Latest news with #DigitalAssetStockpile
Express Tribune
29-05-2025
- Business
- Express Tribune
Bilal Bin Saqib announces Pakistan's first strategic Bitcoin reserve
Listen to article Pakistan has launched its first government-backed strategic Bitcoin reserve, marking a dramatic shift in its stance on cryptocurrencies. The announcement was made by Special Assistant to the Prime Minister (SAPM) on Crypto and Blockchain, Bilal Bin Saqib, at the Bitcoin 2025 conference in Las Vegas. Speaking to an international audience that included US Vice President JD Vance, Eric Trump, and Donald Trump Jr, he said the country is allocating 2,000 megawatts of surplus energy in Phase 1 to support Bitcoin mining operations and artificial intelligence (AI) data centres. 'The Pakistan of tomorrow is being built today by its youth and led by a new generation of tech statesmen,' said Saqib, adding that the move follows the US government's example in establishing a Bitcoin strategic reserve and reflects a broader shift towards pro-crypto policy under the Donald Trump administration. 🇵🇰 BREAKING: Pakistan to Launch a Strategic Bitcoin Reserve! At the #Bitcoin 2025 Conference in Las Vegas, Pakistan made a historic move Pakistan's Special Assistant to the PM on Blockchain, Bilal Bin Saqib, announced that the country will officially build a Strategic Bitcoin… — Crypto Patel (@CryptoPatel) May 28, 2025 In February 2025, Pakistan established a National Crypto Council to draft regulatory frameworks and attract foreign crypto investment. In April, Binance co-founder Changpeng Zhao was appointed as an adviser to the council. READ: Govt allocates 2,000MW for AI data centres, bitcoin mining On April 27, Trump-backed decentralized finance protocol World Liberty Financial (WLFI) signed a letter of intent to support Pakistan's tokenization of real-world assets and development of DeFi infrastructure. In another major step, Pakistan's Ministry of Finance recently commissioned the creation of the Digital Asset Authority to oversee licensing and regulation of crypto platforms. In further development, US President Donald Trump has issued an executive order to establish a "Strategic Bitcoin Reserve" and a "Digital Asset Stockpile". These reserves will be initially funded using cryptocurrencies seized by the government in criminal and civil asset forfeiture cases. JUST NOW! President Trump signs an Executive Order establishing the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile 🇺🇸 — Margo Martin (@MargoMartin47) March 7, 2025 David Sacks, the White House official overseeing AI and crypto policy, confirmed the move in a post on X on March 7. He explained that the Bitcoin reserve would be filled using federally held Bitcoin, while the Digital Asset Stockpile—announced in a March 6 White House fact sheet—will include other types of cryptocurrencies. This executive action marks a formal step toward integrating digital assets into US government financial planning and infrastructure.
Yahoo
30-04-2025
- Business
- Yahoo
Should You Buy XRP (Ripple) While It's Under $2.50?
XRP's recent gains were driven by election results and federal crypto reserve rumors, but those catalysts have faded. The cryptocurrency's price reflects both its real-world utility and a fair amount of speculative hype. Investors should weigh their risk tolerance and the uncertain outlook before buying XRP now. Back in early November 2024, the XRP (CRYPTO: XRP) cryptocurrency was hanging out at just $0.50 per coin. It wasn't exactly setting the world on fire, having seen plenty of volatility but no value-building gains to speak of in the previous four years. Then, the election results sparked a quick price jump. XRP shot up to $2.70 by Dec. 2. A couple of months later, rumor had it that XRP might be part of a new federal crypto reserve, and that hype pushed it up even further. The XRP chart peaked at $3.84 in mid-January, while peers like Bitcoin (CRYPTO: BTC) were setting all-time records. But XRP wasn't actually included in the Strategic Bitcoin Reserve or the Digital Asset Stockpile, and the coin lost momentum on the news. Furthermore, risky assets like crypto have cooled off a bit in this unstable economy. So as of April 28, 2025, XRP is sitting at $2.29 per coin. Still way up from a few months ago, and far above the modest long-term averages, but also significantly below its recent highs. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » With a total market value of $134 billion, XRP is still the fourth-largest name in crypto. Is it a bargain below $2.50, or should you wait for a lower price before building an XRP position in your crypto portfolio? Let's take a look. I'll start from the bearish side of the XRP debate. Many investors would argue that XRP should be out of rocket fuel by now. The election-powered November gains are not coming back. That was a one-time market effect. The long-running legal battle with the U.S. Securities and Exchange Commission has pretty much fizzled out, and market forces are already accounting for this bullish fact. The actual crypto reserve service probably won't even buy much Bitcoin, and XRP purchases are much lower on the federal priority list. This potential price-boosting catalyst failed to materialize, leaving XRP prices overvalued due to speculative moonshot investing. Moreover, many other cryptocurrencies are starting to look like serious rivals to XRP's international payment services. Wouldn't a Ripple-like money transfer tool work just as well from an Ethereum (CRYPTO: ETH) or Solana (CRYPTO: SOL) platform, for example? With so many question marks and weaknesses in play, XRP surely looks poised for a painful price correction. Right? Those bearish arguments are real, and I completely understand if you're convinced that XRP is a poor investment today. But there's another side to this coin. XRP's bullish investors can also bring serious arguments