Gairika Mitra
Democratic representative Ro Khanna has emerged as a vocal advocate in solidifying Bitcoin’s place in America’s financial strategy.
According to analytics platform Radar on X, Khanna called for the U.S. to hold onto Bitcoin seized from criminal activities rather than auctioning it off, as has been standard practice. He also reportedly highlighted the digital currency’s role in positioning the U.S. at the forefront of the global crypto economy.
JUST IN: 🇺🇸
— Radar🚨 (@RadarHits) October 2, 2024
Congressman Ro Khanna supports establishing a #Bitcoin Strategic Reserve pic.twitter.com/C3RVfK0SlW
As Bitcoin’s value continues to surge, lawmakers also increasingly consider it a potential reserve asset for the U.S. government. Senator Cynthia Lummis even drew a bolder comparison, likening Bitcoin to the Louisiana Purchase. She recently introduced legislation requiring the Federal Reserve and Treasury to buy one million Bitcoin for the nation’s reserves, calling it “the modern day digital gold.”
The idea of a national Bitcoin stockpile gained further traction through endorsements from high-profile figures like Republican presidential candidate Donald Trump. At a recent conference, Trump advocated for the creation of a national Bitcoin reserve. He vowed to never sell the approximately 200,000 Bitcoin that the U.S. government currently holds from seizures. He even compared Bitcoin’s potential to that of the early steel industry. He stated his intention to make America the “crypto capital of the planet.”
Robert F. Kennedy Jr., a former presidential candidate and current Trump advisor, has floated an ambitious alternative: acquiring 5 million bitcoin, which would amount to roughly 25% of the global bitcoin supply. Kennedy’s proposal is inspired by the U.S.’s historical role in holding a significant portion of the world’s gold reserves, arguing that a similar strategy with bitcoin would solidify America’s leadership in the digital economy.
Dell’s Billion-Dollar Share Sale and Metaplanet’s Expanding Bitcoin Holdings Signal Strategic Shifts
The Shib Daily previously reported that Michael Dell, the founder and CEO of Dell Technologies, has sold 10 million shares of his company, valued at roughly $1.22 billion. This latest sale comes on the heels of a similar transaction made between September 19 and September 23, during which Dell sold an additional 10 million shares, valued at approximately $1.17 billion. Despite these sizable sales, Dell still holds over 16.91 million shares, with a market value surpassing $2 billion.
Japanese investment firm Metaplanet also announced on Tuesday the acquisition of an additional 107.9 Bitcoin, valued at 1 billion yen ($7 million). This latest purchase brings the company’s total Bitcoin holdings to 506.7, worth approximately 4.75 billion yen ($33.2 million).
ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event in November! Tickets are available now at shibacon.shib.io.
Read More
- Metaplanet Expands Bitcoin Holdings with $7 Million Buy
- Is Michael Dell Selling His Stock to Invest in Bitcoin?
- Memecoins Surge as Bitcoin Rally Sparks Double-Digit Gains
Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
