DEVELOPING: Eric Trump RT’d @Swan<\/a>\u2019s post about his meeting with Senator Lummis on the American Strategic #Bitcoin<\/a> Reserve\u2014then quickly deleted it.<\/p>\n What\u2019s brewing behind the scenes? \ud83e\udd14 pic.twitter.com\/E7nqbieNIQ<\/a><\/p>\n \u2014 Swan (@Swan) January 22, 2025<\/a><\/p><\/blockquote>\n This latest buzz follows Senator Lummis\u2019 unveiling<\/a> of The Bitcoin Act of 2024 last year, a legislative proposal to formally establish a US strategic Bitcoin reserve. Known officially as the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act, the bill outlines a plan for the U.S. Treasury to acquire 1 million BTC over five years, funded by reallocating existing resources within the Federal Reserve System and the Treasury Department.<\/p>\n While details remain scarce regarding the progress of the legislation, sources indicate Lummis\u2019 office is working diligently to navigate the political and logistical complexities involved. Notably, Senator Lummis also met with former President Donald Trump over the weekend. Senator John Barrasso revealed via X: \u201cSenator Lummis and I had a great time talking with President Donald Trump<\/a> this morning. Wyoming is ready for Inauguration Day tomorrow!\u201d<\/p>\n The notion of an SBR has gained renewed momentum following yesterday’s pardon of Ross Ulbricht<\/a> by President Trump. Analysts note that during the 2024 conference, Trump had floated the idea of transferring BTC seized by law enforcement into a national stockpile. Now, with the pardon promise fulfilled, many in the community are wondering if the SBR plan could be next on the administration\u2019s agenda.<\/p>\n On prediction platform Polymarket, the odds<\/a> of an imminent SBR soared from 28% to 44% after news of the pardon broke. Those odds had once reached as high as 59% around Inauguration Day. As of late, they had dipped back to around 28%\u2014only to bounce upward again following Ulbricht\u2019s release.<\/p>\n Crypto analyst known as Byzantine General voiced optimism, posting on X: \u201cThe fact that he kept his promise with Ross is a good sign IMO that he\u2019s going to follow through with supporting crypto.\u201d<\/p>\n David Bailey, CEO of BTC Inc who was instrumental in turning Trump pro-BTC, added<\/a> to the speculation, remarking: \u201cTonight is about Ross but I\u2019ll share this since I\u2019m getting a ton of questions: I\u2019m still expecting dedicated bitcoin+crypto EOs in coming days. I don\u2019t know what they say or exactly when they drop. I also fully expect the President to deliver on the SBR in his first 100 days.\u201d<\/p>\n Anthony Pompliano, Founder & CEO of Professional Capital Management, posted a similarly confident take: \u201cIf Ross Ulbricht got the pardon, we are definitely getting the Strategic Bitcoin Reserve. Trump will create history with the stroke of his pen.\u201d<\/p>\n In a separate discussion at the World Economic Forum, Coinbase CEO Brian Armstrong was asked about President Trump\u2019s stance on establishing a US Bitcoin reserve. Armstrong said<\/a>:<\/p>\n \u201cWell, I didn\u2019t talk to him about that specifically, but I think he is excited about it. I mean, he really wants to be the first Bitcoin president. Cynthia Lummis in the Senate is actually, I think, the one driving this legislation around a strategic Bitcoin reserve. And I think it\u2019s a good idea. The US actually has reserves in lots of things, gold, oil, I think like 27 different rare minerals like palladium and all these things. And so, you know, I think the world is moving to a Bitcoin standard for money. They absolutely should hold. Any government who holds gold should also hold Bitcoin as a reserve.\u201d<\/p>\nBitcoin Reserve Rumors Intensify With Ulbricht Pardon<\/h2>\n
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