Investor Luke Gromen believes President Trump should delay creating a national Bitcoin reserve. He argues that a surprise announcement later would be more beneficial than an immediate executive order.
Why the Delay?
Gromen suggests that announcing a Bitcoin reserve on day one would allow investors to buy Bitcoin before the government, driving up the price and reducing the government’s potential gains. He proposes a more strategic approach:
- Secret Accumulation: The government should quietly buy Bitcoin behind the scenes.
- Positive Talk: Trump should continue expressing his support for Bitcoin publicly.
- Surprise Reveal: After accumulating a significant amount of Bitcoin, the government would then announce the reserve, triggering a price surge and maximizing profits.
Gromen emphasizes that this approach would be more effective from a financial and public relations standpoint.
Trump’s Crypto Stance
Trump has shifted his view on cryptocurrencies, moving from criticism to apparent support. At a recent conference, he indicated he would prevent the government from selling seized Bitcoin, suggesting it be held as an investment. He even hinted at using crypto to tackle the national debt, although he didn’t offer specifics. These statements have fueled speculation about a potential Bitcoin reserve.
Current Bitcoin Price
At the time of writing, Bitcoin is trading at $99,147.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always conduct your own research before making any investment decisions./p>
