President Donald Trump has issued an order to establish a group tasked with exploring the creation of a U.S. cryptocurrency reserve from assets seized by the government. There is interest in potentially forming a strategic reserve similar to the country's well-known Strategic Petroleum Reserve.
At the moment, discussions revolve around seizing about 200,000 tokens worth $21 billion, with proposals like Republican Senator Cynthia Lummis' plan suggesting the government buy 200,000 bitcoins annually to build a robust reserve over five years.
Advocates argue that such a move could fortify the U.S. position in the global bitcoin market, bolster the dollar, and reduce the national debt. However, critics raise concerns about the inherent risks associated with the volatility of bitcoin, its susceptibility to cyber attacks, and its uncertain future value.