yesterday I signed an executive order officially creating our strategic Bitcoin Reserve in the last 24 hours Donald Trump signs an executive order to establish a government Bitcoin reserve and this was the night before which is now today the United States made history by hosting their first ever White House crypto Summit this happened today very interesting the attendees that were invited as well as the tokens that they represent watch today's whole video if you want an edge investing in crypto and click subscribe to altcoin daily for a daily breakdown keeping you informed about this space and
let's start with what happened late last night promises made Promises Kept Donald Trump signs executive order establishing us strategic Bitcoin reserve and today we're signing this is very historic and executive order establishing a strategic Bitcoin reserve and digital asset stockpile this is a promise that you made throughout the campaign and today we're keeping that promise the reserve will be capitalized with Bitcoin that the federal government already owns so it won't cost taxpayers a dime this is like a digital Fort Knox for digital gold and uh premature sales of Bitcoin uh over the past years cost
American taxpayers over $17 billion in loss value because we didn't have a long-term strategy right now we do so and this is something you believe in 100% yeah and the whole Community believes very good and I made the promise right absolutely so the broad Strokes on exactly what was signed and what this means to crypto investors and crypto Zar David sex has confirmed that this is accurate Donald Trump's executive order calls for two separate things a strategic reserve and a stockpile the Strategic Reserve is just for Bitcoin the stockpile is just for altcoins and they're
different listen to what Donald Trump said about Bitcoin and the Strategic Bitcoin reserve and then I'll tell you what this means if you hold Bitcoin yesterday I signed an executive order officially creating our strategic Bitcoin reserve and this will be a virtual Fort Knox for digital gold to be housed within the United States Treasury that's a big thing the federal government is already among the largest holders of Bitcoin as you know uh really one of the largest holders in the world with as many as 200,000 Bitcoin obtained via civil law and various other forms of
Law and including enforcement actions these existing Holdings will form the foundation of the new Reserve unfortunately in recent years the US government has foolishly sold tens of thousands of additional Bitcoin coin that were worth billions and billions of dollars had they not sold them but they did sell them mostly during the Biden Administration not a good not a good thing to have done from this day on America will follow the rule that every Bitcoin knows very well never sell your Bitcoin that's a little phrase that they have I don't know if that's right or not
who the hell knows who knows who knows but so far it's been right and well let's keep it that way so essentially what Donald Trump signed into office with the Strategic Reserve is all the Bitcoin about 200,000 that the US government already owns we're going to keep it we're not going to sell it so essentially this strategic Bitcoin Reserve is just more of a stockpile since we're not buying we're just kind of keeping the Bitcoin we already have except except bessent and lutnick so the treasury secretary and the Commerce Secretary have also been given authorization
to explore means of acquiring more Bitcoin through avenues that will not cost the taxpayers this is what makes it a reserve the treasury and commerce departments will also explore new Pathways to accumulate additional Bitcoin Holdings for the reserve provided it's done at no cost to the taxpayers we don't want any cost to the taxpayers and when they say no cost to the taxpayers how would that work how do we get Bitcoin without costing the taxpayers anything well number one we could go through Congress that's with Cynthia Lumis her proposal to buy 1 million Bitcoin over
the next 5 years will'll just use the gold we already have in our reserves and convert some of that to bitcoin so no taxpayer money goes to the Bitcoin we just convert gold to bitcoin meaning bessent and lutnick will probably work with her and get something like this through Congress but also no cost to taxpayers means the United States mining Bitcoin from a government level is also now on the table do you know a way they they could do it without taking taxpayers honestly I say that cuz it's just it's it's the craziest I mean
it's the craziest thing I've ever heard in my whole life well what's interesting to me is that President Trump spent a lot of time with Bitcoin miners on the campaign Trail and it goes to that larger thesis of other countries that are turning either sanctioned energy in the case of Iran or you know idle resources into Bitcoin so that's a way to generate it and yes you of like the energy inputs but you know some of these the biggest minors in the world are based in the United stes core scientific has a lot of operations
across the country and if it goes to a million it's a great idea if it goes down a lot it's a horrible idea and even if it's a horrible idea quote unquote that's just costing the United States energy right we convert energy to bitcoin when you mine but still this is a fundamental shift and a huge green flag for other nation states on the United States now has a Bitcoin strategy of course the Bitcoin price dipped on this news although we are still in the broader uptrend the higher low but why didn't Bitcoin explode after
this well because there was really no announcement that today we're actively mining or actively buying new Bitcoin they will explore those means without costing the taxpayers any more money but just the fact that when we have a strategy and two we are now holding for the long term the Bitcoin we already have this was expected in a sense because Donald Trump promised this so that's why we had a little sell off on the news it was buy the rumor sell the news but fundamentally like right now huge green flag for the longterm Traders control markets
in the shortterm fundamentals like this affect markets in the long term so this was the Strategic Bitcoin reserve and yet we also have a stockpile in altcoin stockpile the executive order also mandates a full audit of the digital assets currently in the government's possession AKA altcoins in addition my order directs federal agencies to conduct an inventory of all crypto assets currently held by the US government and determine how they can be transferred easily to the treasury non-bitcoin digit digital assets will be held in a new US digital asset stockpile where there will be managed properly
