy in the major COVID era
He said it is unrealistic to expect the government to suddenly accept Bitcoin wholeheartedly.
Will the US give up bitcoin dollars?
Bechler argues that Bitcoin threatens the core of government control. The US dollar is not just a currency, it is a tool of influence.
- Funding the operation
- Manage your debt
- Economically dependent on allies
- Controls internal stability
Bitcoin, on the other hand, is decentralized, transparent, unprotected, and cannot be printed or frozen, making it the opposite of what the central government wants.
“Replacing the dollar with Bitcoin is about dismantling the US government's management engine,” Bechler argues.
Can the US also manage Bitcoin Reserves?
Referring to the Treasury report, Bechler points out that the IRS had already mistakenly seized Bitcoin the previous year. He questioned whether the federal government is capable of managing a $1 trillion digital reserve.
Strategic Bitcoin Reserve: a political theatre or a real plan?
In Bechler's eyes, those still pushing the US strategic Bitcoin reserve are either politicians chasing headlines or, worse, misleading “bad actors.”
