US Bitcoin reserve idea could spark global race, Metaplanet CEO predicts
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Metaplanet CEO Simon Georvich predicts a worldwide rush for Bitcoin accumulation if the United States adopts a Bitcoin Strategic Reserve. In a Jan. 2 post on X, Gerovich stressed the potential chain reaction a US move to embrace Bitcoin could ignite. He suggested that adopting would trigger competitive behavior among countries where early movers benefit most while latecomers face higher costs. He stated: “The US adopting a Bitcoin Strategic Reserve could trigger a global domino effect. As game theory kicks in, nation-states will race to accumulate Bitcoin, knowing the last to act will pay the highest price.” In a video shared by Bitcoin Magazine, Gerovich further stressed that if the incoming Donald Trump administration fulfills its commitments to position Bitcoin as a strategic reserve, this action could set a global precedent, influencing countries like Japan to follow suit. He pointed to Japan’s historical alignment with US policies and predicted similar trends across Asia and other regions. Georvich also discussed the potential impact on developing nations. He suggested that adopting Bitcoin might stabilize these countries’ currencies and strengthen their economies. Skepticism persists Gerovich’s optimism is widely shared by other crypto enthusiasts, who believe such a move could benefit the top crypto. However, skepticism remains in the industry. Ki Young Ju, CEO of CryptoQuant, questioned the practicality of such a move. He noted that a shift to Bitcoin would likely only occur if the US faced a major economic challenge threatening its global dominance. Ju compared this proposal to past calls for a return to the gold standard, which were dismissed in favor of financial innovation. He argued that Bitcoin, like gold, may encounter resistance due to the risks of relying on a single asset. Ju added: “The notion of buying Bitcoin to prepare for a Bitcoin Standard or as a tool…
Filed under: News - @ January 2, 2025 10:19 am