Ki Young Ju, the head of CryptoQuant, raised concerns about the true intentions behind the U.S. government's potential adoption of the Bitcoin standard. Although he personally supports the idea of using Bitcoin as a strategic asset, he remains skeptical about whether the U.S. would fully embrace it without significant external pressure threatening its economic dominance.
What does the Bitcoin standard mean for the United States?
The idea of a Bitcoin standard suggests that the U.S. may view Bitcoin as a reserve asset. Ju argues that if this happens, government priorities may differ significantly from those of Bitcoin supporters. He emphasizes that the U.S. may not adopt Bitcoin in the way that many enthusiasts in the cryptocurrency space envision.
Why is the U.S. buying Bitcoin?
Ju speculates that the U.S. government may consider buying Bitcoin as part of risk management or to exert economic influence. However, he doubts that this would stem from a genuine intent to protect the monetary system as Bitcoin supporters envision. The influx of global capital into the U.S. continues to reinforce confidence in the enduring strength of the dollar.
Ju supports the Bitcoin standard but is skeptical about the U.S.'s recognition of it.
The government's approach may conflict with the views of Bitcoin supporters.
Trump's ability to strengthen the dollar could affect his stance on Bitcoin.
The U.S. may buy Bitcoin to create leverage rather than to ensure safety.
The CEO of CryptoQuant believes that if Donald Trump succeeds in strengthening the position of the U.S. dollar, this could lead to a reduction in the support he previously claimed for Bitcoin. As the dollar gains stability and popularity, the former president's enthusiasm for Bitcoin may gradually diminish.
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