US crypto reserve: Odd idea with a silver lining

Trump's proposal last week wasn't the crypto boost that fans of digital tokens expected. Its market impact must always stay neutral. If CBDCs gain US approval, that will be a bonus

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If any other owner of a cryptocurrency platform had announced a national reserve of cryptocurrencies, howls of protest over conflict of interest would have rent the air. When President Donald Trump declared that the US would create a Bitcoin reserve and a separate crypto stockpile, his fan base took it as a move to fulfill a campaign promise. But the proposal he unveiled last week seemed like a bit of a con. For Bitcoin, the US government will merely rename its existing holdings as a strategic reserve. No additional tokens will be bought. No federal funds being deployed also goes for the multiple-crypto stash to be held alongside. What's already in the US crypto vault had fallen into state ownership as a result of legal proceedings against wrongdoing.