welcome
Wired

Wired

Business

Business & Economics

Trump's 'Strategic Bitcoin Reserve' Plan Comes With a Twist

Wired
Summary
Nutrition label

75% Informative

President Donald Trump signs executive order to establish two national cryptocurrency reserves.

The US will not use money raised through taxation to purchase additional crypto for the reserves.

At present, the US is estimated to hold around 200,000 bitcoin, worth roughly $17 billion .

The price of bitcoin slid by around six percent in the hour following the announcement.

One possible effect of Trump following through on the crypto reserve plan might be that individual US states and other national governments set out to form their own.

Already, members of Congress in states including Texas , Ohio and New Hampshire have introduced bills that would authorize their respective state treasuries to purchase bitcoin.

VR Score

70

Informative language

64

Neutral language

39

Article tone

semi-formal

Language

English

Language complexity

59

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

Affiliate links

no affiliate links