Latest news with #StrategicBitcoinReserve
Yahoo
20 hours ago
- Business
- Yahoo
Vice President JD Vance Just Delivered Incredible News to Bitcoin Investors
Vice President JD Vance gave the keynote speech at the Bitcoin 2025 conference in Las Vegas. Vance highlighted recent moves by the White House to create pro-crypto policies. Vance also emphasized that Bitcoin is a long-term strategic asset for the government, as well as a potential source of competitive advantage. 10 stocks we like better than Bitcoin › On May 28, Vice President JD Vance gave the keynote speech at the Bitcoin (CRYPTO: BTC) 2025 conference in Las Vegas. He offered a broad overview of what's coming next for crypto, as well as a few insights into how the White House is thinking about Bitcoin right now. Last year, President Donald Trump attended this same event, outlining the major pro-Bitcoin policies of his 2024 campaign platform. So now that top political leaders are openly embracing crypto, what should Bitcoin investors expect? A major focus of Vance's speech was a reiteration of the pro-crypto regulatory approach of the Trump administration. In just five months, the White House has already taken a number of big steps -- including a major shakeup at the Securities and Exchange Commission to make it more crypto-friendly, and the creation of the Strategic Bitcoin Reserve. All of this is good news for Bitcoin investors, of course. It opens the door to more innovation, economic growth, and wealth for everyday Americans. As Vance pointed out in his keynote, millions of Americans now own Bitcoin. So any moves that can help Bitcoin grow and prosper will help everyday Americans as they save for the future. And there's more good news on the way. Next up, says Vance, is new legislation for dollar-pegged stablecoins, as well as a comprehensive regulatory framework for crypto that will help to establish the official rules of the road for Bitcoin. Once that's in place, the mainstream adoption of crypto can really start. Institutions will no longer have an excuse not to get involved with Bitcoin. Vance also emphasized that the White House is thinking about Bitcoin as a long-term strategic asset. That was the stated purpose of creating the Strategic Bitcoin Reserve back in March. The next major step, says Vance, is new legislation that will codify the Strategic Bitcoin Reserve in law. Otherwise, the next administration could just as easily reverse the existing executive order with a new executive order of its own. There's a key reason the White House is thinking about Bitcoin as a "strategically important asset" these days. And that's because Bitcoin represents the sort of American values -- innovation, entrepreneurship, freedom, and lack of censorship -- that are anathema to countries such as China. In fact, as Vance pointed out, the U.S. should look to use Bitcoin as a source of competitive advantage against China. All of that should give hope to current Bitcoin investors. There's simply too much invested in Bitcoin for the U.S. government to back off now. The government is going all-in on Bitcoin. As a result, crypto has moved from the fringe to the mainstream. All of that sounds great, of course. It's great to hear that the government is embracing Bitcoin. It's fantastic to hear that Bitcoin could become the answer to some of the economic and strategic problems currently facing the Trump administration. However, it has become impossible to ignore the potential conflicts of interest that may exist. Vance, by his own admission, holds close to $500,000 worth of Bitcoin. Just days before the conference, Donald Trump's media company announced that it was planning to buy $2.5 billion worth of Bitcoin. And Eric Trump and Donald Trump Jr. (both of whom showed up at the Bitcoin 2025 conference) are engaged in Bitcoin ventures of their own. Even if there is no wrongdoing involved, the optics aren't great. It's the reason many people now think that tighter safeguards should be imposed on politicians to prevent them from enacting certain policies or taking certain actions that could be used to enrich themselves. The White House has given a strong signal of its support for Bitcoin. Crypto investors no longer need to worry about regulatory overreach, or about government policies specifically designed to limit innovation in the crypto sector. All of that is incredible news for Bitcoin. Suddenly, all the sky-high price forecasts for Bitcoin no longer seem so unattainable. As long as you are willing to buy and hold for the long haul, investing in Bitcoin right now might be the best way to turbo-charge the performance of your entire portfolio for years to come. Before you buy stock in Bitcoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bitcoin 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 $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $828,224!* Now, it's worth noting Stock Advisor's total average return is 979% — a market-crushing outperformance compared to 171% 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 May 19, 2025 Dominic Basulto has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy. Vice President JD Vance Just Delivered Incredible News to Bitcoin Investors was originally published by The Motley Fool
