I don't believe they've actually bought anything, yet. When he signed the EO last week, he said they're exploring options. It's illegal for the government to buy securities such as stocks. I don't see why this would be any different.
Crypto reminds me of beanie babies & tulips. And now our government is using taxpayer money to buy crypto. What could go wrong? https://youtu.be/h4RIiBpfxnU
As much as I agree that crypto is a scam, I read that the reserve was created from confiscated crypto wallets, so not actually from taxpayer dollars going in. That's part of the reason that crypto prices dropped in response, instead of rising.
Some of the reserve came from confiscated crypto, but not all. I believe the Bitcoin part of the reserves was already confiscated bitcoins. But there are other crypto that wasn't part of confiscated crypto. I'll check again to make sure.
It's both: "The Executive Order specifies that this reserve will be capitalized with Bitcoin already in possession of the Department of the Treasury....
" The order also authorizes the Secretaries of Treasury and Commerce to develop budget-neutral strategies for acquiring additional Bitcoin, provided these strategies impose no incremental costs on American taxpayers. "
Lawrence O’Donnell clarified this point tonight.
It’s essentially impossible for the US Govt to buy crypto.
He said it would be like if the Boston Celtics were for sale - O’Donnell said he could explore any number of ways to purchase the team himself, but in the end, it would be impossible.
Just an FYI, (because we’ve been desensitized on this over decades) but anything the Feds confiscate belongs to We the People. Confiscated crypto wallets, that’s our money. Of the people, by the people, for the people…at least that’s how it was in America. Where we are right now, I don’t know. ☮️
I'm reminded of how Trump failed at gambling. The house always wins, that's what they say, but Trump's house went bankrupt after an increase in interest payments.
The US Dollar is the currency of this nation. Starting up a "government reserve" for crypto currency is against the law,isn't it? Isn't it another attack on the financial stability of our Nation? It should all be shut down now,and djt and his henchmen should all be arrested for domestic terrorism.
Sure, but in this case Dump used a massive amount of taxpayer dollars ... not a trade, or a sold good, or a provided service ... just a scam to take real currency away.
I'm still confused why Dems aren't using their money to take out an ad showing exactly this every half hour on Fox or whatever other channels the MAGA watch 24/7
Is anyone surprised? Anything trump touches turns into object failure. The only people who believe his boasts and lies are the naive stupid people who don’t know any better. Now, they are paying a huge price for not listening to those who tried to warn them.
The Crypto reserve doesn't do anything but hold the crypto the US has seized from criminals through asset forfeiture. If it lost value it's due to the value of the existing assets changing.
Blockchain technologies differ, requiring nuance to assess their value. BTC is 1st-gen crypto, ETH 2nd-gen has decentralized platforms & smart contracts, XRP & XLM low-cost money transfers, ADA is a 3rd-gen quantum-resistant voting & proof-of-stake security. Cryptos must be regulated not dismissed!
This is not only insane - it is why nobody trusts a 6 times bankruptcy queen with their money - not that anyone had a say- Is he going to blame Biden for this too -
Trump himself isn't even worth that much money -My God -
“Would have” JFC you can literally see the truth being stripped away in favor of gleeful ridicule, of disdainful merriment, of cynical camaraderie. It’s all fun and games until one of you gets fact checked by a MAGAt and loses.
They are already planning more crazy shit with crypto. Like paying US govt payables. Where are the economists protesting this Ponzi scheme? Who will protect us from these robber barons?
Actions, meet consequences. Trump literally has never met a problem that he thought through all the way to a logical conclusion. Impulsive, reckless, corrupt.
Yup, always a conman.
'Through all legal means'
Since 2014 if you owe any $$ to the IRS and own crypto they can size it as a substitute for the cash you owe. They started calling crypto property and it was done. Clever.
So $$ from taxpayers into Crypto Reserve.
Yup. You're right. They aren't going directly from there, the IRS account to purchase. The $$ is then sent to the general fund and Trump and his people can use it however they please. Look what is going on now... Rules? Laws?
Come on.
Saw this coming when he mentioned crypto currency in a speech sighting barron as the one schooling him on it moons ago.
The idiot thinks he is a brilliant business person...this (and many other examples) proves he is not.
