Schiff’s belief stems from a recent move by the Biden administration, which transferred $2 billion worth of Bitcoin to an unknown wallet. This development, which was first identified by the crypto intelligence platform
This action took place just days after former President Donald Trump’s speech in Nashville, where he promised that the US would never sell its BTC and would instead hold it as a strategic asset. “If #Trump really intended to use seized #Bitcoin to start a U.S. “strategic” reserve, he’d have kept his intention a secret until he was actually in office.”“Now that the #Biden administration is wise to his plan, they’ll make sure to sell every Satoshi before Trump takes office.
However, following the Biden administration’s recent move, BTC dropped by over 4% in the past 24 hours and was trading at $66K.“Tone deaf anyone??? Moving Silk Road BTC two days after Trumps pledge to not move them is just dumb!!!!”Here, Winklevoss implied that this move sends a contradictory and negative signal to the cryptocurrency industry, suggesting instability or inconsistency in the current administration’s approach to managing its Bitcoin reserves.
“We’re going to Free Ross. We’re going to Fire Gary Gensler. We’re going to make America and Bitcoin greater than ever before.”Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.Subscribe to get it daily in your inbox.