Eric Trump’s deleted tweet has raised eyebrows

This article is also available in Spanish.

While the price of Bitcoin is falling just below the previous all-time high of December 17th, US Senators Cynthia Loomis and Eric Trump reportedly discussed the concept of creating a US Strategic Bitcoin Reserve (SBR) at the Capitol yesterday. Called to discuss. Bloomberg’s Steven Dennis broke the news, while Swan, a crypto-focused platform, noted Eric Trump’s now-deleted retweet about the meeting.

Almost as soon as Eric Trump retweeted Swann’s post citing a conversation with Senator Loomis on SBR, he pulled it down without explanation. “What’s going on behind the scenes?” Swann questioned in a later tweet, suggesting that the rapid deletion may signal a high level of caution, possibly to avoid preempting an official announcement.

Developing: Eric Trump RT’d @SwanPost about his meeting with Senator Loomis on US strategic #Bitcoin Reserve—then promptly deleted it.

What’s going on behind the scenes? 🤔 pic.twitter.com/E7nqbieNIQ

– Swan (@Swan) January 22, 2025

This latest buzz follows the senator Loomis inaugurated Last year’s Bitcoin Act of 2024, a legislative proposal to formally establish a US strategic bitcoin reserve. Officially known as the Boosting Innovation, Technology and Competitiveness through Optimized Investment Nationwide (Bitcoin) Act, the bill would be funded over five years by reallocating existing resources within the Federal Reserve System and the Federal Reserve System. Outlines the US Treasury’s plan to acquire 1 million BTC in Treasury Department.

Bitcoin Reserve Rumors Accelerate With Ulbricht Apology

The concept of an SBR has gained new momentum after yesterday’s apology Ross Ulbricht By President Trump. Analysts note that during the 2024 conference, Trump floated the idea of transferring BTC seized by law enforcement to the national reserve. Now, with the amnesty promise fulfilled, many in the community are wondering if the SBR plan could be next on the administration’s agenda.

On forecasting platform Polymarket, odds A nearby SBR rose from 28% to 44% after news of the pardon broke. These odds once reached 59% around Inauguration Day. As of late, they had dipped back to around 28% – only to bounce back up again after Ulbricht’s release.

Related reading

The crypto analyst known as Byzantine General expressed optimism, posting on X: “The fact that he kept his promise to Ross is a good sign IMO that he is going to follow through with the crypto he supports. “

David Bailey, the CEO of BTC Inc who was instrumental in turning BTC into a Trump supporter, Added To speculation, commenting: “Tonight is about Ross but I’ll share it because I’m getting a lot of questions: I’m still expecting dedicated Bitcoin + Crypto EOs in the coming days. I don’t know what they say or exactly when they fall. I also fully expect the President to deliver on the SBR in his first 100 days. “

Anthony Pomplino, founder and CEO of Professional Capital Management, posted with similar confidence: “If Ross Ulbricht gets pardoned, we’re definitely getting strategic bitcoin reserves. Trump will make history with his pen.” ‘

In a separate discussion at the World Economic Forum, Coinbase CEO Brian Armstrong was asked about President Trump’s stance on the establishment of a US bitcoin reserve. Armstrong said:

“Well, I haven’t talked to him about it specifically, but I think he’s excited about it. I mean, he really wants to be the first bitcoin president. Cynthia Loomis in the Senate is actually, I think, the one driving this legislation around a strategic bitcoin reserve. And I think that’s a good idea. America is actually rich in a lot of things, gold, oil, I think 27 different rare minerals like palladium and all these things. And so, you know, I think the world is moving toward a bitcoin standard for money. They should absolutely be kept. Any government that owns gold must hold bitcoin as a reserve.

At press time, BTC traded at $105,382.