Key Points
- Nic Carter praises Trump’s decision to establish a Strategic Bitcoin Reserve.
- Bitcoin’s price fell by nearly 4% despite the announcement of the Bitcoin Reserve.
Venture Capitalist Nic Carter recently expressed his approval of the decision by the Trump administration to set up a Strategic Bitcoin Reserve.
Carter’s Perspective
Carter, who is recognized for his investigative work into the Biden administration’s attempts to suppress the cryptocurrency industry, identified several positive outcomes from the White House Crypto Summit. He commended the Trump administration’s decision to distinguish the strategic Bitcoin reserve from the altcoin stockpile. Carter speculated that the decision to purchase altcoins would be delegated to Congress.
“Bitcoin has received the official endorsement of the U.S. government, no other coin has,” Carter elaborated.
Contrary to expectations, the announcement of the Bitcoin Strategic Reserve led to a decrease in Bitcoin’s value. As of the last update, Bitcoin’s value had dropped by almost 4% in the previous 24 hours of trading, slipping below the $90,000 mark and trading at $88,362.
Reserve Fund and Future Prospects
Carter also noted that the Bitcoin reserve fund would be assembled using Bitcoin seized by the federal government in criminal or civil asset forfeitures. Echoing AI and crypto expert David Sacks’ comments following the White House Crypto Summit, Carter stated that the reserve would not be funded by taxpayer money, preventing public backlash.
In a separate post, Carter humorously suggested that if Bitcoin founder Satoshi Nakamoto is revealed to be a member of the National Security Agency with approximately 1 million BTC stored in Fort Meade, Trump’s executive order would ensure these funds are never sold.
Following the White House Crypto Summit, David Sacks announced that President Trump had signed an executive order to establish a Strategic Bitcoin Reserve. Sacks stated that the U.S. government currently holds around 200,000 BTC in seized assets, though a complete audit has yet to be conducted.
