Tap to Trade in Gate Square, Win up to 50 GT & Merch!
Click the trading widget in Gate Square content, complete a transaction, and take home 50 GT, Position Experience Vouchers, or exclusive Spring Festival merchandise.
Click the registration link to join
https://www.gate.com/questionnaire/7401
Enter Gate Square daily and click any trading pair or trading card within the content to complete a transaction. The top 10 users by trading volume will win GT, Gate merchandise boxes, position experience vouchers, and more.
The top prize: 50 GT.
.”
The original goal of this strategic reserve was to hold 1 million Bitcoins, so I believe they will soon start accumulating.
Cathie Wood believes that cryptocurrencies have become Trump’s “political life-saving token.” Facing the upcoming midterm elections, if the Republicans suffer a loss, Trump will face the risk of being sidelined; moreover, there are many reasons why Trump continues to support cryptocurrencies, including his family’s growing interests in the industry and the fact that the “crypto community” is a key driver in helping him win the election. All these factors make Trump continue to be the “strongest backer” of the crypto world. She said:
The most important point is that he doesn’t want to be a “lame duck.” Trump hopes to achieve something in the next one or two years, and he clearly sees cryptocurrencies as a path to the future.
Looking back at the US presidential election, the cryptocurrency industry has already become an influential political force. Besides political action committees (PACs) like “Stand With Crypto” donating heavily in elections across the country, several high-level figures, including Cathie Wood, have personally supported Trump.
Meanwhile, interactions between the crypto industry and the White House have noticeably increased. It is reported that giants like Coinbase, Tether, and Ripple even contributed funds to help renovate the White House’s new banquet hall.
The Trump administration has also provided tangible feedback. In addition to signing executive orders to establish a Bitcoin strategic reserve, it also formed a working group led by renowned Silicon Valley venture capitalist and AI & crypto czar David Sacks, and vigorously promoted legislation such as the 《GENIUS》 Act, aiming to establish clear regulatory frameworks for stablecoins.
Besides the reserve layout, Cathie Wood also expects that the Trump government will “ensure” that cryptocurrency transactions receive tax exemptions, meaning small transactions would be exempt from capital gains tax, thereby lowering the barriers for everyday use and promoting cryptocurrencies to truly enter the civilian payment scene.
Will the US buy Bitcoin or not? Bessent’s statements have been inconsistent, leaving the market in a fog.