The post First glance at what an American strategic Bitcoin reserve could look like  appeared on BitcoinEthereumNews.com.

The strategic Bitcoin reserve draft document in question has been making the rounds on X (formerly Twitter) with widespread approval from crypto netizens.  The draft was reportedly presented by @btcpolicyorg as an executive order focusing on making Bitcoin a strategic reserve asset within the Exchange Stabilization Fund (ESF). The two-page document addressed certain key points the institute recognized as important to cover in what many consider a preliminary draft.  Recommendations to gain a competitive advantage with Bitcoin The executive order describes Bitcoin as a strategic reserve asset that can bolster the US dollar’s resilience. It also demands the establishment of a Strategic Bitcoin Reserve (SBR) to serve as a permanent national asset for economic security. According to the draft, the US policy should include: Creating the Bitcoin reserve to grow the economy and maintain the US’s financial dominance in world markets.  Making Bitcoin a strategic asset stored by the government to diversify national reserves and boost economic security. Striving to make the US the number one country for digital assets in terms of attracting investment, talent, and innovation. The draft highlights the need for the United States to adapt to global trends in digital finance as this is the only way to maintain economic stability and leadership. It also tags Bitcoin as a decentralized and finite store-of-value asset, with comparisons to digital gold — a sentiment many crypto stakeholders seem to agree with. MicroStrategy’s Michael Saylor has even gone as far as suggesting the US sell all its gold to buy BTC.  It may sound over the top, but Micahel Saylor has overtly supported Bitcoin, and his BTC gamble has paid off exponentially.  Establishment of the SBR and Bitcoin designation According to the draft, the SBR will be handled by the Treasury Department, which will have strict oversight, including audits…

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Filed under: News - @ December 17, 2024 11:24 pm