Sky News AU
a day ago
- Business
- Sky News AU
Australia's net zero obsession, high taxes holding back crypto sector as other nations capitalise on its 'transformative potential', top tech CEO says
Bitcoin's surge past US$100,000 this month, driven by the US Treasury's plan to expand its Strategic Bitcoin Reserve, marks a key moment in crypto's historic if volatile journey. Since its inception in 2009, Bitcoin's price has been a rollercoaster: from $0.40 in 2010 to surpassing $100,000 in 2025. Not many asset classes have provided returns in this vicinity – select top-performing stocks like NVIDIA or Tesla other rare examples. The question of course on everyone's mind? Is this meteoric rise sustainable, is it still just the beginning, or are we teetering on the edge of another correction? With Bitcoin's market cap now dancing around US$2.16 trillion, let's dive into its global impact, policies, and implications. A primer – what you need to know about the global crypto industry in five minutes Since its 2009 debut Bitcoin has evolved into a trillion-dollar ecosystem, weaving decentralised finance (DeFi), non-fungible tokens (NFTs), stablecoins, and blockchain applications into the fabric of global finance. Cryptocurrencies – digital assets secured by cryptography on decentralised blockchain networks - fascinate the imagination for their inherent transparency and immutability. Bitcoin remains the benchmark for a decentralised store of value, Ethereum captivates with smart contracts powering DeFi and NFTs, and stablecoins like Tether (USDT) and USD Coin (USDC) intrigue for enabling trading and remittances. But can crypto truly democratise wealth, or are we chasing a speculative bubble? As of May 2025, daily trading volumes in global crypto top $100 billion. Over 420 million users worldwide fuel adoption, from underbanked communities to institutional giants. Yet, volatility – evident in Bitcoin's climb from $62,000 in October 2024 to $110,000 now - along with regulatory uncertainty and mining's environmental toll, keeps a core question open: over the long term, how will cryptocurrency balance innovation with stability? Governments are wrestling with this fundamental question, creating a patchwork of regulatory approaches. Let's unpack them: The Trump administration's crypto ambitions Perhaps the biggest regulatory story in the crypto arena right now is the Trump administration's pro-crypto pivot. From a core campaign promise in the 2024 presidential election that arguably moved key voter cohorts into Trump's column, to the administration's current regulatory framework launched in January 2025 – it's been a market defining ride. President Trump appointed David Sacks as the White House AI and Crypto Czar, aiming to make the U.S. the 'world capital of crypto.' The GENIUS Act, introduced with Senators Tim Scott and Representative French Hill, targets stablecoin regulation, with Senator Bill Hagerty noting, 'Our goal is to create a framework that encourages innovation while protecting consumers.' Then we have Trump's March 2025 executive order to create a Strategic Bitcoin Reserve, using seized cryptocurrencies to avoid taxpayer costs, a move that sparked Bitcoin's climb past $90,000 in November 2024 and $100,000 in December. Mr Sacks recently stated that at one point in time, the US accumulated about 200,000-400,000 bitcoin on the federal balance sheet through civil and criminal asset forfeitures and sold roughly half of it for $360 million total through multiple auctions between 2014 and 2016. It's fun to speculate what a parallel reality might have looked like if the US government had held that bitcoin – it would be worth $20 billion today. The World's largest asset manager takes the blockchain leap In April 2025, the world's largest asset manager BlackRock ($USD 11.5T AUM) partnered with BNY Mellon to file for 'DLT Shares' in its $150 billion Treasury Trust money market fund. These Distributed Ledger Technology (DLT) Shares use blockchain to mirror share ownership, promising faster settlements and transparency for institutional investors with a $3 million minimum. BlackRock's CEO Larry Fink said, 'Tokenisation will revolutionize investing' by reducing market friction. This builds on their $2.5 billion BUIDL fund on Ethereum and Solana. So what happens when Wall Street co-opts decentralised tech? Are we seeing innovation or a corporate takeover of crypto's promise? Regulatory benchmarking – where global markets stand Crypto's global footprint, adoption and regulation vary wildly. An assessment of adoption (user base, transaction volume, infrastructure, percentage, and absolute number of crypto users) and regulatory favourability (clarity, support for innovation, investor protection) by key market helps paint a macro picture. The US leads with high adoption (15 per cent of its 340 million population, or 50 million users) and moderate regulation, bolstered by platforms like Coinbase and BlackRock's initiatives as described above, though compliance costs remain high. Singapore follows closely with strong adoption (14 per cent, five million users) and the most favourable regulatory environment, thanks to the MAS's clear licensing and tax incentives. The EU ranks third