According to Cointelegraph, asset manager Anthony Pompliano said that the global Bitcoin competition has begun among sovereign states and governments.
Pompliano said on Yahoo Finance that market participants believe Trump will fulfill his campaign promise to establish a strategic reserve of Bitcoin to prevent being preempted by other countries. He stressed that governments at all levels should include Bitcoin in their balance sheets as much as possible.
Pompliano noted that currency devaluation is driving Bitcoin adoption, with U.S. residents’ purchasing power falling by about 25% over the past five years.
He mentioned that Bhutan and El Salvador are accumulating Bitcoin because of their small size and lower risk. Although the United States faces greater risks as the global economic hegemon, the downside risk of investing in Bitcoin is still relatively low.
Florida Chief Financial Officer Jimmy Patronis is pushing the state pension fund to invest in Bitcoin. In November 2024, Pennsylvania lawmakers proposed the Bitcoin Strategic Reserve Act, which, if passed, would allow the state treasury to invest 10% of its assets in Bitcoin.
