As a digital currency, Bitcoin has undergone a transformation from a niche investment to a mainstream global asset over the past decade. With increasing acceptance of cryptocurrencies by various countries, especially the attention from major economic powers, more and more people are beginning to believe that Bitcoin is not just a speculative tool but may also become a national-level strategic reserve asset. Dennis Porter, co-founder of the Satoshi Act Fund, recently made a prediction on X (formerly Twitter), stating that by the end of 2025, a G7 member country and a BRICS member country will establish 'Bitcoin strategic reserves.' Furthermore, he pointed out that by 2026, the remaining member countries will follow suit like dominoes. Is this prediction likely to become a reality?
Strategic Reserves of G7 and BRICS Countries: Potential Transformation of the Financial Landscape
The global economy is undergoing profound changes, particularly in the field of digital currencies. The G7 countries, as the main global economies, have long held a dominant position in the international financial system, while the BRICS nations (Brazil, Russia, India, China, South Africa) represent the rise of emerging markets. In this context, Dennis Porter's predictions are particularly significant. Although he has not explicitly indicated which G7 or BRICS country will take this step first, the trends in the global economy suggest that this possibility exists.
Bitcoin, as a decentralized digital asset, has long transcended the role of a simple currency trading tool and is gradually being viewed as a reserve asset with anti-inflation capabilities, similar to gold. In the context of gradually easing global monetary policies, many countries are seeking non-traditional assets as reserves, especially as the status of the US dollar is increasingly challenged today. As a globally liquid asset, more and more countries are beginning to consider incorporating Bitcoin into their national reserves.
The Global Significance of Bitcoin as a Strategic Reserve
If Bitcoin becomes a part of the global economy, it will not only serve as an investment tool but also as a new weapon in international political and economic games. National-level Bitcoin reserves can effectively hedge against inflation risks and provide countries with new discourse power in the global financial system. Taking El Salvador as an example, as the first country in the world to legalize Bitcoin, the Salvadoran government is not only promoting the adoption of Bitcoin domestically but also hopes to attract more foreign investment through this initiative, enhancing the country’s international standing.
In the long run, Bitcoin strategic reserves will help promote the decentralization of the global financial system. In the traditional financial system, the status of sovereign currencies such as the US dollar and euro has always dominated. However, Bitcoin, as a decentralized currency, does not rely on any country's central bank for regulation. This independence makes Bitcoin an ideal choice for many countries, especially emerging market countries. If more and more countries begin to establish Bitcoin strategic reserves, it will form a diversified international monetary system, reducing reliance on a single currency system.
Collaboration Between El Salvador and Argentina in the Crypto Industry: Strengthening Bitcoin's Influence
In the internationalization process of cryptocurrencies, El Salvador is undoubtedly a notable country. El Salvador is the first country to adopt Bitcoin as legal tender, while Argentina is another major economy in Latin America. In recent years, due to economic crises and high inflation rates, cryptocurrencies have become a choice for its citizens seeking asset preservation. Recently, El Salvador and Argentina signed a cooperation agreement aimed at jointly promoting the development of the cryptocurrency industry in both countries. According to Juan Carlos Reyes, chairman of El Salvador's top cryptocurrency regulatory body, the National Digital Activities Commission (CNAD), this agreement will facilitate knowledge and experience sharing between the regulatory bodies of the two countries.
Although the details of the agreement have not been fully disclosed, it is undoubtedly a significant boon for the cryptocurrency industry. Through this agreement, El Salvador and Argentina can not only jointly develop and improve regulations related to cryptocurrencies but also attract more international investors and crypto projects through strategic partnerships, promoting the spread of cryptocurrencies in the Latin American region.
For Bitcoin, the cooperation between El Salvador and Argentina will further enhance its influence in the Latin American region and provide a reference for other Latin American countries. For example, the governments of Brazil and Mexico have already indicated that they are paying attention to El Salvador's experiences with cryptocurrencies and may adopt similar policies in the future.
