CoinVoice recently learned that Dan Morehead, founder and CEO of the hedge fund and venture capital firm Pantera Capital, discussed the evolution of cryptocurrency adoption in the U.S. and potential changes in the coming year on CNBC’s (Fast Money) program. In the interview, Morehead talked about President Trump's proposal to establish a strategic Bitcoin reserve and expressed strong support for this initiative. He said: “I think this is actually a very important thing. When you are the world reserve currency, there’s no need to hold other currencies.”
Morehead elaborated on the current state of U.S. reserves, noting: “The U.S. has no other currency. It holds $600 billion in gold, which is an astounding amount. That equates to 11 million years of American workers' wages, so that’s a bit crazy.”
He advocates for a transition to digital assets, stating: “Transition to digital gold. Bitcoin is much better, so I think this is completely reasonable.” In emphasizing the government's current holdings, Morehead mentioned: “The U.S. already owns 1% of the world's Bitcoin. Maintain that ratio and increase that ratio. So I think this is indeed a very good policy. Several countries already own Bitcoin. It would be great if the U.S. could take the lead.” [Original link]
