Deutsche Bank Macro Strategist: Trump’s Bitcoin Reserve Is ‘Nothing New’

CN
5 days ago

The policy pivot towards the cryptocurrency industry and the recent enactment of a strategic bitcoin reserve and a crypto stockpile in the U.S. are still generating buzz from the financial community.

Marion Laboure, managing director and macro strategist at Deutsche Bank, recently gave his take on this move pushed by President Trump’s newfound appreciation for crypto and bitcoin. In a recent interview, Laboure disregarded the relevance of establishing a strategic bitcoin reserve and a crypto stockpile, stating that she saw it as a continuation of many of the moves the wider digital assets industry achieved in 2024.

She stated:

I would see it more like as a reclassification, nothing really new given that uh there were already like a lot of talks going on mid 2024.

Furthermore, Laboure stated that there were still many unknowns regarding the operation of such a reserve, which may also have influenced the cold welcome that the market has given these developments. “We don’t know which crypto are going to be selected we don’t know anything about the quotas, we don’t know uh much about uh the asset mix, we don’t know much about the timeline,” she assessed.

Laboure’s thoughts echo the sentiment of some analysts who expected the U.S. to start purchasing bitcoin immediately, taking Strategy’s Michael Saylor’s advice of revaluing gold and selling it to purchase a sizable amount of bitcoin. Nevertheless, the order called for the establishment of budget-neutral strategies to grow this reserve instead, avoiding imposing incremental costs on taxpayers and opening the door for further expansion.

Read more: Michael Saylor Outlines US’s Ultimate Bitcoin Reserve Strategy: Dump Gold, Buy Bitcoin

Read more: Trump Establishes Bitcoin Reserve, But Industry Participants Await Clear Action

Finally, Laboure stated that crypto as an asset class was still highly volatile and that besides bitcoin and ether, many of the cryptocurrencies available today were destined to crash.

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