KBW： Trump's signing of executive orders related to Bitcoin strategic reserve is a 'critical moment' for the cryptocurrency industry

According to CoinDesk, investment bank KBW stated in a research report last Friday that US President Trump's signing of an executive order calling for the establishment of a Bitcoin strategic reserve and cryptocurrency reserve is a "critical moment" for the industry. KBW pointed out that "the world's largest superpower has already adopted several leading blockchain protocols. Bitcoin is the real winner because it is specifically seen as a reserve asset. Governments not only do not sell Bitcoin, but are also considering options to purchase more cryptocurrencies KBW estimates that the government holds approximately 198000 bitcoins. It pointed out that about 55% of them will be returned to Bitfinex, with the remaining approximately 86000 coins. The specific details of how the government plans to accumulate Bitcoin have not been announced yet, but KBW has stated that the government may sell a portion of its over $800 billion gold reserves to provide funding for additional purchases of cryptocurrency. The bank stated that issuing US Treasury Bitcoin bonds is another option. These bonds are treasury bond containing bitcoin "additional income", which may reduce the government's borrowing costs. The report also added that the government can establish partnerships with American miners to obtain Bitcoin royalties in exchange for tax breaks or incentives.