Economic Daily Article: Will Bitcoin Become a Reserve Asset for the United States?

Golden Finance reports that the Economic Daily published an article titled "Will Bitcoin Become a Reserve Asset for the United States?" The article states that although the incoming U.S. government shows strong interest in cryptocurrencies, there are multiple "hurdles" to overcome for Bitcoin to truly become a national reserve asset. From a policy perspective, classifying 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 legislators, and interest groups skeptical of digital assets may strongly oppose this, making implementation quite challenging. The soaring price of Bitcoin seems to give 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 volatility poses risks, and once it becomes a strategic reserve asset, it could present greater challenges for regulators and may also raise concerns among other countries, escalating 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 such shocks.