South Korean National Assembly Postpones Crypto Tax: Easing Policies Promote Market Stability
On the other hand, as a key player in the global cryptocurrency market, the South Korean government recently introduced policies favorable to the development of the cryptocurrency industry. The income tax law amendment passed by the South Korean National Assembly mentions postponing the taxation of virtual assets from January 1, 2025, to January 1, 2027. This decision is a significant boon for both the South Korean and global cryptocurrency markets.
The South Korean government's move undoubtedly provides more stability to the market. South Korea has long been one of the important markets for cryptocurrency trading globally, and this decision to delay tax collection shows the government's supportive attitude toward the cryptocurrency market. By postponing the implementation of the crypto tax, the South Korean government provides more time for innovation in the cryptocurrency market and creates a more favorable environment for the development of domestic crypto projects.
Microsoft Shareholders Oppose Bitcoin Investment: Traditional Institutions' Caution
However, not all traditional institutions are showing a positive attitude towards Bitcoin. Microsoft recently faced a proposal to invest 1% of the company's total assets in Bitcoin to hedge against inflation risks. However, the major shareholders of Microsoft voted against this proposal, indicating that traditional institutions remain cautious about investing in Bitcoin. Most of Microsoft's shareholders are institutional investors, including well-known investment firms such as BlackRock and Vanguard, which clearly maintain a high level of vigilance regarding the volatility and risks of cryptocurrencies.
This opposing voice also highlights the challenges Bitcoin still faces. Although Bitcoin is viewed as a safe-haven asset by some investors, its high volatility makes many traditional institutions hesitant to incorporate it into their asset allocation. Therefore, for Bitcoin to become a mainstream asset, it still needs to undergo a long-term market test, especially regarding regulation and market transparency.
The US spot Ethereum ETF saw a net inflow of 82,300 ETH yesterday, valued at $306 million.
The US spot Bitcoin ETF saw a net inflow of 4,509 BTC yesterday, valued at $439 million.
BTC: Yesterday, Bitcoin closed with a 'spinning top,' indicating that both bulls and bears are temporarily in a state of equilibrium, with no clear direction. Combined with the MACD indicator, the current DIF line is above the DEA line, showing slight signs of narrowing, suggesting that downward momentum may weaken.
Overall, in the hourly level, bottom divergence signals are evident, and institutional funds are flowing in, which may provide momentum for a short-term rebound. However, considering that the overall trend this month has been slightly downward, this rebound is unlikely to break through resistance levels of 98,500 or 101,000, and is more likely to be a technical correction. If the rebound cannot stabilize above 98,500, upward momentum may weaken again, and the adjustment may continue until the end of December before stabilizing.
ETH: Yesterday, Ethereum closed with a 'spinning top,' currently at the 20-day moving average position, with a bottom divergence pattern appearing on the hourly level, potentially leading to a short-term rebound. The future trend of Ethereum is difficult to predict. If it opts for a strong consolidation, it could create new lows next week, then consolidate upwards to create new highs; if it opts for a weak overall trend, it will oscillate repeatedly with Bitcoin and may finish consolidating by the end of the month and then create new highs. Overall, the upcoming trend of Ethereum should resemble a roller coaster. Up and down, the process is very tortuous and can be quite exhausting, but I still maintain a positive outlook on Ethereum's long-term rebound.
Altcoins: Recently, the altcoin market seems to have undergone a 'major washout,' with many altcoins experiencing significant pullbacks, which is shocking. However, upon closer analysis, the overall funding situation in the market has not changed drastically, and in the long run, the trend of the larger cycle remains strong. This pullback can be seen as a small fluctuation in the market and will not affect the long-term trend. As the market gradually recovers, capital inflows will reignite market enthusiasm.
Today's Fear & Greed Index: 74 (Greed)#BTC投资案未获微软股东同意