Former President Donald Trump has initiated a Strategic Bitcoin Reserve, according to Bitwise CIO Matt Hougan, who states that this move removes the 'last existential risk' for Bitcoin, positioning it as the 'best backup plan on the market.' Hougan also mentioned that now is the best time to buy Bitcoin on a risk-adjusted basis. Senator Cynthia Lummis has expressed support for the strategic reserve, suggesting that holding Bitcoin for 20 years could help reduce the U.S. national debt by half and assist in balancing the federal budget. Lummis, who has been focused on budget balancing since her time in the Wyoming State Legislature, believes the reserve could be instrumental in achieving fiscal stability. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
