James Kirkham retweeted
Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve.
The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime.
It is estimated that the U.S. government owns about 200,000 bitcoin; however, there has never been a complete audit. The E.O. directs a full accounting of the federal government’s digital asset holdings.
The U.S. will not sell any bitcoin deposited into the Reserve. It will be kept as a store of value. The Reserve is like a digital Fort Knox for the cryptocurrency often called “digital gold.”
Premature sales of bitcoin have already cost U.S. taxpayers over $17 billion in lost value. Now the federal government will have a strategy to maximize the value of its holdings.
The Secretaries of Treasury and Commerce are authorized to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers.
IN ADDITION, the Executive Order establishes a U.S. Digital Asset Stockpile, consisting of digital assets other than bitcoin forfeited in criminal or civil proceedings.
The government will not acquire additional assets for the Stockpile beyond those obtained through forfeiture proceedings.
The purpose of the Stockpile is responsible stewardship of the government’s digital assets under the Treasury Department.
PROMISES MADE, PROMISES KEPT
President Trump promised to create a Strategic Bitcoin Reserve and Digital Asset Stockpile. Those promises have been kept.
This Executive Order underscores President Trump’s commitment to making the U.S. the “crypto capital of the world.”
I want to thank the President for his leadership and vision in supporting this cutting-edge technology and for his rapid execution in supporting the digital asset industry. His administration is truly moving at “tech speed.”
I also want to thank the President’s Working Group on Digital Asset Markets — especially Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick — for their help and support in getting this done. Finally Bo Hines played a critical role as Executive Director of our Working Group.
James Kirkham retweeted
LeBron was in the NBA before Dereck Lively II was even born 😳
Now he’s posterizing him at 40-years-old 🤯
James Kirkham retweeted
$MSTR acquired 258,320 BTC for $22.07B (~$85,450/BTC) in 2024 and achieved a 74.3% BTC Yield, starting the year with 189,150 BTC and realizing a BTC Gain of 140,630 BTC (385/day). At $100K/BTC, this translates to shareholder value creation of $14.06B for the year or $38.5M/day.
Muppet
I'm determined to deliver growth, create wealth and put more money in people’s pockets.
This can only be achieved by working in partnership with leading businesses, like @BlackRock, to capitalise on the UK’s position as a world leading hub for investment.
ALT Prime Minister Keir Starmer hosts a Blackrock meeting along with Chancellor of the Exchequer Rachel Reeves and Blackrock founder and chief executive officer Larry Fink in 10 Downing Street.
ALT Prime Minister Keir Starmer hosts a Blackrock meeting along with Chancellor of the Exchequer Rachel Reeves and Blackrock founder and chief executive officer Larry Fink in 10 Downing Street.
This is absolutely fucking wild
In his 22nd NBA season, @KingJames has four consecutive triple-doubles for the first time in his career.
James Kirkham retweeted
JUST IN: NFL wide receiver Odell Beckham Jr says "Soooo who said taking my Rams salary in #bitcoin was dumb again? 🤔🤫😌"
This guy doesn’t get it
If the U.S. government actually established a #Bitcoin reserve and bought 1 million Bitcoin, it might end up buying millions more. Since the U.S. government’s purchase of 1 million Bitcoin would drive the price so high, many HODLers, then worth millions or billions, would finally begin cashing out to spend their windfalls.
That would cause the market to crash, forcing the U.S. government to print even more dollars to buy more Bitcoin to prevent the price from crashing, thereby diminishing the value of its Bitcoin reserve. Of course, a reserve of something you can never sell and must continuously buy is worthless as a reserve. To maintain the pretense that its Bitcoin reserve has actual value, the U.S. government would be forced to keep buying, destroying the value of the dollar in the process.
This would mean Bitcoin prices would keep rising, and the U.S. government would have to print even more money to buy more Bitcoin. Ultimately, so many dollars would be printed to buy Bitcoin that the U.S. would experience hyperinflation, rendering the dollar completely worthless. Once the dollar is worthless, the U.S. could no longer keep buying Bitcoin. Instead, it would have to sell all the Bitcoin it holds to try to pay its bills, leading to the complete collapse of Bitcoin. In the end, Bitcoin would have succeeded in destroying the dollar. But the victory would be short-lived, as Bitcoin would be destroyed along with it. At least those who sold to the U.S. government to buy real assets would be rich. The people who never sold their Bitcoin, or kept their savings in dollars, would be completely wiped out.
It goes without saying that this scenario would be an unmitigated disaster for the U.S. That's why it's highly unlikely that a Bitcoin reserve will ever be established, let alone built up to the level suggested by RFK.
James Kirkham retweeted
🚨 Bitcoin has officially hit a new all-time high.
Congratulations to everyone who held through the volatility.
James Kirkham retweeted
Bitcoin is telling you something right now.
Make sure you are paying attention.
Bro WHAT
BREAKING: The storm surge for Hurricane Milton is expected to be 15 feet.
To give you an idea of how deadly this is, here's what 9 feet looks like:
xitter.cf/i/status/1843591864546…
James Kirkham retweeted
What do federal reserve interest rate cuts and basketball have in common? They're both all about making big rebounds! Bullish on Bitcoin.
