U.S. Central Bank's Digital Currency Will Line Pockets of Politicians, Not Strengthen Economy

US Bitcoin Reserve Will Enrich President Trump and Allies, Not Taxpayers: Lawmaker

In a shocking revelation, a US lawmaker has warned that the newly established US Bitcoin Reserve will primarily benefit President Trump and his allies, rather than the American taxpayers who will be footing the bill.

The US Bitcoin Reserve was created by the Trump administration in 2020, with the aim of stabilizing the global financial system by holding a portion of the country's foreign exchange reserves in Bitcoin. However, according to Representative Rashida Tlaib, the reserve will not benefit the American people, but rather the wealthy elite who have ties to the administration.

In a scathing letter to the US Treasury Secretary, Tlaib wrote, "The US Bitcoin Reserve is a slush fund for President Trump and his wealthy friends, rather than a tool to benefit the American people. It is a clear example of crony capitalism, where the wealthy elite are given preferential treatment at the expense of the working class."

Tlaib's letter highlighted the fact that the reserve is not transparent, and that the administration has refused to disclose the names of the individuals and companies that will be benefiting from the reserve. The lawmaker also pointed out that the reserve is not subject to the same financial regulations as other government programs, which raises concerns about accountability and transparency.

The US Bitcoin Reserve has been criticized by many experts and lawmakers who argue that it is a risky and unnecessary move that could destabilize the global financial system. The reserve has also been accused of being a tax shelter for the wealthy, as the Bitcoin held in the reserve will not be subject to capital gains taxes.

In response to the criticism, the Trump administration has defended the reserve, arguing that it will help to stabilize the global financial system and provide a hedge against market volatility. However, many experts remain skeptical, and the controversy surrounding the US Bitcoin Reserve is likely to continue in the coming months.