⚠️#DonaldTrump Bitcoin as a strategic reserve asset for the US?
This will not be the first and certainly not the last time that Donald Trump will express his support for Bitcoin. This time, he shared his preference for Bitcoin in a Forbes report. And of course, this has once again generated discussions about the possibility of classifying cryptocurrencies as strategic reserve assets for the United States.
In a social media post, Trump acknowledged the geopolitical importance of Bitcoin. He also warned against policies that would hinder its growth, as this would mainly favor China and Russia. Will the “Bitcoin as a reserve asset” narrative be true in 2024?
Political leaders support Bitcoin
This makes Donald Trump the first major political party candidate to endorse Bitcoin, drawing attention to BTC as a strategic reserve asset. Since January, former presidential candidate Vivek Ramaswamy has been advising Trump on Bitcoin and digital assets.
Ramaswamy suggested backing the US dollar with a basket of commodities, including BTC, to combat inflation and maintain the value of the currency over time.
Read more: What is Bitcoin? A complete guide to #Giukianox
Additionally, Senator Cynthia Lummis, known as the “crypto queen” of Congress, suggested that the Federal Reserve diversify its foreign exchange reserves by adding $BTC to its balance sheet. Lummis sees Bitcoin as an excellent store of value and highlights the benefits of diversification for the country.
The discussion of #Bitcoin as a strategic reserve asset raises questions. The main one is how the United States could use this digital asset to strengthen its fiscal health and geopolitical position.
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