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A senior Democrat urged the US Treasury to stop the construction of the strategic bitcoin reserves by President Donald Trump, saying it “will enrich the president and the donors.”
The representative of the house, Gerald E. Konoli of Michigan on March 13 “such a reserve does not provide any clear benefit to the American people.” letter To Treasury Secretary Scott Bessin.
He added that the plan, which is called “Ideas, is absolutely stupid” by the Federal Reserve official, will be lost taxpayers.
Trump’s Bitcoin strategic reserves will lead to a “improper financial policy”
In his message to the Treasury, Honoli also warned that Trump’s plan could lead to an “improper financial policy” because it enhances some encryption on others on social media.
This, according to the legislator, no one else other than the current Bitcoin will benefit Sophisticated Companions, as well as the president himself.
He also said that there is no need to invest in the “volatile and speculative cryptocurrency market.”
Trump’s encryption reserves “will not be more than just a highly supported hedge of tax support Bitcoin The speculators emphasize that when the accident comes, the state will spread this box to save it. “
Connecti arguments contradict the data made by the White House regarding the reserve.
Trump of Crypto and AI CZAR DAVID SACKS recently said the fund would only include the digital assets that the government seized. He also said that the government explores costly neutral strategies to build reserves that will not affect taxpayers.
Just a few minutes ago, President Trump signed an executive order to create the Bitcoin Strategic Reserve.
The reserve will be deported with Bitcoin owned by the federal government that has been confiscated as part of the procedures for confiscating criminal or civil assets. This means that …
David Sachs (@Davidsocks47) March 7, 2025
The proposed strategic bitcoin reserves offers a conflict of interests
Konoli also argued that Trump’s pushing for an American strategy encryption reserve represents a conflict of interests, given the ownership of the President’s family for global freedom.
By introducing laws that prefer digital assets and pressure the United States encryption reserve, Honoli argued that the president and his family benefit from the Defi project, which contains large digital assets holdings and continues to purchase more encryption.
The Donald Trump project bought $ 100,000 from $ Sei
World Liberty Fi titles sent $ 25 million to a separate address last week.
This address bought only $ 100,000 from SEI on Ethereum, and returned it to the main WLF address. pic.twitter.com/wxvsyifsk
Archham (Rechham) March 13, 2025
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