Final night time, President Trump signed the “Digital Property” govt order (EO), and let’s simply say Bitcoiners are feeling… bitter. Initially, rumors swirled that this could be the lengthy anticipated Strategic Bitcoin Reserve (SBR) laws. However nope — not even shut. Bitcoin reserve didn’t get a single point out.
As a substitute, the EO stated:
“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 by its regulation enforcement efforts.”
Translation: This EO appears like a obscure “let’s examine shitcoins” roadmap fairly than a daring step towards a Strategic Bitcoin Reserve. If you happen to have been hoping for a nation state orange capsule 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 elevate”:
Why is that this excellent news? Let’s break it down:
- Govt Orders Are Fragile: EOs are fast to implement however might be simply reversed by the subsequent administration. They’re political Submit-it Notes, not everlasting fixes.
- Laws Is Sturdy: Legal guidelines handed by each homes of Congress are far more durable to repeal. Lummis’ long run technique goals to cement Bitcoin’s function 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 stated 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) might undo it (what’s achieved administratively can typically be undone administratively). So, in an effort to get the 20-year minimal HODL, which my invoice requires, and meaningfully tackle America’s debt, we’ve got to undergo the legislative course of (passage by each the Home and Senate) to get it to the President’s desk for signature.
It’s actually vital that we’ve got momentum for a marathon, not a dash. I don’t need folks getting discouraged. The trajectory is to the moon however we’ve got to keep it up and work the method. Heaps to do however the EO was an ideal jumping-off level to get us there.”
So sure, the EO seems like a fast win for crypto execs wanting to pump their luggage. However the true combat for Bitcoin’s future is simply starting.
A congressionally accepted SBR is best than an SBR through Govt 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 by Congress, particular person states are already main the cost. States are introducing Bitcoin-specific reserve laws, not obscure “digital asset” plans.
In the meantime, world momentum is constructing. Putin didn’t say, “nobody can management digital belongings,” he stated “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. Every bit of stories, even setbacks, is in the end bullish for Bitcoin as a result of it exposes weaknesses in fiat and strengthens Bitcoin’s narrative. So keep affected person. The sluggish burn will probably be value it.
See you in Vegas — and bear in mind: finest cash wins.
This text is a Take. Opinions expressed are totally the creator’s and don’t essentially replicate these of BTC Inc or Bitcoin Journal.
