US Government Moves $2 Billion in Bitcoin After Trump's Pro-Crypto Speech

The US government recently transferred $2 billion worth of Bitcoin seized from the Silk Road marketplace.

This significant move followed Donald Trump's pro-cryptocurrency speech during his reelection campaign, where he highlighted Bitcoin's potential as a strategic national asset.

Speaking at the Bitcoin Conference 2024, Trump proposed the creation of a "strategic Bitcoin stockpile" and vowed to retain all Bitcoin currently held or acquired by the government.

He emphasized the importance of Bitcoin mining in the US, pledging to make US energy the cheapest globally to attract mining operations.

Additionally, Trump criticized the current administration's regulatory stance and promised to fire SEC Chairman Gary Gensler to promote a more crypto-friendly environment.

🗣BTC Won’t Wait for Trump.

Although Peter Schiff often spreads bearish sentiments without basis, he did highlight an interesting point:

“If Donald Trump truly planned to use the confiscated BTC for American reserves, he wouldn’t talk about it before taking office. Now, the Biden administration will sell all BTC by November.”

It makes sense. Another factor putting pressure on Bitcoin's price 😨. The U.S. government holds $13 billion worth of Bitcoin.

Keep an eye on their BTC movements.