Recently, we noticed that after Bitcoin hit an all-time high, CCTV reported on it, and we observed that the report had changed; on the evening of November 7, CCTV-2 (CCTV Finance Channel) reported, 'Bitcoin price soared to an all-time high, reaching $75,000, with an increase of over 8%.'
Reports also state that Trump had previously promised to make the U.S. the world capital of Bitcoin and cryptocurrency and establish a strategic Bitcoin reserve.
The entire report does not contain any negative comments about Bitcoin and even mentions that Trump may use BTC as a national strategic reserve.
Trump stated at the 2024 Bitcoin Conference that Bitcoin's market value has been increasing since its inception and has become the eighth largest asset in the world by market capitalization.
Trump described cryptocurrencies as the 'steel industry of 100 years ago' and predicted that their future would surpass gold and be listed as a strategic reserve asset for the United States.
In his speech, he also stated that if he returns to the White House, he will ensure the government retains 100% of its Bitcoin holdings and develop a plan to make the U.S. the 'capital of cryptocurrency and a Bitcoin superpower.'
Now that Trump has been selected for the election, will he use Bitcoin as a strategic reserve for the U.S. after taking office? How will countries and enterprises respond?
In fact, we should not only see what others say, but more importantly, observe what others are doing.
Let's take a look at the Bitcoin held by various countries, whether actively or passively (forfeited).
United States: Holds 213,246 Bitcoins.
China: Holds 190,000 Bitcoins.
United Kingdom: Holds 61,000 Bitcoins.
Ukraine: Holds 46,351 Bitcoins.
El Salvador's Bitcoin holdings stand at 5,936.7 Bitcoins.
Bhutan: Holds 621 Bitcoins.
Venezuela: Holds 240 Bitcoins.
The above data is not the latest and is for reference only, sourced from the internet.
Countries have different attitudes, but enterprises generally share a similar attitude; let's look at companies around the world that regard BTC as a strategic reserve.
Companies can be more proactive.
Listed company Genius Group Limited (NYSE: GNS) announced that it has purchased 110 Bitcoins for $10 million, at an average price of $90,932 per Bitcoin, marking the official establishment of its Bitcoin reserve.
It is reported that this purchase follows the company's announcement of its 'Bitcoin First' strategy on November 12, which commits to holding 90% or more of its existing and future reserves in Bitcoin, with an initial target of $120 million in Bitcoin.
This purchase is the first transaction in the company's ongoing acquisitions to achieve its goals.
Determination is significant; over 90,000 without hesitation indicates a very optimistic view of future coin prices.
NASDAQ-listed medical company Cosmos Health has included BTC and ETH as reserve assets; the company stated that this new policy aligns with its forward-looking approach to investing in new technologies, including its recent acquisition of an AI-driven drug repurposing platform, Cloudscreen.
Cosmos Health expects that adding Bitcoin and Ethereum, along with potential other cryptocurrencies and blockchain-related assets, will help diversify its balance sheet and provide significant upside potential as these assets gain increasing adoption globally.
In addition to holding Bitcoin and Ethereum as reserve assets, the company is also dedicated to meeting the needs of customers wishing to pay with cryptocurrencies.
NANO LABS announced that it will use Bitcoin as its strategic reserve asset.
Cryptocurrency mining chip design company NANO LABS announced that it will use Bitcoin as its strategic reserve asset.
Statistics show that more than 60 listed companies have adopted a Bitcoin strategy, and thousands of private companies are also following suit.
From the industry distribution perspective, it mainly focuses on Bitcoin mining (including major mining companies like Marathon, Core Scientific, HUT8, etc.), cryptocurrency (Coinbase, Galaxy, Bitcoin Group, etc.), and technology sectors (MicroStrategy, Reddit, Meitu, etc.).
Traditional financial and industrial giants are also actively laying out their strategies, including the world's largest asset management company BlackRock, electric vehicle manufacturer Tesla, and real estate company Metaplanet, among others.
There are many more, ARK's Cathie Wood, ETFs, Microsoft is also close, and the U.S. is almost ready to go all in.
Recently, the economic newspaper in our village has also begun to pay attention to this issue.
The Economic Daily published an article titled 'Will Bitcoin Become a U.S. Reserve Asset?' The article states that although the incoming U.S. government shows great interest in cryptocurrencies, making Bitcoin a true national reserve asset still requires passing through multiple 'gates.'
From the policy perspective, listing Bitcoin as a strategic reserve asset requires a complex legislative process, involving coordination and interest balancing among multiple regulatory agencies, and given that traditional financial institutions, conservative lawmakers, and interest groups skeptical of digital assets may strongly oppose it, the implementation difficulty is not small.
The dramatic surge in Bitcoin prices seems to give some people hope of witnessing a process similar to 'from the collapse of the Bretton Woods system to the establishment of the petrodollar.'
However, Bitcoin's inherent attributes are unstable; once it becomes a strategic reserve asset, it may pose greater challenges for regulatory agencies and may alert other countries in the world, exacerbating friction in the international financial sector. Whether the U.S. economy, which has been eroded by high inflation for days, can withstand its shock remains uncertain.
You see, this somewhat resembles the process when Bitcoin ETF went from non-existence to existence, first a rumor, then action (buying some bottom positions), and finally applying for approval.
BlackRock submitted an application for a Bitcoin ETF to the SEC on June 15, 2022, and the SEC approved the application on January 10, 2024, officially listing it; from application to listing, the price increased five to six times.
You see, everything is ready, and the price has risen, costs have increased, so big capitalists are not fools; whether it can become a national strategic reserve is not something you or I can influence, but I can hold some first and wait for rumors to become reality.
GrayScale did the same back then, continuously buying until the ETF was approved, and of course, prices multiplied several times.
The intelligence of big capital lies in not going where everyone else is, always planning ahead, and advancing towards areas with more money and more future people.
Together with the people of Mexico, preaching web3, I am Xi Mo, a guide dedicated to bringing you into the web3 industry, making the main business a side business, turning side businesses into unemployment (wealth freedom), and increasing asset value after wealth freedom is my unwavering and all-out pursuit.
A year ago, we created a web3 private wealth reading material for paying students, named 'Xi Mo's Crypto Perspectives,' which contains over 1,000 pages documenting a collection of 320,000 words on crypto wealth; now I am giving it to you for free.
Click my profile picture to receive a free electronic version of Xi Mo's Crypto Wealth Perspectives.
