Dennis Kelleher Op-ed in Barron’s: Trump’s Crypto Plan Is Neither Strategic Nor a Reserve
The following op-ed appeared in Barron’s on March, 19, 2024.
President Donald Trump recently announced he would create what he called a “strategic crypto reserve.” This proposal not only lacks any real basis in economic logic but raises serious concerns about the long-term consequences for American taxpayers, who have little to gain and much to lose from the plan.
The reserve will be funded initially by assets already seized in civil and criminal proceedings, and later by some to-be-determined “budget-neutral strategies,” according to a White House release. It won’t be limited to bitcoin, the best-known cryptocurrency. It also includes other cryptocurrencies, such as Ethereum, XRP, Solana, and Cardano, which…
