Jan3 CEO Samson Mow has defended Donald Trump’s decision and terms of the Bitcoin Strategic reserve.
In his X post, Mow explains “Some Bitcoiners are saying the Strategic Bitcoin Reserve doesn’t do anything because it’s just seized assets and there’s no buying. Well, there will be buying. There are a number of “budget neutral” ways to acquire Bitcoin such as issuing BitcoinBonds or selling gold.”
The reaction comes after Donald Trump approved the US Bitcoin reserve decision. As UnoCrypto reported earlier, U.S. President Donald Trump signed an executive order Thursday to establish a strategic bitcoin reserve.
Jan3 CEO Explains The Significance of Bitcoin Strategic Reserve
Mow further explains, “The significance of the SBR creation is immense. The ETFs legitimized Bitcoin as an asset class and opened the door for institutional investments. Today, with the stroke of a pen, Donald Trump has equivocated Bitcoin with gold.”
He further adds, “The SBR is a digital Fort Knox. Let that sink in. The real race for nation-state Bitcoin adoption really begins. The SBR also means we will finally get an official audit for how much Bitcoin the US actually has.”
Why is Bitcoin Community Criticizing Trump’s Actions?
Most market participants doubt that Trump’s decision to build the Bitcoin Reserve with just the seized assets might fall flat in the future.
According to the government’s earlier announcement, only federally owned Bitcoin that had been seized as part of criminal or civil asset forfeiture proceedings would be used to fund the reserve.
Mow via his X post says, “Every figure we have now is simply an estimate, and we know the US Marshalls have been selling off BTC for the last few years. It’s likely the US has 112k BTC or less because 95k belongs to Bitfinex and will be returned.”
Mow’s argument that the US government can still buy more Bitcoin’s might seem like a relief for many proponents, since the worry about the Bitcoin Reserve not performing well has kept Bitcoin price under pressure.
“It does not have the 207k to 220k BTC number that many news sites usually go with. This would put China in the pole position with 194k BTC. Now, you can imagine why that won’t be acceptable. With Bitcoin being deemed as strategic, the US will want to have the most – there will definitely be an audit of the supply and then ADDING to it,” he adds.
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