United States Unlikely to Add Bitcoin as Strategic Reserve in Near Term, Says BlockTower Capital CIO
The idea of the United States government holding a Bitcoin strategic reserve has sparked speculation and excitement in the cryptocurrency community. According to Ari Paul, chief information officer at BlockTower Capital, while the concept may be “bullish” for Bitcoin’s price, it is unlikely to become a reality in the near future.
Paul expressed skepticism, stating that he would bet against the US adding Bitcoin as a strategic reserve in the next four years. However, he acknowledged that the mere mention of such a move by President Trump could have a positive impact on Bitcoin’s price in the medium term.
The notion of a strategic reserve, typically reserved for emergency resources, has gained attention on social media, with speculation that Trump may announce plans to designate Bitcoin as a strategic reserve if he wins this year’s election. This rumor is expected to be addressed during the Bitcoin 2024 conference in Nashville.
Despite the skepticism surrounding the feasibility of a US Bitcoin strategic reserve, some industry figures, such as Dennis Porter and Michael Goldstein, advocate for individuals, businesses, and even countries to hold a Bitcoin strategic reserve.
The discussion around a potential Bitcoin strategic reserve comes at a time when prominent figures like Mark Cuban are considering the role of Bitcoin as a global reserve asset in the face of geopolitical instability and inflationary pressures.
While the idea of a US Bitcoin strategic reserve may be met with skepticism, it has certainly sparked conversation and speculation within the cryptocurrency community. Only time will tell if such a concept will ever come to fruition.
