{"id":41715,"date":"2024-11-20T05:08:01","date_gmt":"2024-11-20T05:08:01","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/vaneck-backs-bitcoin-strategic-reserve-as-trumps-plan-gains-momentum\/"},"modified":"2024-11-20T05:08:01","modified_gmt":"2024-11-20T05:08:01","slug":"vaneck-backs-bitcoin-strategic-reserve-as-trumps-plan-gains-momentum","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/vaneck-backs-bitcoin-strategic-reserve-as-trumps-plan-gains-momentum\/","title":{"rendered":"VanEck Backs Bitcoin Strategic Reserve as Trump\u2019s Plan Gains Momentum"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Leading asset management company VanEck has supported Donald Trump\u2019s proposal at a July cryptocurrency conference to designate Bitcoin as a strategic reserve. This audacious plan is garnering support from lawmakers and the financial industry, suggesting a possible change in the country\u2019s stance on digital assets.<\/p>\n

Growing Support for Bitcoin as a Reserve Asset<\/h2>\n

Matthew Sigel, VanEck\u2019s head of digital asset research, announced the firm\u2019s support for the strategic Bitcoin reserve on X (formerly Twitter). \u201cFor immediate release: VanEck Endorses Strategic Bitcoin Reserve<\/a>. No need for \u2018sources\u2019 we just tell you ourselves,\u201d Sigel stated in a post on November 20.<\/p>\n

This endorsement aligns with the efforts of Wyoming Senator Cynthia Lummis, who earlier proposed the BITCOIN Act in Congress. The act aims to allow Bitcoin to be recognized as part of the nation\u2019s strategic reserves. Pennsylvania recently introduced similar legislation, suggesting that 10% of its strategic reserves could be allocated to Bitcoin.<\/p>\n

Advocacy groups like the Satoshi Action Fund are also actively promoting this initiative. They have engaged with lawmakers in 10 states to discuss the integration of Bitcoin into strategic reserve policies, broadening the proposal\u2019s appeal.<\/p>\n

VanEck\u2019s Role and the Potential Impact<\/h3>\n

VanEck, a prominent ETF issuer with $118 billion in assets under management, has long been a pioneer in digital asset innovation. The firm was the first to propose a futures-based Bitcoin ETF in the U.S. back in 2017. Its support for Trump\u2019s Bitcoin initiative reflects a growing consensus within the financial industry about the asset\u2019s strategic value.<\/p>\n

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If Congress passes the BITCOIN Act, it could reshape the U.S. financial reserve system, currently dominated by gold. The act would allow the U.S. government to retain its existing Bitcoin holdings\u2014approximately 69,370 BTC worth $6.4 billion\u2014and acquire up to 1 million BTC over the next five years.<\/p>\n

This groundbreaking move would not only reinforce Bitcoin\u2019s role in the global financial system but also position the U.S. as a leader in digital asset adoption.<\/p>\n<\/p><\/div>\n

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(Originally posted on : Crypto News – iGaming.org ) Leading asset management company VanEck has supported Donald Trump\u2019s proposal at a July cryptocurrency conference to designate Bitcoin as a strategic reserve. This audacious plan is garnering support from lawmakers and the financial industry, suggesting a possible change in the country\u2019s stance on digital assets. Growing […]<\/p>\n","protected":false},"author":34,"featured_media":41716,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41715"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=41715"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41715\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/41716"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=41715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=41715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=41715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}