The post Donald Trump’s Crypto Executive Order is Coming Soon In Next 5 Days appeared first on Coinpedia Fintech News
The crypto world is buzzing with excitement as former U.S. President Donald Trump is expected to announce a major executive order on Bitcoin and cryptocurrencies in the next few days. This announcement could bring significant changes, providing clarity on crypto regulations. Amidst this Larry Fink CEO of BlackRock believes Bitcoin could rise $700,000.
Trump’s Plan for a Strategic Bitcoin Reserve
One of Trump’s big promises is to establish a Strategic Bitcoin Reserve for the United States. He aims to ensure that the U.S. government keeps all the Bitcoin it currently holds and adds more in the coming years.
He plans to collect 1 million Bitcoins, which would account for 5% of the total Bitcoin supply worldwide, over five years. This idea has already gained traction in several states. Places like Florida, Wyoming, and Massachusetts have introduced bills to include Bitcoin in their state reserves.
For states, holding Bitcoin is crucial as they cannot print money like the federal government. This makes Bitcoin a strong option for securing their financial future.
Clearer Crypto Policies Ahead
Crypto experts believe Trump’s administration could introduce policies that make it easier to invest in and use cryptocurrencies. Anthony Pompliano, a well-known crypto advocate, mentioned three important areas where changes could happen:
Bank Support for Crypto: Allowing banks to safely hold cryptocurrencies for their customers.
U.S. Bitcoin Purchases: Creating a framework for the government to buy Bitcoin as part of its reserves.
Tax Reforms: Simplifying taxes on crypto transactions, especially removing capital gains taxes on purchases made with Bitcoin.
These steps could boost confidence in the market and make the U.S. a leader in the global crypto space.
What’s Next for Bitcoin?
Many experts are hopeful about Bitcoin’s future. Larry Fink, CEO of BlackRock, believes Bitcoin could become a haven during economic struggles. He predicts that if more institutions start using Bitcoin, its price could rise to $500,000 or even $700,000.
With Trump’s upcoming announcement and growing interest from states and institutions, the crypto market could see significant changes in the coming days.