Discussions continue about creating a strategic Bitcoin reserve in the USA. CryptoQuant co-founder and CEO Ki Young Ju offered a different view on the feasibility of this possibility. Citing the steps taken towards the US gold standard in the past as an example, Ju stated that Donald Trump’s attitude towards Bitcoin may change as the economy grows.
Strategic Bitcoin Reserve and Gold Standard Similarity
According to Ki Young Ju, calls for strategic reserves for Bitcoin are similar to the stance of those who advocated the gold standard in the 1990s. Gold advocates at the time advocated the use of gold for national reserves, similar to Bitcoin advocates today. However, Ju emphasized that although the gold standard is attractive, the United States has always found ways to avoid such a change. Nowadays, while the defense of the gold standard is long gone, reserve calls for Bitcoin have reached a different stage.
Creating a Bitcoin Reserve and Opposing Attitudes of Countries
Countries such as the USA, Bhutan and El Salvador continue their efforts to create strategic Bitcoin reserves. However, some countries, such as Japan, are not keen on this idea. Japan refused to consider Bitcoin as a national reserve, prioritizing maintaining its economic stability. Proponents of Bitcoin reserves argue that it could create a large capital network and help solve mounting debts.
Private companies also continue to purchase Bitcoin. Companies such as MicroStrategy, MARA Holdings, Metaplanet and RIOT Platforms have bought Bitcoin regularly in recent months. Metaplanet acquired 619.7 Bitcoins worth approximately 9.5 billion yen, bringing the total to 1,761.98 BTC. These developments make an important contribution to the ongoing debate for a strategic Bitcoin reserve.
