By CryptoSlate | Created at 2025-01-24 13:56:46 | Updated at 2025-01-24 20:43:59
6 hours ago
Bitcoin figures, including Max Keiser, Cory Klippsten, and American Hodl, are challenging President Trump’s plan for a national digital asset stockpile, urging the administration to focus only on Bitcoin.
Their comments follow an executive order that calls for a Presidential Working Group on Digital Asset Markets, chaired by David Sacks, to consider a strategic reserve derived from lawfully seized cryptocurrencies.
Keiser, who previously supported El Salvador’s Bitcoin-centric approach, posted remarks on Twitter/X calling for any federal stockpile to exclude other tokens.
He cited the effort required to keep El Salvador “shitcoin free” and argued that broader holdings could undermine the signal intended by the initiative. Keiser quoted American Hodl’s argument that,
American Hodl echoed these concerns in a separate tweet, warning that anything beyond Bitcoin would dilute the policy’s message and invite criticism over potential “crony capitalism.”
The working group’s mandate includes developing a regulatory framework for digital assets, with stablecoins under review. Administration officials have not indicated whether the stockpile would consist of a range of tokens or focus on Bitcoin alone. However, before the election, there had been an indication that the US government may stockpile US-made crypto tokens.
Critics claim that mixing assets might lessen clarity around the government’s stance, while supporters believe a diversified approach could capture a wider swath of seized digital property.
Bitcoin had a muted reaction to the executive order, rising around 2.5% to around $105,000, a price it has visited half a dozen times.