to this debate. The election drama is over, but there's more to the XRP story than pure media hype. Meme coins like Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) rise and fall almost entirely because of their media chatter. These coins were always jokes at the core, often with objectively negative tweaks to their original platform designs. XRP, on the other hand, is the lifeblood of a serious international payments system. RippleNet is already a significant financial force today, and could become a trillion-dollar business someday. The legal scuffle is over, but its long-term effects on the cryptocurrency market will play out over many years. XRP's courtroom efforts may have prepared digital assets for a much larger role in the American economy. So while the headline is old news, the beneficial ripple effects (pun intended!) could play out for a long time. Competition can be a double-edged sword. Payment services from rival crypto communities should motivate the XRP and Ripple team to continue innovating. And RippleNet comes with the hard-to-beat advantage of having several dozen partnerships with local banks around the world. This competitive advantage should make XRP-based transactions smoother and more transparent to the sender and receiver. It's not an unbeatable edge, but certainly a helpful one. From this perspective, XRP could be in the early stages of a massive market opportunity. $2.50 would be a bargain buy-in price if this system becomes a world-class standard for international payments. And what if XRP-based digital coins can replace old-school fiat currencies? There are several such projects under development, perhaps opening the door to another trillion-dollar market. Should you buy XRP while it's under $2.50 per coin? That depends on your risk tolerance, your views on the future of international payments, and your confidence in Ripple's ability to hold off its rising rivals. I'm convinced that XRP has a bright future, but it's hard to tell how much of that incoming boom is reflected in the current price. Slow and steady wins the race, especially in long-winded contests like your quest for financial independence. As with any investment -- especially one as volatile as cryptocurrency -- make sure you're comfortable with the risks before diving in. And always remember: There's nothing wrong with waiting for more clarity if you're not sure which way this story ends. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $598,818!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $666,416!* Now, it's worth noting Stock Advisor's total average return is 872% — a market-crushing outperformance compared to 160% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 28, 2025 Anders Bylund has positions in Bitcoin, Ethereum, Solana, and XRP. The Motley Fool has positions in and recommends Bitcoin, Ethereum, Solana, and XRP. The Motley Fool has a disclosure policy. Should You Buy XRP (Ripple) While It's Under $2.50? was originally published by The Motley Fool
Express Tribune
24-04-2025
- Business
- Express Tribune
Trump's crypto coin surges after dinner invite for top holders
Listen to article Donald Trump's meme cryptocurrency, $TRUMP, has seen a sharp rise in value after an attention-grabbing offer promised a private dinner with the US President for its wealthiest holders. The official website for the coin unveiled a new campaign stating that the top 220 holders of the digital asset will be invited to a black-tie dinner at Trump National Golf Club in Washington, D.C., on May 22. A special reception with the president is also planned exclusively for the top 25 holders, giving participants unprecedented access to Trump in what is being described as one of the most exclusive events of the year. The announcement sent the token's value soaring by more than 70% in just a few hours, reversing part of a steep decline the coin had faced in recent months. Despite the jump, the current price remains well below the all-time high of over $75 reached shortly after its January launch. Originally released just days before Trump's second inauguration, the $TRUMP coin is part of a broader suite of Trump-linked digital ventures. These include NFTs, crypto platforms, and now investment products through his media company, all promoting the former president's self-proclaimed identity as the "crypto president." The coin's website positions the event as a unique opportunity for supporters to be personally acknowledged by Trump and to discuss his vision for the crypto industry. It includes a real-time leaderboard, ranking wallet holders based on how much $TRUMP they own and how long they've held it between April 23 and May 12. Only those who remain in the top tiers by the deadline will be eligible to attend the dinner or the VIP reception. In addition to this promotional push, Trump has taken formal steps to align the presidency with the growing digital economy. Earlier this year, he signed orders to establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile—federal holdings built from seized or forfeited cryptocurrencies. These steps, combined with the formation of a presidential working group on digital assets, have made the Trump administration's stance on crypto more aggressive than ever before. However, the latest offer has drawn criticism. Ethics groups and political opponents have called the dinner plan a transparent attempt to link financial speculation to presidential access. Critics argue it crosses ethical lines, using the office to benefit speculative investors while undermining public trust. Meme coins like $TRUMP are typically driven by hype, celebrity, and culture, rather than economic fundamentals. These tokens are often volatile and lack real utility. The president's embrace of this trend, paired with public incentives, has only intensified the debate around the intersection of politics, money, and digital finance.
