Reminder: Congress, not POTUS, manages the budget

Trump may be willing to test the limits of his power but the presidents authority to invest tax payer dollars in crypto is checked by Congress.

And given how widely negative the reaction has been to Trump’s announcement, he’ll have a hard time getting the approval for it, even from the current Republican controlled Senate and House.

For example, Senator Lummis, who chairs the Senate Panel on Digital Assets, has openly called XRP a scam. And Representatives Bill Mercer, Tony Gonzalez and Don Bacon have said they would reject crypto reserves.

While using tax payer dollars to buy altcoins has little hope of passing Congress, Trump maybe still be able to allocate the 207,189 BTC already held by the U.S. government into a Bitcoin-only Strategic Reserve with an executive order.

Nothing has done more to impair the bull market than crypto degenerates placing their hopes on the influence of lobbyists to enact egregious corruption. Crypto was originally conceived as a tool of the public to circumvent exactly the same corruption that many of you are so eager for. But unless you’re a Washington insider, corruption will never benefit you. The only way we can move forward as an industry is to support fair, apolitical competition.