Trump Establishes U.S. Strategic Bitcoin ReserveRussia Expands Crypto Use
The U.S. creates a 'digital Fort Knox' while Russia leverages cryptocurrency to bypass sanctions and bolster trade with China and India.
- President Donald Trump signed an executive order to create a Strategic Bitcoin Reserve, likened to a 'digital Fort Knox,' using seized Bitcoin from civil and criminal cases.
- The reserve will initially hold approximately 200,000 Bitcoin worth $17 billion, with provisions to add more assets if acquisitions remain budget-neutral.
- Russia is reportedly using Bitcoin and other cryptocurrencies to facilitate trade with China and India, circumventing international sanctions imposed after the Ukraine invasion.
- The Bank of Russia has softened its stance on cryptocurrencies, allowing limited investment and supporting crypto's use in international trade.
- Critics question the volatility of Bitcoin compared to gold, but proponents argue its rarity and transparency make it a modern strategic asset for governments.
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