Satoshi

United

Bitcoin

Asset manager Bryan Courchesne recently appeared on CNBC to discuss Bitcoin’s potential to become a strategic reserve asset of the United States government under a future Trump administration.
<a href="https://x.com/BTC_Archive/status/1815445795438473358" target="_blank" rel="noopener nofollow">According</a> to the asset manager, adopting Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) as a reserve asset would be difficult but not impossible. Courchesne pointed to the Department of Justice’s vast holdings of 200,000 BTC, making the US government the largest holder of Bitcoin behind its pseudonymous creator, Satoshi Nakamoto.
Courchesne explained that the Department of Justice could simply transfer the Bitcoin to the United States Department of the Treasury, paving the way for the Treasury to begin accumulating and holding the scarce asset long-term.
<h2 id="bitcoin-s-potential-to-become-a-global-reserve-asset">Bitcoin’s potential to become a global reserve asset</h2>
Speculation that Bitcoin may become a global reserve asset or a strategic US Treasury asset surged following former&nbsp;<a href="https://cointelegraph.com/news/donald-trump-united-states-presidential-campaign-cryptocurrency-support-chamath-palihapitiya">President Donald Trump’s announcement of support</a> for the digital asset industry amid mounting worldwide debt and monetary inflation.
Trump’s pick of JD Vance, a 39-year-old Bitcoin holder, as his running mate also fueled speculation that a future Trump administration could mean&nbsp;<a href="https://cointelegraph.com/news/trump-vp-pick-jd-vance-could-mean-new-era-for-crypto"></a><a href="https://cointelegraph.com/news/trump-vp-pick-jd-vance-could-mean-new-era-for-crypto">a new era for crypto</a>, in which Bitcoin becomes fully integrated into the current financial system.
Related:&nbsp;<a href="https://cointelegraph.com/news/german-mp-urge-government-stop-selling-bitcoin">German MP urges government to stop ‘hasty’ Bitcoin sell-off</a>
Billionaire investor Mark Cuban has also imagined a scenario in which widespread inflation and geopolitical instability drive the global population to Bitcoin as a haven to protect their life savings and purchasing power, elevating Bitcoin to the status of a&nbsp;<a href="https://cointelegraph.com/news/mark-cuban-speculates-bitcoin-global-reserve-asset">global reserve currency</a> organically. Data from high-inflation countries like Argentina, Venezuela and Turkey indicates this is already happening, as populations&nbsp;<a href="https://cointelegraph.com/news/argentina-lead-crypto-adoption-americas">shift to cryptocurrencies</a> as a hedge against inflation.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/685b064d-46f7-4940-807c-6df6652c55ca.png" alt="Asset manager says Trump admin may make Bitcoin strategic reserve asset" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/mcuban/status/1813595448151531784" target="_blank" rel="noopener nofollow">Mark Cuban</a>
 </figcaption>
</figure>
However, Ari Paul, founder of BlockTower Capital, disagrees. Paul believes that the odds are&nbsp;<a href="https://cointelegraph.com/news/bitcoin-strategic-reserve-united-states-bullish-price">10:1 against Bitcoin</a> becoming a strategic reserve asset of the United States in the next four years. The entrepreneur explained that the US strategic reserve, a collection of assets held for use in case of national emergencies, may not be officially established even if a future president announces that the US would not sell its Bitcoin holdings.
Magazine:<a href="https://cointelegraph.com/magazine/crypto-wendy-on-trashing-the-sec-sexism-and-how-underdogs-can-win-hall-of-flame/"> Crypto Wendy on trashing the SEC, sexism, and how underdogs can win: Hall of Flame</a>

Asset manager says Trump admin may make Bitcoin strategic reserve asset

Innholdsfortegnelse

Cointelegraph

Andre artikler publisert på 22. juli 2024

Devilfish NFT Revolutionizes Poker With Innovative NFT Integration

Stocks to Watch Today: Nvidia, Tesla, and CrowdStrike

JP Morgan Believes Bitcoin is Overpriced, Sees Imminent Crash

7 U.S. States Challenge SEC’s Crypto Regulations in Iowa-Led Amicus Brief

Cardano breaks $0.4 resistance: Is a bullish breakout likely?

Here's Why 'Explosive' XRP Price Move Might Be on Horizon

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!