Where are the adults?
So quick question. If you confiscate the crypto wallet, don’t you need to then crack the encryption? And if you can do that or there’s a backdoor doesn’t that invalidate the whole crypto is secure argument?
Since there is no oversight and no discernable records, who is to say he didn't shift treasure funds into this bitcoin scam? Musk has "write" access to treasury now and zero off switch.
And congress votes for trump's nominees - LIKE THE DEMOCRATS DID TODAY WITH LABOR SECRETARY. DEMOCRATS CANNOT BE TRUSTED TO SUPPORT THE PEOPLE OF THIS COUNTRY. THEY ARE LOSING MONEY ON THE STOCK MARKET NOW. THEY WILL COMPLY. IT IS THE PEOPLE VS THE GOVERNMENT.
Was the reserve created with taxpayer dollars as Sweetser said or was is created with seized bitcoins? My understanding it was seized bitcoins. Just want to keep it correct.
Exactly right. It will originally begin with only seized crypto, but may be added to later with government funds if they can find a 'budget neutral' way of it...
AKA, eliminate as many government agencies as possible and use the funds 'saved' from gutting the government to buy more later
False propaganda isn't just Trump flapping his lips, it's rampant on the left too. Drives me crazy to think that so many of us that are opposed to Trump are just as clueless and easily manipulated as MAGA is
You’re correct. That’s the plan. This post is actually incorrect as the Crypto Strategic Reserve hasn’t actually been created yet. Trump just signed the EO for it a little more than a week ago. People let’s do better here on Bluesky with the accuracy of our posts!
Feels like Trump is acting like this in so many places to show is "fans"that he fulfills the promise he made, so they stick with him till the midterm elections. Just keep them all fuzzy in the brain with his pseudo solutions. so keep the racists on his side, the crypto Bros etc.
Why is the government doing anything at all with cryptocurrencies? Why is our money going towards this? We never voted for that. Genuine questions. Would be interested to see more sources
HOW IS THIS POSSIBLE. You don't hear about it on the news! No one is telling the Disinterested or MAGA or people who are busy worried about keeping their jobs... it's just HAPPENING
Somebody keep track of this because when this is all over we need to get all this money back from Trump, Musk, Bezos, and all the other complicit thieves whose names I’m too angry to remember right now.
Heath said "would have lit 20 billion", Kyle didn't read the post. I hate this administration fuckery, but reading is important. Let's try not to act like magats.
1. No, it is all from civil asset forfeiture. Previously the govt would try to sell off crypto, this is just saying keep it. It's neither a terrible nor a grand idea.
2. No. The estimated total they have is $18B. Prices are volatile, it will go up and down.
Its not a mistake, ITS A ROBBERY!! Crashing the market and economy are all part of the plan. So is breaking our government beyond repair. Research Curtis Yarvin. Its his plan they are enacting.
Trump's Crypto Reserve isn't big enough to significantly affect the non-crypto market; it's just spending $100B or whatever of the public's money on collectible beanie babies, while highly conveniently his friends will be the the ones who get to sell it to him.
It's just graft, unlike the rest.
We spend billions of tax dollars to make a catche of digital currency while musk has control of the government digitally? Nope, nothing is wrong with this scenario at all.
Comments
That was the only reason for creating it in the first place, to subsidize the CryptoBros cashing out large.
But like the rest of the scam, it was the first piggies at the trough who got all the feed.
It’s essentially impossible for the US Govt to buy crypto.
He said it would be like if the Boston Celtics were for sale - O’Donnell said he could explore any number of ways to purchase the team himself, but in the end, it would be impossible.
Imagine you're living in a country with really really heavy inflation. You're getting paid in the local currency and it is inflating fast!
So you're saving as much as you can in dollars for the long term.
Why would you want to pay your taxes in the dollars rather than the local currency?
But also you can work for it
But also you can trade for it. Like if you create goods and sell them for BTC
You can grift using Bitcoin just like you can grift using anything
He grifted using universities for goodness sake!
Donald is a grifter. Just because he likes real estate doesn't mean real estate is a grift. Savvy?
Donald Trump is a sideshow conman.
