President Trump recently signed an Executive Order titled “Strengthening American Leadership In Digital Financial Technology,” which outlines the government’s support for digital assets and blockchain technology. However, the document does not mention Bitcoin, which is a cause for concern.
One of the key points in the document is the potential creation of a national digital asset stockpile, derived from cryptocurrencies seized by the Federal Government. Bitcoin is one of the 17 digital assets currently held by the government. The idea of stockpiling these assets seems unnecessary, as most of them do not hold the same value proposition as Bitcoin.
Bitcoin stands out from other digital assets due to its scarcity and decentralization. It has consistently outperformed other cryptocurrencies in consecutive bull markets, making it a more viable option for a national crypto reserve. Even experts in the field, such as Ryan Selkis, advocate for a Bitcoin-only approach.
Therefore, it is suggested that President Trump considers swapping the other 16 digital assets for Bitcoin to strengthen the nation’s digital asset stockpile. This approach has proven successful for countries like El Salvador, which have embraced Bitcoin as a savings technology. By prioritizing Bitcoin, the United States can demonstrate its understanding of the unique value proposition that Bitcoin offers compared to other digital assets.