BlockBeats reported on December 11 that Alabama Comptroller Andrew Sorrell proposed the establishment of a Strategic Bitcoin Reserve (SBR) due to increasing interest from federal and state policymakers. This proposal comes amid a surge in Bitcoin prices following Donald Trump’s election, who advocated for Bitcoin policies.
Sorrell believes that the debate over cryptocurrency’s success is settled, as they have become a $3 trillion asset class with high potential for price appreciation. SBR aims to achieve three goals: portfolio diversification, a cryptocurrency-friendly stance, and protection against currency-related risks.
Sorrell states that Bitcoin’s value is not affected by the U.S. dollar, which would strengthen the nation’s balance sheet and serve as collateral for future debt issuances.
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