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The new U.S. policy establishes a Bitcoin strategic reserve, bringing favourable information to the crypto market.
The Crypto Space Stirs Again: The Impact of New Policies on Bitcoin Reserves
Recently, a piece of news regarding Bitcoin's strategic reserves has sparked widespread discussion in the cryptocurrency community. It is reported that a new executive order will establish Bitcoin strategic reserves, and this move is seen as a significant support for the cryptocurrency industry.
According to reliable sources, the main content of this new policy includes:
The reserves will be based on the existing Bitcoin controlled by the federal government, and future Bitcoins confiscated through law enforcement actions will also be included.
These Bitcoins will not be sold during the current government's term.
The government will not allocate funds specifically to purchase Bitcoin, maintaining budget neutrality.
This initiative is seen as fulfilling previous commitments.
In-depth Analysis of Policy Impact
The introduction of this policy has sparked various interpretations:
It is important to clarify that this "Bitcoin strategic reserve" is a different concept from the "Bitcoin strategic reserve" bill promoted by a certain senator at the federal level. The former is directly controlled by the government and does not require congressional legislation; the latter, however, needs to go through congressional procedures and may provide a dedicated budget for purchasing Bitcoin.
From an administrative perspective, this policy does fulfill some commitments. However, from a broader perspective, some of the previously proposed grander plans, such as building a more comprehensive federal strategic reserve, are still yet to be realized.
In the future, there may be more policies regarding Bitcoin reserves. However, the measures that can be taken at the administrative level are relatively limited. Some more radical initiatives, such as using foreign exchange stabilization funds to purchase Bitcoin, although theoretically feasible, may bring about many subsequent issues.
It is worth noting that the current policymakers tend to adopt a high-profile approach with limited substantive impact, which may be aimed at testing and expanding the boundaries of administrative power. Therefore, we should be cautious about the more exaggerated commitments that may arise in the future.
Although the process of Bitcoin entering the national financial system has encountered some resistance, this trend is still slowly progressing. We need to keep an eye on the progress of the formal Federal Reserve Act, as well as the legislative trends regarding Bitcoin reserves in various states.
The introduction of this policy has undoubtedly injected new vitality into the cryptocurrency market, but its long-term effects remain to be seen. Investors and industry participants should closely monitor the direction of policies while maintaining rational judgment.