Dogecoin Co-Founder Floats Epic Idea Of U.S. DOGE Strategic Reserve Amid Latest Price Boom ⋆ ZyCrypto
The post Dogecoin Co-Founder Floats Epic Idea Of U.S. DOGE Strategic Reserve Amid Latest Price Boom ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Now that Donald Trump is set to be the next president of the United States, a strategic Bitcoin reserve could become a reality soon. Interestingly, Dogecoin creator Billy Markus (also known as Shibetoshi Nakamoto on X) has suggested that the OG meme coin should follow Bitcoin’s lead and become a strategic national reserve asset. “Why not national Dogecoin reserve tho [sic],” Markus said in a Nov. 15 post. why not national dogecoin reserve tho https://t.co/jRh0b3rG7j — Shibetoshi Nakamoto (@BillyM2k) November 15, 2024 Shibetoshi was reacting to a post by Kalshi, a prediction market platform, regarding bettors seeing a soaring probability of President-elect Trump establishing a strategic Bitcoin reserve. Earlier this year, Trump declared that he would authorize the U.S. government to buy up Bitcoin as a reserve asset when he gets into office. The U.S. currently has assets like Treasuries and gold in its reserves. As Bitcoin closes in on the $100,000 level, being turned into a strategic reserve asset is not such a crazy idea. With a market capitalization of around $1.8 trillion, the preeminent crypto is currently the seventh-largest asset on the planet after surpassing silver and oil behemoth Saudi Aramco this month. Advertisement   If Bitcoin becomes a strategic reserve, it could spur significant institutional and governmental interest in the orange coin, potentially accelerating its growth and propelling its value to new heights. A Dogecoin Strategic Reserve? As for Dogecoin, the leading meme cryptocurrency boasts a market cap of $54.7 billion, and it’s the seventh-biggest on the crypto leaderboard after being flipped by on-fire Ripple’s XRP. DOGE started as a joke cryptocurrency in 2013, but the canine-themed cryptocurrency has since gained traction, thanks in large part to the world’s richest man, Elon Musk. Musk labeled himself the “Dogefather” ahead of his May 2021 SNL…
Filed under: News - @ November 17, 2024 9:03 am