with strong adoption (10 per cent, 40 million users) and a robust MiCA framework, despite strict KYC/AML rules. India exhibits high adoption (7 per cent, 100 million users) but is tempered by low-to-moderate regulation due to heavy taxes and unclear licensing regimes. Nigeria's very high adoption (10 per cent, 22 million users) is constrained by low regulatory clarity post a 2021 ban. China is one of the most restrictive markets and thus lags with low adoption (1 per cent, 10 million users) and hostile regulations. Finally, Australia trails with moderate adoption (only 4 per cent of the population, or 1 million users) and regulation, hindered by licensing delays and conservative banking strategies, thereby falling behind more progressive markets like the US and Singapore. What to expect from here? Many believe crypto has the potential to be a great game-changer for the 21st century economy. The Trump administration's audacious crypto agenda, with its Strategic Bitcoin Reserve paves the way for a potential seismic shift that could cement the US as the global crypto epicenter. For the world, this policy could accelerate mainstream adoption, drawing billions into digital assets and challenging traditional finance. Australia's sophisticated consumer market offers a valuable tailwind into this trend, with 25 per cent of 18-34-year-old Australian's owning crypto according to the 2024 Independent Reserve survey. Firms like BetaShares launched crypto ETFs in 2024 and ASIC and AUSTRAC provide regulatory guardrails. Blockchain could unlock the potential of Sydney and Melbourne as fintech hubs in the Asia-Pacific region, and crypto's role in cross-border trade could boost the nation's export footprint. However, Australia's regulatory pace and uncertainty, restrictive banking and high taxes and compliance costs hold this sector back. Net zero goals conflict with crypto mining needs. Australia's famed superannuation funds allocate one to five per cent to crypto lured by Bitcoin's 60 per cent 2024 return but remain primarily focused on traditional assets and lag when compared to innovations such as BlackRock's blockchain-based DLT Shares offering. Small markets like Australia must swiftly innovate and align regulatory policies with global leaders to seize crypto's transformative potential, or risk being sidelined in this pivotal and rapidly unfolding next chapter of the digital economy. Kosha Gada is a tech entrepreneur who also serves as a board member of sports betting platform PointsBet. She is a broadcast commentator on US and international current affairs, appearing live three nights a week on Sky News Australia
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Business Standard
3 days ago
- Business
- Business Standard
Pakistan plans bitcoin reserve but govt says crypto still banned at home
In a high-profile presentation at the Bitcoin Vegas 2025 Conference, Pakistan took the global cryptocurrency community by surprise with an announcement to establish a state-backed Strategic Bitcoin Reserve, described as a symbolic step toward long-term engagement with decentralised finance. The declaration came from Bilal Bin Saqib, recently appointed as Special Assistant to the Prime Minister on Crypto and Blockchain with the status of a Minister of State. Saqib, also serving as CEO of the newly created Pakistan Crypto Council, made the announcement after delivering a keynote address attended by influential figures including US Vice President JD Vance, Eric Trump, and Donald Trump Jr. 'We want to thank the US because we are getting inspired from them,' Saqib said, directly tying Pakistan's crypto strategy to US President Donald Trump's pro-crypto stance. Is cryptocurrency legal in Pakistan? Government says no On May 30, Finance Secretary Imdadullah Bosal clarified before the National Assembly's Standing Committee on Finance and Revenue that cryptocurrency is not recognised as legal tender, citing guidance from the State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP). 'There will be a legal framework only when the government formally takes a decision,' Bosal said, confirming that existing crypto activities remain unlawful pending legislative changes. Pakistan proposes national Bitcoin wallet and crypto mining plan Saqib had revealed plans for a national bitcoin wallet to hold digital assets 'already in state custody,' framed not as speculative investments but as part of a 'sovereign reserve' to signal Pakistan's commitment to digital finance. In a bid to attract international crypto capital and technology firms, Saqib also announced the allocation of 2,000 megawatts of surplus electricity in the initiative's first phase. This power will support bitcoin mining and AI data centres, opening what Saqib described as a 'new digital frontier' to global investors, sovereign miners, and clean energy partners. 'Pakistan is no longer defined by its past. It is being reborn as a forward-looking hub of digital innovation,' Saqib said in a statement from his office. 