A Strategic #Bitcoin reserve has not been listed as an immediate priority in a recent document by the Trump administration.
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So far there has been no sign of the promised pardon on day 1.
Wrapped Bitcoin (WBTC) is a tokenized version of Bitcoin that exists on other blockchain networks, primarily Ethereum, as an ERC-20 token. It enables Bitcoin holders to interact with decentralized finance (DeFi) applications on Ethereum, such as lending, borrowing, and trading.
Security: Bitcoin relies on its decentralized proof-of-work (PoW) consensus. WBTC, however, inherits the security model of Ethereum (proof-of-stake since the Merge).
Decentralization: The wrapping process requires centralized custodians to hold BTC, introducing counterparty risk. This makes WBTC less decentralized than native Bitcoin.
In strange turn of events Trump-Linked Defi Project World Liberty Financial Purchases U.S. $47 Million in Wrapped Bitcoin.
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:saylor: Michael Saylor met with the with the whole :trump: Trump Administration Cabinet.
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:trump: Trump did NOT mention a #Bitcoin Strategic Reserve on Day 1 of office like many prominent analysts predicted.
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I understand where you're coming from. However, it’s possible that necessity, driven by game theory, could play a role. Time is of the essence, and on day one, we’ll see just how "on the ball" this administration truly is. Additionally, it’s worth noting that a handful of prominent figures, including Jack Mallers and Fred Kruger, have proposed that such an announcement might happen on day one.
#Bitcoin is designed to remain indifferent to who holds it—this is one of its core features. Gaining a deeper understanding of #Bitcoin will help address this concern.
From the Bitcoin whitepaper: "As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers."
This design ensures that even if large entities, such as "whales" or governments, hold significant amounts of Bitcoin, they cannot compromise the protocol unless they control the majority of the network's computational power. The security of the Bitcoin network is upheld by the decentralized distribution of mining power among many participants, preventing any single entity from dominating.
In my opinion, Satoshi created the first 'sound money' to serve everyone equally, not as a weapon for the people to use against governments.
My view is that states want to position themselves favorably for the moment the U.S. might establish a national strategic reserve. Game theory comes into play at every level—federal, state, and even individual investors. I’d hate to be the “stick in the mud” state that rejects the idea due to Democratic leanings, only to be left behind if the rest of the country, and the nation as a whole, decide to adopt it.
In general, most state legislatures convene on a fixed schedule (annually or biennially), a bill's journey can range anywhere from a few weeks to well over a year depending on: Legislative Calendar, Committee Process, Political/Public Support, Governor's Signature and other delays.
:opinion: Your opinion:
🇺🇸 #Bitcoin Strategic Reserve on Day 1?
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Wyoming introduces HB0201, a bold step toward a Bitcoin strategic reserve! The bill proposes investing up to 3% of state funds in BTC, with oversight & annual reporting.
Massachusetts proposes a bill to create a Bitcoin reserve, investing up to 10% of its $9B stabilization fund.
🇺🇸 Blackfoot Firefighters Union becomes the first union in Idaho to buy #bitcoin for its balance sheet.
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🇺🇸 Wyoming Representative Jacob Wasserburger introduces legislation for a Strategic #Bitcoin Reserve.
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🇺🇸 Massachusetts Senator Peter Durant introduces legislation for a Strategic #Bitcoin Reserve.
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:coinbase: Coinbase Launches Bitcoin-backed Loan Services for U.S. Users.
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🇺🇸 The U.S. is returning 94k Bitcoin to Bitfinex as restitution for the 2016 hack Originally worth $72 million, it’s now valued at $9 billion!
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🇺🇸 Oklahoma proposes House Bill 1203 to adopt Bitcoin as a state reserve, joining TX & PA.
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