Macroeconomic expert Luke Gromen believes that the United States has no choice but to seriously consider elevating Bitcoin (BTC) to a neutral reserve asset.
In a recent interview with Robert Breedlove, a prominent figure in the Bitcoin community, Gromen pointed out that the United States is facing a national security crisis after Russia defeated U.S. and NATO forces in Ukraine. According to him, this defeat has changed the landscape, forcing the Department of Defense and national security agencies to abandon the fiat currency system. The current U.S. dollar system, according to Gromen, has contributed to America shutting down factories and diminishing its defense manufacturing capabilities.
Luke Gromen
However, Gromen stated that U.S. intelligence and defense agencies currently see an opportunity to revive the defense industry by devaluing the dollar and using Bitcoin as a tool to support the Treasury market.
"Game theory has changed: for national political stability, for the reconstruction of the middle class and labor to strengthen defense. All of these factors point to a neutral reserve asset... Bitcoin is no longer a laughing matter as it was a year ago, but I believe it should not be underestimated."
He pointed out that the U.S. Treasury is researching ways to use stablecoins to support the Treasury's balance sheet in order to fund the deficit, while prominent political figures like Paul Ryan and Donald Trump have acknowledged the potential of Bitcoin. Gromen remarked that these statements indicate that the U.S. may be preparing to significantly increase the market capitalization of Bitcoin, similarly to the rise in oil prices in 1973 when oil prices surged 400%.
"The sharp rise in oil prices has made oil an important enough factor to support the dollar and finance the U.S. deficit," Gromen explained.
According to him, elevating Bitcoin to a neutral reserve asset would allow the United States to fund the reconstruction of the defense industry without harming the livelihoods of the people.
"The report from the Treasury Advisory Committee indicates the relationship between the market capitalization of cryptocurrencies, stablecoins, and the amount of T-bills that stablecoins have purchased. This is how they are approaching and considering this issue."
Gromen concluded that when considering the political stability and defense factors necessary, game theory will change completely. He emphasized that Bitcoin is not a threat, but an important tool that helps balance the balance sheet and protect people from the negative impacts of inflation.
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