Donald Trump

Bitcoin

Silk Road

President Donald Trump

Peter Schiff, a well-known Bitcoin skeptic, has suggested that the U.S. government may soon sell all of its Bitcoin holdings.&nbsp;
This speculation comes in response to a recent transfer of $2 billion worth of Bitcoin, previously seized from the Silk Road marketplace, into two new government-controlled wallets.
This transfer <a href="https://www.cryptotimes.io/2024/07/30/us-gov-moves-2b-silk-road-bitcoin-price-drops-below-67k/" rel="noopener noreferrer nofollow">occurred</a> two days after former President Donald Trump made headlines at the Bitcoin Conference 2024 with his proposal to use Bitcoin as a strategic reserve if he were to return to office. Trump’s announcement was seen as a major shift in U.S. policy towards cryptocurrencies, hinting at a significant role for Bitcoin in the country’s financial strategy.
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 If <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Trump</a> really intended to use seized <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> to start a U.S. "strategic" reserve, he'd have kept his intention a secret until he was actually in office. Now that the <a href="https://twitter.com/hashtag/Biden?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Biden</a> administration is wise to his plan, they'll make sure to sell every Satoshi before Trump takes office.— Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1818032988665606162?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 29, 2024</a>
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Schiff views the government’s move as a strategic response to Trump’s proposal. He believes the Biden administration may aim to liquidate the Bitcoin holdings before a possible Trump presidency could implement his reserve plan. Schiff argues that Trump would have kept his Bitcoin reserve plans secret to avoid provoking the current administration.
 However, Bloomberg analyst James Seyffart has <a href="https://www.cryptotimes.io/2024/07/30/coinbase-deal-may-be-behind-us-govts-2b-btc-transfer/" rel="noopener noreferrer nofollow">suggested</a> that the Bitcoin transfer might be related to a deal between the U.S. Marshals Service and Coinbase. This adds another layer to the ongoing discussion about the relationship between government actions and cryptocurrency.

“U.S Govt May Sell All Its Bitcoin Holdings” — Peter Schiff

The Crypto Times

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