Four months after Donald Trump's inauguration, we can start to take a first assessment of his political action. During his interview with the founders of Gemini, David Sacks, an entrepreneur and special member of the US government, returned to all his pro-Crypto actions and reiterated his confidence in Donald Trump, saying that the United States was going this time in the right direction.
In short
- David Sacks defends the idea of a more important Bitcoin reserve.
- An assessment of Trump's Pro-Crypto policy.
- David Sacks offers a new energy policy for cryptos and AI.
David Sacks defends the idea of a more important Bitcoin reserve
During the last Bitcoin conference in Las Vegas, the entrepreneur David Sacks spoke with the Winklevoss brothers, founders of Gemini, on new technologies and American policy. He notably suggested that the United States could Increase their bitcoin reservesprovided that this is done in a budgetary neutral manner.
David Sacks is a member of the Paypal Mafia close to Peter Thiel. Both are investors in new technologies that participated in the financing of Donald Trump's campaign. Since the latter's election, David Sacks has become a special government employee with the title of Czar in charge of cryptocurrencies and artificial intelligence. In addition, Peter Thiel supports Reserve, a discreet Stablecoin project aimed at offering an alternative to traditional currencies in unstable economies.
Praising the actions carried out by Trump since his inauguration, he returned to the decision to develop a federal reserve in Bitcoin. The decree on this reserve indicates that these Bitcoin come from seizure procedures in criminal or civil affairs, David Sacks, however, thinks that the state can buy more. Indeed, this same decree does not indicate the means of acquiring these bitcoins and leaves open the possibility of a direct purchase.
If this can be done in a budgetary level, that is to say if the Ministry of Commerce or the Ministry of the Treasury can find a way to finance it without weighing down the debt, then they are authorized to create these programs.
Trump's pro-Crypto policy report
Trump's measures in favor of cryptocurrencies do not stop there. In fact, these first four months were, according to David Sacks, the opportunity to symbolically change the atmosphere around these digital assets. Ross Ulbricht, the founder of Silk Road, was released and Gary Gensler, the former president of the SEC and fierce opposing the cryptocurrencies, was replaced. But it is above all the cessation of funding for the CFPB which delights the entrepreneur. This commission is a regulatory agency installed by Democratic Senator Elizabeth Warren, a senator very hostile to the cryptocurrency market.
Apart from these symbolic measures, several concrete decisions of Trump are crucial, according to Sacks. First of all, the final abandonment of MNBC (Central Bank Digital Currency) and the Stablecoins Bill will be important assets to stabilize the place of the dollar in trade while safeguarding private initiative. This measure is in opposition to that of the European Union which is preparing to experience its digital euro at the end of the year. Regarding the other cryptocurrencies, David Sacks reaffirms the abandonment of Choke Point 2.0, a measure taken by the Biden government and which aims to cut the financial resources of certain cryptocurrency companies. Instead, a working group and a bill will define a new, more favorable framework for this market, thus preventing future secure attacks.
David Sacks offers a new energy policy for cryptos and AI
The end of the interview was an opportunity to show that cryptocurrencies and artificial intelligence share the same issues at the energy level. Indeed, these are industries that require many calculation powers on the part of graphics or ASIC cards and are therefore very energy -consuming.
David Sacks considers that to keep leadership in these areas, the United States must strengthen its energy production. In this sense, Trump's call to drill more is once again a positive act for these industries.
A fervent support of Trump and new technologies, David Sacks exposes a more than positive assessment of the first months of Donald Trump's mandate and shows that the first measures, such as the adoption of Bitcoin Act aimed at the acquisition of one million BTC by the United States, resolutely commit the country in the right path to become the nation of cryptocurrencies.
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