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Howard Lutnick confirms that the U.S. established a Bitcoin Strategic Reserve. Full details are still pending.
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Commerce Secretary Lutnick says that Bitcoin could be tracked in the future like gold by U.S. economic reports.
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Bitcoin is nearing $94,300 as traders watch for signs of the U.S. government adopting Bitcoin.
The crypto world is watching closely as April 29 marks 100 years since President Donald Trump began his second term. Some experts believe that Trump’s announcement of a U.S. Bitcoin Reserve could send Bitcoin prices to $100,000. The prediction market Polymarket only gives it a 6% probability, but there is still one day to go.
What is happening with the Bitcoin Reserve?
In a recent interview with Bitcoin Magazine, U.S. Commerce Secretary Howard Lutnick shared some interesting insights about Bitcoin and its potential to play a larger role in the American economy. The U.S. Government’s Bitcoin Strategic Reserve was one of the most interesting aspects of the conversation. Lutnick could not reveal how much Bitcoin is held by the U.S. government or how it’s managed. However, he did confirm that the details will be released to the public when the time comes.
He said that this reserve was set up to show support for Bitcoin and to keep the promise made by Donald Trump while he was in office. “We created the Bitcoin reserve to demonstrate that this administration supports Bitcoin, and its community,” Lutnick said.
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“We know that Donald Trump and the United States of America are trying to reset global commerce to make it fairer for America. He said that he is currently trying to bring peace to the world. “I think after that we can put Bitcoin on the agenda,” he added.
Lutnick took the time to explain how, under the previous administration, trading or owning Bitcoin felt like something wrong. But things have changed, explaining that America rarely rejects anything once it accepts it.
Could Bitcoin become part of official U.S. economic data?
Lutnick also discussed the idea of including Bitcoins in official economic indicators like GDP and trade deficits.
Lutnick said that it was a good idea, and worth exploring. “It would interesting to track Bitcoin the same way that we track gold,” said Lutnick. Bitcoin is currently trading at $94,329.
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