Yahoo
24-04-2025
- Business
- Yahoo
Trump crypto soars as president offers dinner to top holders
The price of Donald Trump's cryptocurrency has soared after the US president promised to host two special events for its top investors. The website for the $Trump meme coin says its 220 biggest holders will be invited to a private gala dinner with the president on 22 May, describing it as the "most EXCLUSIVE INVITATION in the world." According to crypto trading platform Coinbase, $Trump jumped by more than 70% after the announcement. But it remains well below the record high of more than $74 (£42.40) reached shortly after its launch in January. The digital currency is one of several crypto-related ventures launched by businesses linked to Trump, who has called himself the "crypto president". As well as the gala dinner, which will be held at the Trump National Golf Club in Washington DC, there will be "an ultra-exclusive private VIP reception with the President" for the top 25 coin holders, the coin's website said. Trump tokens in circulation are currently worth a total of around $2.5bn. They were first released just days before his inauguration on 20 January. The move was criticised by several people in the crypto industry, with some calling it "a stunt". First lady Melania Trump also launched a cryptocurrency on the eve of the inauguration . Meme coins are often used by speculators to make money or to allow fans to show support to a celebrity or moment in internet culture. Shortly after returning to the White House this year, Trump signed an executive order to create a presidential working group tasked with proposing new crypto laws and regulations. He has also signed an order to create a Strategic Bitcoin Reserve as well as a Digital Asset Stockpile, which will include other digital currencies. Those funds will be stocked with coins forfeited to the federal government as part of criminal or civil proceedings.
BBC News
24-04-2025
- Business
- BBC News
Trump crypto soars as US president offers dinner to top holders
The price of Donald Trump's cryptocurrency has soared after the US president promised to host two special events for its top website for the $Trump meme coin says its 220 biggest holders will be invited to a private gala dinner with the president on 22 May, describing it as the "most EXCLUSIVE INVITATION in the world."According to crypto trading platform Coinbase, $Trump jumped by more than 70% after the announcement. But it remains well below the record high of more than $74 (£42.40) reached shortly after its launch in digital currency is one of several crypto-related ventures launched by businesses linked to Trump, who has called himself the "crypto president". As well as the gala dinner, which will be held at the Trump National Golf Club in Washington DC, there will be "an ultra-exclusive private VIP reception with the President" for the top 25 coin holders, the coin's website tokens in circulation are currently worth a total of around $2.5bn. They were first released just days before his inauguration on 20 move was criticised by several people in the crypto industry, with some calling it "a stunt".First lady Melania Trump also launched a cryptocurrency on the eve of the inauguration .Meme coins are often used by speculators to make money or to allow fans to show support to a celebrity or moment in internet after returning to the White House this year, Trump signed an executive order to create a presidential working group tasked with proposing new crypto laws and has also signed an order to create a Strategic Bitcoin Reserve as well as a Digital Asset Stockpile, which will include other digital funds will be stocked with coins forfeited to the federal government as part of criminal or civil proceedings.