That's all it does. Read the order.
https://www.whitehouse.gov/fact-sheets/2025/03/fact-sheet-president-donald-j-trump-establishes-the-strategic-bitcoin-reserve-and-u-s-digital-asset-stockpile/
I guess it depends on who got the $100Bn.
We're looking down the barrel of the US Treasury bailing out these jerkwads instead of it all burning to the ground.
It will be the '08 Bank Bailout writ larger than I ever thought possible.
Excellent article - thank you!
That money could've paid for the Medicare for kids they're trying to cut.
1. No one in the current administration has any concept of risk or volatility as they pertain to finance.
2. The Trump admin is actively engaging in securities fraud with taxpayer funds.
No underlying value. NO pallets of gold. NO piles of platinum.
It's a CON
I dare ALL holders of Crypto and Bitcoin to cash out on Mar 15 2025.
I DARE you!!!
Won't happen because it's ALL Monopoly Money
No underlying value. NO pallets of gold. NO piles of platinum.
It's a CON
I dare ALL holders of Crypto and Bitcoin to cash out on Mar 15 2025.
I DARE you!!!
Won't happen because it's ALL Monopoly Money
Trump himself isn't even worth that much money -My God -
https://www.bloomberg.com/opinion/articles/2024-12-09/donald-trump-s-bitcoin-reserve-would-rip-off-taxpayers
https://www.dailykos.com/stories/2025/1/11/2296314/-Surviving-Trump-Part-9-Your-IRAs-401ks-the-Coming-Republican-engineered-Crypto-Crash
https://bsky.app/profile/trcfwtt.bsky.social/post/3ljtwcckhok2x
Now tell me, that is unrelated, not part of any plan to lining his own pockets, as well as throwing some of the cronies a kickback.
One of those penal colonies in Siberia would be fitting.
He’s a lunatic.
It will be all confiscated crypto, which will enter the crypto reserve.
I am not a fan of Trump, but I don't like lies either.
Don't post disinformation.
He mentioned all legal means. He had a long list.
https://www.bloomberg.com/news/videos/2025-03-10/trump-establishes-first-us-bitcoin-reserve
Only seized crypto from American crypto companies go in that reserve.
The "old" plan was to buy it he changed his mind on a wimp again.
https://www.npr.org/2025/03/09/nx-s1-5321407/trump-is-going-to-create-a-cryptocurrency-reserve-heres-how-that-would-actually-work
'Through all legal means'
Since 2014 if you owe any $$ to the IRS and own crypto they can size it as a substitute for the cash you owe. They started calling crypto property and it was done. Clever.
So $$ from taxpayers into Crypto Reserve.
There is a difference.
Come on.
The idiot thinks he is a brilliant business person...this (and many other examples) proves he is not.
Where are the adults?
#trumprecession
This loss is just from the bitcoin the US has confiscated from criminals and hadn't sold before the announcement of the reserve.
AKA, eliminate as many government agencies as possible and use the funds 'saved' from gutting the government to buy more later
And are also in talks with Bernie Madoff.
The American Billionaires fell for the grift.
https://kabirasafaris.com/sabi-sands-safaris/
#Email: [email protected]
Did you or anyone you know say it was OK to do that? I didn't.
https://www.bbc.com/news/articles/cqx0g1py5v0o
This isn't rocket science.
It's SpaceX.
https://www.independent.co.uk/news/world/americas/trump-musk-fort-knox-gold-reserve-b2712352.html
We did.
Just like air, but harder to breathe.
Look no further
It was right in front of your face all along.
1. Did this admn actually invest tax dollars in crypto?
2. Did this admn actually lose 20 billion of tax dollars in crypto?
If so, this should be front page news, especially in light of the fact, we know they want to hand over SS to Wall Street.
2. No. The estimated total they have is $18B. Prices are volatile, it will go up and down.
3. I hate Trump and crypto. But 🤷🏽
It's just graft, unlike the rest.
Time to STOP paying taxes to federal government.
He probably list it on the way to depositing it. How would we ever know?
They are stripping our wealth as fast as they can.
It’s comical to hear the felon say, “we’re bringing wealth back!”
Really? Where is it? All these savings, I’m sure you’re starting an early bond buy back program soon, right?
Thieves and liars.