According to BlockBeats, Strike CEO Jack Mallers revealed on the Timcast program that former President Donald Trump plans to establish a strategic Bitcoin reserve for the United States through an executive order on his first day in office. Mallers explained that Trump's team is considering leveraging the broad powers granted by the Dollar Stability Act, which allows the president to protect the dollar, to create a reserve of Bitcoin. This reserve is expected to be significant, though not reaching one million Bitcoins.
Previously, U.S. Senator Cynthia Lummis proposed the 2024 Bitcoin Act, which suggests that the Federal Reserve and the Treasury Department should purchase 200,000 Bitcoins annually over five years, accumulating a total of one million Bitcoins. This amount would represent approximately 5% of the global Bitcoin supply. Last week, Trump expressed a positive outlook on the idea of establishing a Bitcoin reserve similar to the strategic petroleum reserve. During an appearance at the New York Stock Exchange, he told CNBC that his administration plans to undertake significant initiatives in the cryptocurrency sector.
