According to Decrypt, Dogecoin founder Billy Markus proposed the idea of establishing a national Dogecoin reserve on Twitter. This suggestion was in response to a post by prediction market Kalshi about Trump's possible creation of a strategic Bitcoin reserve.
Trump once said that if he came to power, he would let the US government buy Bitcoin as a reserve asset. Currently, the US reserves already have assets such as land, treasury bonds and gold. As the influence of Bitcoin increases, this idea does not seem absurd.
Bitcoin is the seventh-largest asset in the world with a market cap of $1.8 trillion. Dogecoin is the sixth-largest cryptocurrency with a market cap of $55 billion. Although it started as a joke, it gained traction in 2020-2021 with the support of Elon Musk.
Analysts believe that Dogecoin may soon be open to traditional investors through an ETF and could break all-time price records in 2021. However, until the Bitcoin Strategic Reserve becomes a reality, the idea of a Dogecoin reserve may remain just an interesting idea.
