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More discussion: https://news.ycombinator.com/item?id=43286569
Bought by crypto bros. Sad.
Charles Edwards, founder of bitcoin-focused hedge fund Capriole Investments, wrote in a post on X.
"No active buying means this is just a fancy title for Bitcoin holdings that already existed with the Govt.“Actually read it. Theyre just going to hoard what they keep from criminal confiscations and not buy. So crypto bros are disappointed.
More inept communications by an inept administration.
It doesn't matter how the reserve is funded. They got what they wanted: an announcement that legitimizes crypto in an unprecedented way, which also resulted in a massive pump of the value of the named coins.
And if you're wondering if Trump openly, brazenly did some insider trading on those coins, you should really know him better by now[1]. You can always assume there's a grift that transfers money from other people to him.
1. https://www.bloomberg.com/news/articles/2025-03-06/trump-s-c...