Washington, Aug 20: US President Donald Trump has signaled that his administration is open to expanding America’s holdings of Bitcoin and other cryptocurrencies, while urging Congress to pass landmark legislation to secure the nation’s leadership in digital finance.
Speaking at a White House meeting with financial regulators and cryptocurrency industry leaders, Trump acknowledged that acquiring substantial quantities of digital assets was under discussion.
“Well, it’s been talked about,” he said. He added that he would rely on recommendations from Securities and Exchange Commission Chairman Paul Atkins, Commodity Futures Trading Commission Chairman Michael Selig, and other officials.
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“I think I’d probably rely on Paul and the whole group for that. He’ll make a decision; you guys will make a decision, and you’ll let me know, but certainly it’s been talked about,” Trump remarked.
The President argued that cryptocurrency had eased pressure on the US dollar, though he did not provide supporting data. “It’s taken a lot of pressure off the dollar; it’s been very, very good for the dollar,” he said. Trump added that he would welcome formal recommendations from regulators, noting, “It seems to be a pretty big subject.”
Trump also revealed that his administration had already established a United States Strategic Bitcoin Reserve, making Bitcoin a permanent Treasury asset.
