According to ChainCatcher, Dan Morehead, founder and CEO of hedge fund and venture capital firm Pantera Capital, recently discussed the evolution of cryptocurrency adoption in the U.S. and potential changes in the coming year on CNBC's (Fast Money) program. In the interview, Morehead talked about President Trump's proposal to establish a strategic Bitcoin reserve and expressed strong support for this initiative. He said: "I think this is actually a very important thing. When you are the world's reserve currency, you don't need to store other currencies."
Morehead elaborated on the current state of U.S. reserves, stating: "The U.S. has no other currency. It stores $600 billion in gold, which is an astonishing amount. This is equivalent to 11 million years of wages for American workers, so that's a bit crazy."
He advocated for a transition to digital assets, stating: "Moving towards digital gold. Bitcoin is much better, so I think this makes complete sense." Emphasizing the existing holdings of the government, Morehead mentioned: "The U.S. already holds 1% of the world's Bitcoin. Maintain that ratio, increase that ratio. So I think this is indeed a very good policy. Several countries already hold Bitcoin. It would be great if the U.S. could take the lead."
