US Bitcoin Reserve Top Priority: Everything to Know About Crypto Czar Press Conference

What happened at the Crypto Czar Press Conference last night? Bitcoin reserve is being considered but is subject to a working group’s finding – BTC drops back below $100k – let’s dig in.

According to David Sacks, the recently appointed crypto czar, who spoke at a press conference yesterday, the fate of the highly anticipated strategic Bitcoin reserve will depend on a working group’s findings.

The Bitcoin price plunge that followed this news underscores how eagerly the crypto community was awaiting this clarity, which has now rendered the idea “uncertain.”

Roughly 36 hours after President Trump signed the executive order paving the way for creating the American Sovereign Wealth Fund, Sacks held his first press conference. Much was expected from Sacks, and he did not disappoint.

Bitcoin Reserve A Priority But Depends on This

Besides outlining what can only be described as a bold vision placing Bitcoin at the core of Trump’s pro-crypto strategy, Sacks also reaffirmed their commitment to exploring the practicality of a national Bitcoin reserve.

For clarity, the reserve might run parallel to the wealth fund but would be considered a different initiative.

During the press conference, Sacks also criticized the United States Securities and Exchange Commission (SEC) under former chair Gary Gensler, accusing them of being reckless.

Unlike the Biden administration, they will focus on providing clarity and putting an end to “the chaos.” In turn, this will help usher in a “golden age in digital assets.”

Streamlining crypto policy will involve creating clear guidelines to avoid confusion, especially now that the United States is at a critical juncture and all eyes are on whether the idea of a strategic Bitcoin reserve will proceed.

This is not the first time the idea of a national Bitcoin reserve has been floated. Although a draft bill is in the Senate, President Trump has yet to sign an executive order formally adopting and developing this reserve.

However, the press conference clearly shows that the new administration is taking this concept seriously. If it is created, there is little doubt that prices could easily spike to $500,000 over the subsequent period.

Although Sacks’ comments signaled the much-needed shift in priorities, with President Trump and those in power favoring a more Bitcoin-focused strategy rather than a stockpile of coins created by United States-based founders like Ripple, the community desired more. The top priority is on stablecoin regulation, NOT a Bitcoin reserve.

Crypto Czar Press Conference Spooks Market: BTC Drops Below $100,000 – AGAIN!

The government is already considering this proposal and is seriously evaluating it. However, Sacks also said “it would be among the priorities” and that they are “still in the very early stages.”

Crucially, whether the reserve will be approved depends on the findings of the recently established crypto task force. Once confirmed and given the green light, the group will shape crypto policy in the United States.

“One of the things that the President instructed us to do was to evaluate the idea for a Bitcoin reserve. So that is one of the first things we’re going to look at as part of the internal working group of the administration. So as soon as we get all that set up – we’re still waiting for some cabinet secretaries who are on the working group to get confirmed.”

In response, Bitcoin

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