The US Bitcoin reserve: holdings are not the same as purchases

Crypto Reserve – Are the U.S. Really Buying Bitcoin? Or just another lie?

Let’s dive into what’s really going on with U.S. Bitcoin reserves - and where things stand right now!

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The #crypto industry had higher hopes for Donald Trump's Bitcoin reserve. Now, two states are taking the initiative and establishing their own Bitcoin reserves.

Donald Trump had promised during his campaign to establish a strategic Bitcoin reserve for the U.S.
What has become of it?
And are the U.S. really buying Bitcoin?
Here's the current status:

The Crypto Reserve Is a Reality, But...Well not really.

The U.S. President announced the establishment of the reserve, but it initially consists only of digital currencies confiscated by the U.S. through legal proceedings.
Unfortunately, the promises made during the election campaign were quite different here too.
Keeping stolen Bitcoin or assets from criminal cases isn’t new - they just rebranded it as a “strategic reserve,” probably to avoid looking even worse.

Meanwhile these Countries Are Considering a Bitcoin Reserve:

-Brazil: The parliament is to vote on a bill allowing the country to invest up to five percent of its reserves in Bitcoin.

-Hong Kong: Johnny Ng, a member of Hong Kong's Legislative Council, wants to examine the feasibility of a Bitcoin reserve in Hong Kong.

-Russia: According to Russian media reports, MP Anton Tkachev has proposed to the Russian finance minister to consider a Bitcoin reserve.

-Sweden: MP Rickard Nordin has urged Finance Minister Elisabeth Svantesson to investigate whether a Bitcoin reserve would be sensible.

-Taiwan: Taiwanese MP Ju-Chun Ko has called on the central bank to invest 0.1 percent of Taiwan's GDP in Bitcoin.

-Czech Republic: The Czech National Bank is considering the introduction of a Bitcoin reserve.

Other governments and central banks have rejected a Bitcoin reserve, such as the United Kingdom and Poland. Japanese Prime Minister Shigeru Ishiba also expressed negative views on cryptocurrencies. El Salvador was considered a crypto pioneer but has scaled back its Bitcoin activities under pressure from the IMF.

Investors quickly realized that even the U.S. cannot simply purchase cryptocurrencies with taxpayer money. Thus, the euphoria subsided, and with the customs shock, the value of Bitcoin even fell below $75,000 in April thanks to Trumo himself. At Trump's inauguration on January 20, one Bitcoin was still at a peak of over $109,000. And fell after..

Two U.S. States Take the Lead:
In the U.S., there are also various Bitcoin initiatives at the state level. The status of these political initiatives is shown on websites like https://t.co/cO8xdwLOcU and https://t.co/eq7Jz7SWO1.

The following U.S. states have rejected a Bitcoin reserve:

Florida
Montana
North Dakota
Oklahoma
Pennsylvania
South Dakota
Wyoming

In two states, however, the Bitcoin initiatives have been successful. One of them is New Hampshire, which approved the crypto reserve on May 6 as the first U.S. state. The finance minister is now allowed to invest up to five percent of the state fund in Bitcoin and precious metals.

The situation is complicated in Arizona, where Governor Katie Hobbs initially vetoed a bill to introduce a Bitcoin reserve, which drew sharp criticism from the crypto industry.

However, a second initiative was successful: Arizona passed a law on May 7 that now allows the state to establish a Bitcoin reserve. This enables it to invest abandoned assets in Bitcoin and digital currencies, such as forgotten bank deposits.

Over 25 additional initiatives to establish #Bitcoin and #crypto reserves in other states are still pending.

- $MASTR

BTW, we’ve always believed that governments and corporations should keep their hands off DeFi - but that’s no longer something we can stop.