According to Odaily, Dan Morehead, founder and executive partner of Pantera Capital, recently shared insights on the evolving landscape of cryptocurrency adoption in the United States during an appearance on CNBC's 'Fast Money.' Morehead expressed strong support for President-elect Trump's proposal to establish a strategic Bitcoin reserve, highlighting its significance. He stated, "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, noting, "The U.S. doesn't hold other currencies. It stores $600 billion worth of gold, which is an astonishing amount. This equates to 11 million years of wages for American workers, so it's somewhat crazy." He advocated for a shift towards digital assets, asserting, "Transition to digital gold. Bitcoin is much better, so I think it's entirely reasonable."
Emphasizing the government's existing holdings, Morehead mentioned, "The U.S. already owns 1% of the world's Bitcoin. Maintaining and increasing this proportion is a very good policy. Several countries already own Bitcoin. If the U.S. can lead, that would be great."