Why Donald Trump Needs To Create A Strategic US Bitcoin Reserve
The post Why Donald Trump Needs To Create A Strategic US Bitcoin Reserve appeared on BitcoinEthereumNews.com.
Donald Trump’s recent election victory has reignited discussions around his campaign promise to establish a strategic US Bitcoin reserve. Although the proposal remains unimplemented, it has sparked curiosity about whether this will actually happen, what such a BTC reserve could entail, and how it might function if brought to fruition. The conversation, inspired by Donald Trump’s campaign promises to base Bitcoin as a centerpiece in US economic policy, outlined the current relevance of Bitcoin on the world stage and how it might compare to traditional assets such as gold. Anthony Pompliano, founder & CEO of Professional Capital Management and ardent supporter of Bitcoin, presented his thoughts about the United States and its potential as an adopter of Bitcoin to be held as a strategic BTC reserve. Will Donald Trump Create The US Bitcoin Reserve? Pompliano Weighs In Anthony Pompliano, founder & CEO of Professional Capital Management emphasized the strategic necessity of creating US Bitcoin Reserve, given how different countries, such as El Salvador and Bhutan, have already welcomed Bitcoin into their national reserves. Pompliano signaled the need for urgency within the US to take action, stating that although Bhutan is currently not a major global economy, the country’s proactive approach toward Bitcoin can easily make it a significant player in the future. Bhutan’s BTC holdings just recently increased to over $1 billion. The market expert also said the same goes for El Salvador, as it could become a global economy thanks to its Bitcoin exposure. Speaking further on the need to create the Bitcoin reserve, Pompliano said, “This asset (Bitcoin) is so asymmetric. If it continues to compound, it will translate into billions of dollars on their balance sheets while the US struggles with a growing national debt.” During one of his pre-election speeches at the Bitcoin conference in July,…
Filed under: News - @ November 16, 2024 8:12 pm