Why the U.S. Under Trump Might Start Amassing Bitcoin, and What That Means for Its Price

Senior Policy Advisor Scott Mason was interviewed for a Markets Insider article about what a second Trump Administration means for the cryptocurrency industry. During his campaign, Trump pledged to create a national bitcoin stockpile, around the same time that Sen. Cynthia Lummis (R-Wyo.) introduced the BITCOIN Act calling for the U.S. to accumulate 1 million bitcoins over 20 years. Proponents of the plan say amassing bitcoin could help the country offset rising debt and counterbalance the weakening of the U.S. dollar should inflation begin rising again. Critics raise concerns about investing in a volatile asset and its potential inflationary effects. Mr. Mason noted the industry looks forward to a Trump presidency but cautioned that Congress, the U.S. Department of the Treasury and Federal Reserve will have to collaborate to create a reserve, which could take time.

"I think it's exciting in the sense that it certainly gives credibility to cryptocurrency and bitcoin," he said.

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