Go Unlimited with Magzter GOLD
Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just
Try GOLD - Free
US crypto reserve: Odd idea with a silver lining
Mint Mumbai
|March 10, 2025
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
-
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 fulfil 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.
This story is from the March 10, 2025 edition of Mint Mumbai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Mumbai
Mint Mumbai
Sun Pharma rejig sets stage for Shanghvi's succession
Dilip Shanghvi is now executive chairman, son Aalok to oversee critical US business
2 mins
September 20, 2025
Mint Mumbai
Apple on track for record quarter on iPhone 17 sales
Sales volume, value expected to rise; top models sold out at three Apple Stores
3 mins
September 20, 2025
Mint Mumbai
Vodafone Idea investors cheer on hope of solution to new AGR case
Vodafone Idea Ltd investors celebrated after the Centre sought time to resolve the latest dispute over its statutory dues, citing consumer interest and its own stakeholding in the beleaguered telco.
2 mins
September 20, 2025
Mint Mumbai
The many shades of tea
My 13-year-old has taken to sharing Reels on the absurdities of language and how it can confuse one terribly if you're a new learner trying to grasp the rules.
2 mins
September 20, 2025
Mint Mumbai
Thyssenkrupp bid a litmus test for Jindal scion
Jindal Steel International’s pursuit of Thyssenkrupp Steel Europe marks a crucial moment for the group, and for its next-generation leader-in-waiting, Venkatesh Jindal.
3 mins
September 20, 2025
Mint Mumbai
Nvidia’s Huang walks an AI tightrope between US, China
Nvidia CEO Jensen Huang is trying to keep both the U.S. and China happy. It is proving to be a tricky high-wire act.
4 mins
September 20, 2025
Mint Mumbai
A tough test stands in the way of India’s ₹10 lakh-plus funds
Mutual funds are rolling out specialized investment funds (SIFs) with a minimum ₹10 lakh ticket size, but the product faces a distribution hurdle.
3 mins
September 20, 2025
Mint Mumbai
Life's little tragedies, comedies and ironies
Hindi journalist Anil Yadav's short fiction in translation throws light on corruption, hypocrisy and everyday absurdities in Varanasi, and beyond
4 mins
September 20, 2025
Mint Mumbai
Food safety watchdog sniffs for spice adulteration
India's food safety regulator has ordered an enforcement blitz on spice manufacturers across the country, in a move to combat adulteration and safeguard public health.
1 mins
September 20, 2025
Mint Mumbai
Flex those flaxseeds for an extra dose of nutrition
This seed ties together fabric, food and fine art.
4 mins
September 20, 2025
Listen
Translate
Change font size