JAKARTA - In a recent discussion on US crypto policy, Luke Gromen, a macroeconomic expert suggested that US President-elect Donald Trump postpone the announcement of plans to form a national Bitcoin (BTC) reserve or Bitcoin Reserve. According to Gromen, the plan would be more profitable if it was carried out quietly, before it was officially announced.
Gromen shared his views in an interview with venture caption Preston Pysh. He explained that if Trump immediately announced plans to accumulate Bitcoin after being inducted, investors would likely react by buying large amounts of Bitcoin. This could push the price of BTC to plummet before the US government has the opportunity to determine its position in the market.
"Strategy, it makes more sense not to announce it on the first day. On the other hand, keep talking positively about Bitcoin, buying behind-the-scenes, and controlling price graph movements while still voicing support," Gromen said.
He added that the announcement of the Bitcoin reserve plan after the government's strong enough position could trigger a large rally that would quickly enrich the country's treasury.
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Donald Trump, previously known as a vocal critic of crypto assets, has now changed his views to more pro-crypto. At the Bitcoin2024 conference, he stressed his commitment not to sell government confiscated Bitcoin in the open market. Instead, he instructed the relevant officials to keep the BTC as a long-term investment.
Trump also hinted that crypto assets could be used to help pay off US national debt that continues to swell, although he did not specify how the plan would be implemented.
The discourse on Trump administration which will form a national Bitcoin reserve is getting stronger after the statement. This move is in the spotlight, given the potential for Bitcoin, which is now returning to the level of US$100,000 (Rp1.6 billion) today.
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