Final night time, President Trump signed the “Digital Property” executive order (EO), and let’s simply say Bitcoiners are feeling… bitter. Initially, rumors swirled that this is perhaps the lengthy anticipated Strategic Bitcoin Reserve (SBR) laws. However nope — not even shut. Bitcoin reserve didn’t get a single point out.
As an alternative, the EO mentioned:
“The Working Group shall consider the potential creation and upkeep of a nationwide digital asset stockpile and suggest standards for establishing such a stockpile, probably derived from cryptocurrencies lawfully seized by the Federal Authorities via its legislation enforcement efforts.”
Translation: This EO appears like a imprecise “let’s research shitcoins” roadmap somewhat than a daring step towards a Strategic Bitcoin Reserve. When you had been hoping for a nation state orange tablet second, this ain’t it.
However earlier than you rage tweet, take a deep breath. There’s a silver lining. The EO does outlaw CBDCs — an enormous win for freedom cash and a extra Bitcoin-aligned future.
And, as Senator Cynthia Lummis reminded us yesterday, her Strategic Bitcoin Reserve Invoice is “a BIG lift”:
Why is that this excellent news? Let’s break it down:
- Government Orders Are Fragile: EOs are fast to implement however may be simply reversed by the subsequent administration. They’re political Put up-it Notes, not everlasting fixes.
- Laws Is Sturdy: Legal guidelines handed via each homes of Congress are far tougher to repeal. Lummis’ long run technique goals to cement Bitcoin’s position within the U.S. financial system for generations, not simply the subsequent election cycle. She is taking the low time choice route, and I salute her for that.
Senator Lummis mentioned it herself in an X DM she allowed me to share:
“Even when the EO had been an outright Strategic Bitcoin Reserve, the subsequent administration (after Trump) may undo it (what’s achieved administratively can usually be undone administratively). So, so as to get the 20-year minimal HODL, which my invoice requires, and meaningfully tackle America’s debt, now we have to undergo the legislative course of (passage via each the Home and Senate) to get it to the President’s desk for signature.
It’s actually vital that now we have momentum for a marathon, not a dash. I don’t need individuals getting discouraged. The trajectory is to the moon however now we have to keep it up and work the method. Heaps to do however the EO was an incredible jumping-off level to get us there.”
So sure, the EO looks like a fast win for crypto execs wanting to pump their baggage. However the actual struggle for Bitcoin’s future is simply starting.
A congressionally accepted SBR is healthier than an SBR through Government Order. Full cease!
Bitcoin has at all times thrived in adversity. Whether or not it’s bans, restrictions, or now the “nationwide digital asset stockpile” nonsense, Bitcoin’s resilience is unmatched. As Senator Lummis works to push the Strategic Bitcoin Reserve Invoice via Congress, particular person states are already main the cost. States are introducing Bitcoin-specific reserve laws, not imprecise “digital asset” plans.
In the meantime, international momentum is constructing. Putin didn’t say, “nobody can management digital property,” he mentioned “nobody can management Bitcoin”. Nation states aren’t about to FOMO into $TRUMP or FARTCOIN. They’re watching, studying, and inching nearer to Bitcoin.
Bitcoin wins as a result of it’s superior cash. Each piece of reports, even setbacks, is finally bullish for Bitcoin as a result of it exposes weaknesses in fiat and strengthens Bitcoin’s narrative. So keep affected person. The gradual burn will likely be value it.
See you in Vegas — and keep in mind: greatest cash wins.
This text is a Take. Opinions expressed are solely the writer’s and don’t essentially mirror these of BTC Inc or Bitcoin Journal.