Why is Trump making ‘Stratagic Bitcoin Reserve’ in America? What to why, answer every question

Donald Trump has been making decisions one after the other since he became President of America. Many of them are shocking. Now by signing an executive order Trump announced to create a ‘Strategic bitcoin reserve’ in America Is. Trump, who once described a cryptocurrency like bitcoin, has embraced him today.

In this Excellener, we will tell you in very easy words that what is ‘strategic bitcoin reserve’. Let us start with the question of what is cryptocurrency?

What is cryptocurrency?

Cryptocurrency is a form of currency that is digital. He is present in your hand but in the Internet or computer. It uses cryptography to secure transactions.

You take your note out of the ATM to the real world. This is not the case in this. All this happens online in cryptocurrency and your dignity is present as a digital entry in a database. That is, when you transfer to cryptocurrency, the transaction is recorded in a public bookkeeping. Cryptocurrency is stored in digital wallets.

Now you know what is cryptocurrency. Bitcoin is also a kind of cryptocurrency. Established in 2009, bitcoin was the first cryptocurrency and still has the most business.

What is ‘strategic bitcoin reserve’?

Now the matter of ‘Strategic Bitcoin Reserve’. Reserve means keeping something safe for the future use in future. Trump has made a reserve of all bitcoins present with the US government by passing his order. Strategic reserve of any stock makes the purpose that whenever there is a lot of ups and downs in the supply of that stock, then the stock can be taken out and controlled from that reserve.

It has been clearly said that the US government will not sell the bitcoin deposited in this strategic bitcoin reserve. It will be maintained as reserved assets reserved.

According to the White House Crypto Jar David Sachs, it is estimated that the US government has about 200,000 bitcoins. According to the coinmarketcap, the value of every bitcoin currently is around $ 87,000, with the estimated value of the US reserve is about $ 17.5 billion. However, there has never been any audit to find out the exact number of bitcoins present with the government. The executive order passed by Trump includes instructions to do so.

The Trump government has clearly stated that only those cryptocurrency will be kept in both these reserves, which have been found in seizure. This reserve will not depend on the tax money of the American public.

Why are Trump doing this?

Trump’s move aims to support the Crypto industryWhich supported him during his presidential election campaign. On the other hand, supporters of this idea like Trump consider cryptocurrency as national and economic security property like oil or gold. And so they are making its reserve. The White House has said that President Trump is fulfilling its promise to establish America as a global leader in cryptocurrency. He has already appointed “Crypto Jar” and is hosting the Crypto Summit for the first time in the White House on 7 March.

Is it just supporting?

No. According to Forbes reports, the Industry of Cryptocurrency has expressed happiness over the news of the creation of a national reserve, but some economists have expressed concern over it. They point to the instability of cryptocurrency.

Even though the Trump government has clearly stated that it will not buy any bitcoin from the money of taxpayers. Only the cryptocurrency that has been received in the seizure will make reserve. But critics fear that if Trump some time changed his order and starts selling bitcoin, then the price will go down and investors will have a tremendous loss.