According to BlockBeats, on December 11, reported by Bitcoinist, Alabama State Auditor Andrew Sorrell publicly proposed the establishment of a Strategic Bitcoin Reserve (SBR). This proposal is based on the growing interest of federal and state policymakers in the SBR, as well as the backdrop of significant increases in Bitcoin prices following Trump's election as president (he campaigned on a pro-Bitcoin platform).
In a media interview, Sorrell emphasized what he believes to be the inevitability of long-term success for Bitcoin and cryptocurrencies: 'The debate over whether cryptocurrencies will succeed is over. Currently, cryptocurrencies represent a $3 trillion asset class, while state investments in cryptocurrencies are zero. It is also the fastest-growing asset class with the greatest potential for price appreciation.'
Furthermore, he stated that the establishment of the SBR has three main objectives: portfolio diversification, cryptocurrency-friendly positioning, and safeguarding against currency-related risks. 'What happens if the inflation rate reaches 8% again? The value of Bitcoin is not affected by the movements of the dollar; it will strengthen our country's balance sheet and can be used as collateral for future debt issuance.'
