Economic Daily Publishes Article: Will Bitcoin Become a U.S. Reserve Asset?

The Economic Daily published an article titled 'Will Bitcoin Become a U.S. Reserve Asset?'
The article's author, Lian Jun, states that although the incoming U.S. government shows strong interest in cryptocurrencies, several 'hurdles' still need to be overcome for Bitcoin to truly become a national reserve asset. From a policy perspective, designating Bitcoin as a strategic reserve asset requires a complex legislative process, involving coordination among multiple regulatory agencies and balancing interests. Additionally, traditional financial institutions in the U.S., conservative lawmakers, and interest groups skeptical of digital assets may strongly oppose it, making implementation quite challenging.
The article suggests that the explosive rise in Bitcoin prices seems to have given some people hope of witnessing a process similar to the transition from the Bretton Woods system's collapse to the establishment of the petrodollar. However, Bitcoin's inherent properties are unstable, and once it becomes a strategic reserve asset, it may pose greater challenges for regulators and could provoke caution in other countries, exacerbating friction in the international financial realm. It remains uncertain whether the U.S. economy, which has been eroded by high inflation for days, can withstand the impact.