Key Takeaways
- Donald Trump shared a extensively praised Bitcoin explainer video by Peter Van Valkenburgh.
- Trump’s administration established a Strategic Bitcoin Reserve, however confusion stays over authorities holdings.
- Bitcoin lagged behind Ethereum, Dogecoin, and Solana in latest weekly efficiency.
President Donald Trump highlighted Bitcoin on Sunday by sharing an explainer video from Peter Van Valkenburgh, the Govt Director of Coin Middle, calling it the “biggest Bitcoin clarification of all time.”
Trump amplifies Bitcoin message
Trump posted Van Valkenburgh’s October 2018 testimony earlier than the Senate Banking Committee on his Reality Social account.
Within the video, Van Valkenburgh describes Bitcoin as a world funds system that operates with out intermediaries:
“The dearth of any company in between signifies that Bitcoin is the world’s first public digital funds infrastructure. Bitcoin is the world’s first globally accessible public cash.”
He additionally acknowledged Bitcoin’s limitations, comparable to volatility and gradual mainstream adoption, however advocated for its use as a strategy to problem dominant company intermediaries.
Latest political strikes
Trump’s submit follows a interval of elevated political consideration to Bitcoin.
Earlier in March, Trump signed an Govt Order to ascertain a Strategic Bitcoin Reserve, supposed to be funded by federally seized Bitcoin belongings.
Nevertheless, there was little progress since, and confusion persists over stories that the federal government might have offered a good portion of its Bitcoin holdings.
Final week, Trump signed the GENIUS Act, which creates a regulatory framework and shopper protections for stablecoins in the USA.
BTC value
On the time of publication, Bitcoin was buying and selling at $118,622, down 0.46% within the final 24 hours and practically 3% over the previous week. In distinction, Ethereum surged 23%, Dogecoin rose 32%, and Solana climbed 11% over the identical interval.