Intimidation of Trump by US Government! Will They Dump All Bitcoins?
There is a lot of talk in the cryptocurrency industry about the US government’s transfer of Bitcoin following Trump’s recent statements.
After Donald Trump’s promise of a “strategic Bitcoin reserve” over the weekend, the cryptocurrency industry is criticizing the US government’s $2 billion Bitcoin transfer.
Mike Novogratz, the founder of Galaxy Digital, was one of the first to criticize the Harris administration, stating, “Are you not listening? Transferring Silk Road Bitcoins just two days after Donald Trump’s promise not to move Bitcoins is, in my opinion, completely foolish.”
Bitcoin Magazine CEO David Bailey, an organizer of the Bitcoin Conference, also voiced his criticism of the government’s actions. “I witnessed the Harris administration preparing to throw away 30,000 Bitcoins just to spite DJT. This would be a major political mistake for the Democrats. They will permanently lose a generation of voters if they continue to squander America’s Bitcoin,” said Bailey.
Many other figures also criticized the US’s BTC transfer, including Peter Schiff, a well-known Bitcoin opponent. Schiff interpreted the transfer from a different perspective, suggesting that the US government is selling its Bitcoin holdings to prevent Trump from using it as a strategic reserve.
Schiff further claimed that if Trump had truly intended to create a Bitcoin reserve, he should have kept his plan secret until after taking office. According to Schiff, Trump’s true goal is not to establish a “strategic Bitcoin reserve.”
“If Trump genuinely intended to use seized Bitcoins to launch the US’s Bitcoin strategic reserve, he would have kept his intentions secret until he actually took office. Now that the Biden administration is aware of his plan, they will make sure to sell every Satoshi before Trump’s inauguration,” Schiff tweeted.
Please note that this article does not constitute investment advice.
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