my Administration also is working to end the federal bureaucracy's war on crypto all of that will soon be over and we are ending operation choke point 2.0 so crypto is safe to flourish in America not just Bitcoin altcoins are safe to build and flourish in the United States now what's the stockpile well if the government already has digital assets whether they were donated or they just have them from seizures they're going to not buy on the open market anymore but if they already have it they'll keep that in the crypto stockpile the other is a
digital asset stockpile containing assets other than Bitcoin presumably xrp Ada eth and Solana as announced by the president last week and potentially others although crypto Zar David saxs did just clarify claiming that ADA Solana and xrp were only brought up because they rank amongst the largest cryptocurrencies by market cap they're not saying these ones will go in he's saying Trump just said the most popular ones just going into what's in the holding of the US government what going back to what president Trump mentioned over the weekend talking of Ripple salana other alternative point that people
are wondering whether they're going to be included in this stockpile will they does the US own them why mention them by the president well the president just mentioned the top five cryptocurrencies by market cap so I think people are just reading into this a little bit too much he just mentioned the top five uh in terms of what we'll actually have again we have to do the accounting we're not sure that sitting here today whether the federal government owns any of these alternative cryptocurrencies we know it owns Bitcoin I believe it owns some ethereum I'm
not sure about the other ones this is why we have to do the accounting is that to be honest no one's been able to give us a straight answer yet in terms of what the federal government owns and this is part of the problem is that we've never really had a digital asset strategy before and this is why we've you know missed out on accumulating a lot of value for the American people and that brings us to the rest of the White House crypto Summit and also my potential fear in the short term meaning the
next few months in cryptocurrency and I'm talking this out with you because I and I would love to know the altcoin daily Army's thoughts down in the video description but I'm worried in a sense that this was a big deal this was such a big deal that the United States finally has a Bitcoin and crypto strategy and the market didn't really move because it was a little bit of by the rumors all the news this these are things Trump had already been promising for months and it finally happened such a huge deal maybe in four
more months we get an announcement maybe something goes through Congress and we actively start buying Bitcoin that is fundamentally that's a a another huge not shift but you know it puts on the gas it puts on the gas for the United States it puts on a big fomo gas for Other Nation States but in these next two to three months we just had one of the biggest announcements ever and what do we know short term Traders control the market shortterm emotion good or bad but emotion controls the market and do due to Donald Trump's sporadic
tariffs and trade War there is a lot of fear in these next few months are just unknown on what macro is going to bring us will you be shaken out if Bitcoin after these major announcements has another 20% dip I'm not saying to wait for it I'm not saying that it definitely will happen I would love I I think maybe other nation states have started accumulating now and we get a slow choppy but grind upward maybe it's a little boring but it's that grind upward also very possible if you're a member of the altcoin daily
Army you're ready for this you understand market dynamics and you will not be deterred by fear uncertainty doubt when fundamentally fundamentals only looking better and as for what happened the rest of the things that happened in the White House crypto Summit honestly this only lasted about 25 minutes Donald Trump had his opening remarks and then they just sort of went around the table and people could give a comment if they want and and the Winkle VI twins over here and Sergey nazer off of chain link over here basically everybody said the same thing thank you
Mr Trump you're the man this is a new era for crypto in America I just want to express my deep uh gratitude for the seriousness with which you're approaching our industry and how you're actually helping guide it in the right direction um I've worked with many central banks in other countries and when I was working there I was wondering why I as an American citizen can help the United States Financial system Reach This higher level that the world is on course towards generally and so I'm very grateful that finally there's been a new level of
kind of Common Sense and an adoption of of these ideas me and the other people in this room do believe that the crypto blockchain web 3 infrastructure is the next iteration of the financial system and I think that the US should have its leadership position continue in that new Financial system and I'm I'm very very happy to see people like David Sachs secretary bessent secretary letnik taking this very seriously with their time and very to them too so I'm I'm just Overjoyed to see this and that was it not a lot of new information other
than the big the big information which is big enough now also this Summit went on I believe for another 2 and 1/2 hours that was not video videotaped so we don't quite know what the crypto juggernauts spoke to the Trump Administration about I did like this snippet of a video that Brian Armstrong just put out Brian Armstrong coin Bay CEO here just The West Wing is right behind me we just left the digital asset Summit at the White House it was an incredible event really a historic moment for our industry and president Trump has breathed
life back into the crypto industry coinbase is planning to hire about a thousand people here in the United States this year as a direct result of his actions already in the first 60 days or so so these policies really matter fundamental green flag and that is the video my name's Austin if you've made it this far click the like button if you want to support me it makes me feel good lets me know you got value in today's video and let like all see you tomorrow
