Dragonfly Partners: The idea of the US government directly buying cryptocurrencies may be opposed

Odaily reported that industry insiders believe the recent executive order signed by Trump to assess strategic national digital asset reserves is a historic step for the crypto industry, even though some had expected the government to directly order the establishment of a Bitcoin strategic reserve. Dragonfly partner Rob Hadick said "This is the best outcome we can hope for, and a good signal that the government is willing to consider this initiative." However, he pointed out that the idea of the US government directly purchasing cryptocurrencies may face opposition, as "most traditional economic advisors will strongly oppose it...I expect the outcome may disappoint the market when everything is settled." Others emphasized the global significance of the proposal. Framework Ventures partner Brandon Potts said "If the government really starts buying cryptocurrencies in the open market, it could have a domino effect, prompting other countries to follow suit - even if they don't have full confidence in the crypto space - just to remain competitive." The executive order proposes a six-month evaluation period, but some venture capital firms believe the process can be faster. Tribe Capital's Revsin said "If they want to, they could complete the framework in a matter of weeks, drawing inspiration from the spirit of rapid execution in the crypto world. We do expect them to continue to build reserves, and that will include purchasing crypto assets, starting with Bitcoin, and potentially expanding to other digital assets over time." While the specifics of the plan remain uncertain, venture capitalists said the executive order has made one thing clear: Crypto is now a priority for the Trump administration, and the coming months will determine the extent to which the US is willing to embrace digital assets at the national level.