March 6 President Trump signed an executive decree that establishes a Bitcoin strategic reserve for the United States. This reserve will initially be supported by bitcoins by the US Ministry of Finance in a criminal enterprise. According to Blockchain Arkham Intelligence 198 109 Bitcoinsworth $ 17.7 billion.
- President Trump signed a historical decree, which founded Bitcoin’s strategic reserve for the United States, driven by bitcoins confused in criminal matters.
- With this decision, the United States has become the largest institutional holder of bitcoins in the world, which meant a turning point in the history of this cryptocurrency.
BTCs by the US government
Most of these bitcoins were obtained due to bouts in criminal cases. For example, in November 2020, US authorities confiscated 69,370 bitcoins ($ 960 million at that time) to a hacker who had an illegal online silk path. Recently, in January 2022, 94,636 bitcoins were confiscated at Hacker Bitfinex Ilya Lichtenstein.
Let’s not forget the operation Onimous. In November 2014, the international operations allowed the closure of several illegal sites on the dark website, which led to confiscation approximately $ 1 million in bitcoins.
These seized bitcoins will now be transferred to bitcoin strategic reserves in accordance with Trump’s Regulation. This reserve will be used to protect the US economy from cyber attacks and to support the US dollar.
Bitcoin strategic reserve for the United States
Trump’s decree was considered to be some Recognition of bitcoin value as a strategic income. Others, however, criticized this decision and claimed that the government should not engage in the management of bitcoins.
In any case, creating this reserve indicates Turn in the history of bitcoins. The United States thus becomes the largest institutional holder of bitcoins in the world, before strategy and Tesla.
This decision could also have Geopolitical consequences. Indeed, the United States by accumulating bitcoin reserves protects against dollars and Strengthen their position in the World Economic War.