'If you're building something real, come build it in Pakistan.' What is the Pakistan Digital Assets Authority and what will it do? Although parallel to Saqib's overseas campaign, the Pakistani government moved to create the Pakistan Digital Assets Authority (PDAA) on May 22, to regulate and formalise crypto and blockchain technologies. According to official statements, PDAA aims to develop a FATF-compliant regulatory framework, oversee virtual asset service providers (VASPs), and integrate blockchain in land records, finance, and governance systems. The Finance Division said the broader strategy was designed to monetise surplus electricity, create high-tech jobs, attract billions in foreign direct investment, and generate substantial revenue for the state. Economists warn against speculative crypto strategy and public risk While the government pitches crypto as an avenue for digital growth and foreign investment, several Pakistani economists are expressing alarm at what they view as a risky pivot toward fictitious assets. While some of these moves appear geared toward influence-building in Washington—especially with figures close to the Trump administration taking an active interest in Pakistan's crypto developments—economists argue that when crypto is positioned as a serious business proposition by the government, it becomes dangerous because the resources being put at risk are public. One concern is the speculative nature of sovereign crypto holdings. Economists noted that suggestions to invest part of Pakistan's foreign exchange reserves in crypto mirror tactics used by speculative brokers, highlighting bitcoin's historic price rises without mentioning its extreme volatility. Bitcoin mining in Pakistan: Why are electricity subsidies raising questions? The government's allocation of 2,000 MW for bitcoin mining has also sparked scrutiny. Economists question why crypto miners should receive electricity at subsidised rates per unit, far below the rate paid by households and industry, calling the move 'puzzling and opaque.' Crypto, unlike traditional assets such as money or gold, remains largely a speculative construct with limited liquidity and broader systemic risks. Experts have likened it to previous financial bubbles built on fictitious assets, from plot file scams to the collateralised debt obligations (CDOs) that precipitated the 2008 global financial crisis.
Business Recorder
3 days ago
- Business
- Business Recorder
Bitcoin Vegas in US: Pakistan unveils first govt-led Bitcoin reserve
ISLAMABAD: Minister for Crypto & Blockchain Bilal Bin Saqib on Thursday announced Strategic Bitcoin Reserve at Bitcoin Vegas 2025. In front of an elite audience that included the Vice President of the United States, JD Vance, Eric Trump, and Donald Trump Jr., Bilal Bin Saqib, Pakistan's Minister for Crypto & Blockchain and CEO of the Pakistan Crypto Council, delivered a commanding keynote at Bitcoin Vegas 2025, unveiling the country's first government-led Strategic Bitcoin Reserve and with it, a radically new vision of Pakistan on the global map. Bilal's message was bold: Pakistan is no longer defined by its past. It is being reborn as a forward-looking hub of digital innovation powered by its youth, sharpened by necessity, and led by a new generation of tech statesmen. I'm not just here as a minister, Bilal said. I'm here as the voice of a generation a generation that is online, on-chain, and unstoppable. At just 34 years old, Bilal Bin Saqib has become the leading voice of a new Pakistan one with over 40 million crypto wallets, a median age of 23, and one of the largest and most active freelancer economies in the world. While other leaders talk about potential, Bilal is unlocking it with bold national moves that put Pakistan at the centre of the global crypto conversation. In his keynote, Bilal announced the establishment of a national Bitcoin wallet, holding digital assets already in state custody not for sale or speculation, but as a sovereign reserve signalling long-term belief in decentralised finance. He also thanked President Donald Trump for his role as a peacemaker in the recent India-Pakistan conflict and for his commitment to crypto adoption. He also revealed that the Government of Pakistan has allocated 2,000 megawatts of surplus electricity in Phase 1 for Bitcoin mining and AI data centres, opening doors to sovereign miners, tech firms, and clean energy partners around the world. To harness this momentum, Bilal is also leading the creation of the Pakistan Digital Assets Authority (PDAA), a regulatory body designed to empower builders, protect investors, and formalise digital finance frameworks for the future. 'Both Pakistan and Bitcoin have suffered from bad PR.' Bilal declared. But if you look past the headlines, you'll see something else: talent, resilience, and vision. His speech was not only a historic moment for Pakistan, but a call to global builders: If you're building something real come build it in Pakistan. Come build wallets for the unbanked. Come tokenize land. Come scale your mission with our youth and our unstoppable grit. As global eyes turned to Las Vegas, Bilal Bin Saqib delivered more than a keynote. He delivered a blueprint for the future of emerging markets in Web3 one that positions Pakistan as a tech-forward, youth-powered and opportunity-rich nation ready to lead. Copyright Business Recorder, 2025
Express Tribune
4 days ago
- 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.
