Brian Armstrong, CEO of Coinbase, has revealed that former U.S. President Donald Trump is excited about the idea of a strategic Bitcoin Reserve. During the interview, Armstrong clarified that while he did not explicitly discuss a Bitcoin reserve with Trump in his meeting, though, the newly-elected president expressed strong interest in Bitcoin and even aimed to become the first “Bitcoin President”.
“Any government that holds Gold should also hold Bitcoin as a reserve,” Brian said, “I think it’s a good idea. The U.S. has already reserves in lots of things, like Gold, Oil, and 27 different minerals.”
🇺🇸 COINBASE CEO SAYS PRESIDENT TRUMP IS EXCITED ABOUT THE STRATEGIC #BITCOIN RESERVE 🤯
IT’S HAPPENING!!! 🚀 pic.twitter.com/tcQLYtFyd0
— Vivek⚡️ (@Vivek4real_) January 21, 2025
He also praised Cynthia Lummis, a United States senator from Wyoming for driving this Bitcoin reserve legislation. This also shows a big shift in the U.S. government’s stance toward digital assets under Trump’s new administration.
Cynthia Lummis Acknowledges Trump’s Role in Bitcoin Reserve Legislation
Senator Cynthia Lummis, a prominent Bitcoin advocate in Congress, weighed in on Trump’s influence over Bitcoin-related legislation. In a tweet, she highlighted that both executive and legislative actions are crucial for success.
A point of clarity: Executive action and legislative action are not mutually exclusive.
That said, it takes majorities in both US House and Senate to get a bill to the President’s desk. All roads to success run through President Trump.
He’s the leader of the free world!
— Cynthia Lummis 🦬 (@CynthiaMLummis) January 21, 2025
“It takes majorities in both the US House and Senate to get a bill to the President’s desk. All roads to success run through President Trump,” she stated.
Instead of waiting to see whether Donald Trump completes his flowery promises of a national “strategic’ Bitcoin reserve, six U.S. states have already put forward their own SBR bills, including Oklahoma, Wyoming, New Hampshire, Texas, Pennsylvania, and North Dakota.
On the first day, President Trump did not mention digital assets or crypto-related in his speech. However, today, the newly-appointed SEC (Securities and Exchange Commission) Acting Chairman Mark T. Uyeda announced the formation of a crypto task force led by Commissioner Hester Peirce.
The newly formed task force under SEC’s guidelines strives to reduce the crypto sector’s burden by defining clear regulatory guidelines, including “realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously.”
