Ryan Adams

He used to be in Patrick Witt's situation.

He used to be the crypto council executive director.

He's now at Tether.

Patrick Witt is the guy who replaced him.

I think what they're going to do here is, I don't think they're going to announce a program for purchasing Bitcoin.

What I think they're going to do is actually announce the execution and implementation of Trump's executive order, his strategic Bitcoin reserve executive order that really hasn't been implemented.

And I think what they're going to do is go down the process of creating a Fort Knox for crypto.

I think that's the part of it.

So if you recall, there was an executive order of March of last year that called for a few things.

One, centralized cold storage of all of the Bitcoin that the US government had.

You recall, all the Bitcoin, all the crypto assets seized.

Were scattered across the DOJ, you know, cold wallets and desk drawers.

So you need something centralized, some cold storage, some Fort Knox type of infrastructure in order to do this.

I think also an audit framework will be part of this.

I think they'll formalize that we're not selling Bitcoin.

The teeth behind this

And I think they will do this.

They will give Bitcoin, maybe some other crypto assets, a reserve asset designation.

So that puts it in kind of the class on the Fed balance sheet alongside gold, alongside other fiat currencies that they might hold and SDRs.

So I think that's what they're really going to do.