Wang Yongli, former vice president of the Bank of China, mentioned in an article titled "Rational Perspective on Trump's New Bitcoin Policy" published in the first issue of 2025 (China Foreign Exchange) that Bitcoin highly imitates gold on the 'currency' level. Its total quantity and the phase-incremental amount are entirely set by the system, which is more stringent than gold (the actual reserves of gold are not clearly known). The amount that can be used for exchange transactions is even more limited, and it cannot grow in line with the increase in tradable wealth value, which does not meet the essential requirements of currency. In addition, Bitcoin is a purely blockchain-based digital asset, not a natural physical asset. Once trust is lost, it will become worthless, and the risk is far greater than that of gold.
Following Trump's victory in the U.S. presidential election, his proposed new Bitcoin policy has attracted widespread attention and debate. It is necessary to calm down and view and grasp this rationally and objectively, avoiding disruptive mistakes. The U.S. finds it difficult to ensure that new Bitcoins can be produced within the country and even more challenging to guarantee that they all belong to the U.S. government. The so-called national strategic reserves of Bitcoin, whether as a government (fiscal) strategic reserve or as a strategic reserve of the Federal Reserve (central bank) for the dollar, all carry risks and uncertainties.

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