Analysis News TheBitTimes.com

US government might use tariffs to buy bitcoin According to a Trump Administration official, it’s legally possible for the US government to use tariff revenue to buy bitcoin (BTC). A mandate in Donald Trump’s executive order establishing the US Strategic Bitcoin Reserve (SBR) said that Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick “ shall develop strategies for acquiring additional Government BTC provided that such strategies are budget neutral and do not impose incremental costs on United States taxpayers.” One of these strategies could be tariff revenue, according to Bo Hines, executive director of the President’s Council of Advisers on Digital Assets. Indeed, in a White House interview with Anthony Pompliano, Hines said he was looking to present “creative” strategies to Bessent and Lutnick that “left no stone unturned,” including tariff revenues or the revaluation of Treasury’s statutorily priced gold certificates. Hines reiter...

Hopes of a US Strategic Bitcoin Reserve took another knock this weekend after Donald Trump’s surprise executive order about a non-bitcoin US Sovereign Wealth Fund. At the press conference covering the order’s signing, pro-Tether Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent told the president that they would explore warrants, equity, and other non-bitcoin investments in their proposal for his requested fund. Trump’s order made no mention of bitcoin (BTC) or digital assets. Worse, his son Eric tweeted that he actually preferred ether (ETH) over BTC at that time. In my opinion, it’s a great time to add $ETH. — Eric Trump (@EricTrump) February 3, 2025 Eric Trump pumped ETH for the US Sovereign Wealth Fund press conference. Dwindling chances of a US Strategic Bitcoin Reserve The disappointment of US Sovereign Wealth Fund political leaders paying no attention to BTC only added insult to injury. In January, rather than creating a...

The cryptocurrency market got a brand new look this year with Donald Trump taking over the US government. The President seems to be getting things done just days after he was sworn in. More recently, Trump signed an executive order to create the Presidential Working Group on Digital Asset Markets. To further stoke suspicions about a possible Bitcoin reserve, the working committee will also assess the establishment of a strategic Bitcoin reserve. Amidst this, the community was highlighting how several countries may soon follow suit. Also Read: BNB Foundation Burns $1.16 Billion in Tokens: What It Means for Investors “Bitcoin Is A Better Form Of Money” Source: Watcher Guru Earlier today, Coinbase’s Brian Armstrong was seen underlining the possibility of G20 nations walking in the footsteps of the US to create a strategic Bitcoin reserve. Armstrong noted how Bitcoin’s market cap currently stands around $2 trillion. This accounts for about 11% of gold’s market ...

Cynthia Lummis, the Republican junior senator from Wyoming, teased via X that “₿ig things are coming!.” The inclusion of the Bitcoin symbol in lieu of the “B” led many to speculate that the announcement was going to be about the promised “Strategic Bitcoin Reserve.” Even Justin Sun, an advisor to President Donald Trump-endorsed DeFi project World Liberty Financial, was excited by the news, quote-posting her announcement of a future announcement and adding that he thought it would be “₿ig things.”  Unfortunately for those caught up in the speculation, it seems likely that Lummis’ post referred to her new role as chair for the Senate Banking Subcommittee on Digital Assets. Honored to chair the Senate Banking Subcommittee on Digital Assets. pic.twitter.com/mWj2hKA0NQ — Senator Cynthia Lummis (@SenLummis) January 23, 2025 Some folks were disappointed by this, especially since this particular news was already rep...