Bit coin new update

 Bitcoin as US Strategic Reserve, A Smart Decision

Bitcoin is often touted as a potential replacement for the US dollar as a global reserve currency, given that the eventual total supply of the cryptocurrency will be limited anyway.   Experts in favor of this position say that because the final number of Bitcoin's supply is already determined, it can be a means of preserving assets on a global level, which will be protected from monetary effects such as inflation, while remaining outside the international financial system.   As a result, Bitcoin is frequently compared to gold or another precious metal. Central banks of most countries around the world still hold most of their assets in the form of US dollars or gold.    So far, only one country has established a strategic reserve of cryptocurrencies.   This country is the Latin American state of El Salvador.

 On the other hand, the governments of many countries also have a number of cryptocurrencies, including Bitcoin, which they have either confiscated during legal proceedings against criminal groups or they have done so to avoid international economic and financial sanctions.

Trump Declares a Cryptocurrency Strategic Reserve Not only did US President Donald Trump recently hold a crypto summit at the White House, he also announced a few days earlier that the US would establish a secure national strategic repository of some of the world's largest and most stable cryptocurrencies.

Supporters of the use and trade of cryptocurrencies applauded the announcement, but skeptics argued that the decision by President Trump would jeopardize the funds paid by American taxpayers to purchase cryptocurrencies. because of the rapid change in cryptocurrency prices on the global market.

Which cryptos should the US Strategic Reserve use? In a recent post on the social media platform "Truth Social," President Trump stated that he had signed an executive order in January to establish a strategic cryptocurrency reserve. According to Trump, the major digital currencies that this reserve will contain will include the world's largest cryptocurrency Bitcoin (BTC), Ethereum or Ether (ETH), Ripple or XRP, Solana (SOL) and Cardano (ADA).

 According to President Donald Trump, he intends to "make America the crypto (currency) capital of the world" after the sector was ignored for years by the previous US administration led by his predecessor, President Biden.

 Trump's idea that a strategic financial reserve should be established in the US in the form of cryptocurrencies is not exactly new politically.   American National Public Radio NPR reported just last week that a Republican senator had even introduced such a bill in the US Senate on July 1 last year, in which it was said that the United States should purchase one million bitcoins as national financial safe assets.

How many bitcoins do the United States currently own? According to Arkham Intelligence, an organization that keeps records of information about cryptocurrencies, various US law enforcement agencies currently have a total of 198,109 bitcoins, which is worth approximately 18.1 billion US dollars.

 Most of these bitcoins are those that have been seized by US institutions during operations against criminals or gangs, particularly money laundering or human trafficking gangs.

 As far as the purpose of strategic reserve is concerned, any such stockpile of critical resources is established so that it can be used in critical situations and at the time of need.

 For instance, the United States of America has also established a strategic gasoline reserve with the intention of ensuring that, in the event of an oil shortage, gasoline will always be available to American consumers.