U.S. Government Plans to Use Tariff Revenue to Buy Bitcoin Amidst Growing Global Competition

On April 15th, COINOTAG News reported that the U.S. Presidential Advisory Council on Digital Assets suggests utilizing tariff revenue for Bitcoin acquisitions, aiming to solidify America’s position in the evolving financial landscape. The council emphasized the commencement of a global competition for Bitcoin, underscoring the necessity for swift action in amassing what is often referred to as digital gold. Following an executive order dated March 6th, the establishment of a Strategic Bitcoin Reserve (SBR) and a Digital Asset National Reserve (DANR) has been confirmed, enabling the Treasury Department to manage assets without increasing taxpayer liabilities.

Analysts at Bitunix view this development as a signal that a sovereign nation is actively participating in the digital asset race. With Bitcoin recently breaching the $84,000 mark, the focus now shifts to the critical $86,000 resistance level, while monitoring the stability of the $82,000 to $83,000 support range remains essential. Investors are urged to adopt a flexible approach and exercise careful risk management in these volatile market conditions.