"US Democratic Party Strongly Opposes Trump's Bitcoin Stockpiling Plan... Only Benefits the President and His Associates"
Summary
- The U.S. Democratic Party criticized Donald Trump's Bitcoin strategic stockpiling plan, saying it would only benefit the president and his associates.
- Representative Gary Connolly warned that the plan would boost digital asset prices and expose taxpayers to financial risks.
- The media reported that attention is focused on whether the Trump administration will continue to pursue the strategic cryptocurrency stockpiling plan amid political pressure.
A U.S. Democratic House member strongly criticized Donald Trump's strategic Bitcoin (BTC) stockpiling plan and urged its immediate termination.
According to cryptocurrency media DL News on the 14th, Democratic Representative Gerry Connolly criticized in a letter to U.S. Treasury Secretary Scott Bessent, saying, "Strategic cryptocurrency reserves provide no practical benefit to the American people, but rather will bring enormous wealth to the president and his donors."
Representative Connolly pointed out, "This plan risks artificially inflating the price of certain digital assets while exposing taxpayers to extreme financial risks." The Democratic Party warned that this plan has nothing to do with public interest and is likely to work in favor of specific stakeholders.
The media added, "It remains to be seen whether the Trump administration will push ahead with the strategic cryptocurrency stockpiling plan amid this controversy or retreat under political pressure."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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