BlockBeats reported that on December 18, Dan Morehead, the founder and managing partner of the hedge fund and venture capital firm Pantera Capital, recently discussed the evolution of cryptocurrency adoption in the US and potential changes in the coming year on CNBC (Fast Money). In the interview, Morehead talked about President Trump's proposal to establish a strategic Bitcoin reserve, expressing strong support for the initiative. He said: "I think this is actually a very important thing. When you are the world reserve currency, you don’t need to hold other currencies."
Morehead elaborated on the current state of the US reserves, pointing out: "The US has no other currency. It stores $600 billion in gold, which is an astonishing amount. That's 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: "Transition to digital gold. Bitcoin is much better, so I think this makes complete sense." Emphasizing the government's existing holdings, Morehead mentioned: "The US already holds 1% of the world's Bitcoin. Maintain that proportion and increase it. So I think this is indeed a very good policy. Several countries already hold Bitcoin. If the US can lead, that would be great." (News.Bitcoin)
