Bitcoin News: Expert Explains Why Trump Might Buy 500,000 Bitcoins

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In a recent discussion, SkyBridge Capital founder Anthony Scaramucci was asked whether the U.S. might establish a 'strategic Bitcoin reserve.' Scaramucci did not shy away from the question and expressed confidence that this goal could be achieved. In an interview on the Bankless podcast, Scaramucci elaborated on his views. He pointed out that he has close ties with key political figures who support this initiative, and that the Senate has garnered enough supportive votes, which is crucial as it indicates bipartisan interest in advancing this proposal.

Although many remain skeptical about this shift, Scaramucci remains optimistic. He believes that, with sufficient support, the government could purchase an additional 400,000 to 500,000 Bitcoins on top of the existing 200,000 Bitcoin reserve, ultimately reaching a surprising number.

He further explained: “They might buy another 400,000 or 500,000 Bitcoins. Let me tell you why I think this will happen. Trump wants this to happen and has the support of the Senate Banking Committee. And Tim Scott also wants this to happen, as he will be the chair of the Senate Banking Committee.”

Scaramucci also discussed the possibility of Democratic support, mentioning that previous votes had a bipartisan nature. The voting results indicated that younger Democratic senators were more inclined to support Bitcoin initiatives, while older and traditional politicians like Elizabeth Warren and Sherrod Brown expressed opposition.

Scaramucci's viewpoint is based on a core understanding: Bitcoin, like gold, can serve as a digital reserve asset. He posed a provocative question: “If the U.S. already holds over $600 billion in gold, why not allocate a small portion of that to Bitcoin?” He believes such a move is not impossible and could even create room for Bitcoin by liquidating part of the gold reserves. While the idea of government-supported Bitcoin reserves sounds extremely radical, as people's understanding of Bitcoin's potential as 'digital gold' deepens, this concept seems to be becoming increasingly feasible.

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