This morning, the Bitcoin Coverage Institute (BPI) launched a 53-page report on the professionals of the USA establishing a strategic bitcoin reserve (SBR).
In July, @CynthiaMLummis introduced the BITCOIN Act, the primary invoice in US Congress to suggest a strategic #bitcoin reserve.
In our most complete report back to date, we recommend the USA adopting a strategic reserve. Learn the report right here: https://t.co/xQJG2Ebksi pic.twitter.com/gq3yI7oJUO
— Bitcoin Coverage Institute (@btcpolicyorg) November 4, 2024
The authors of the report touched on 4 key advantages of holding bitcoin as a strategic reserve asset:
- Financial and financial stability — bitcoin is a hedge in opposition to foreign money debasement and debt instability
- Geopolitical competitors — the US may acquire a strategic benefit over different international locations which can be considering beginning a bitcoin reserve and may reinforce the US’ affect over world monetary requirements
- Power and local weather — Bitcoin mining might be leveraged to speed up the motion towards renewable power
- Monetary inclusion and human rights — the US can promote each the ideas of particular person freedom and monetary inclusion for each US residents and people overseas
Whereas I agree that the US’ establishing an SBR would have these advantages, I additionally suppose it will ship a sure message loud and clear: We embrace change in the USA.
We will inform the world that we’re conscious of Bitcoin’s quite a few constructive attributes and that we need to use them to our benefit.
In doing so, we are able to shift the narrative round Bitcoin from one thing to be feared and managed to one thing that needs to be embraced and utilized, and we are able to stand behind a device that can be utilized to extend the monetary buoyancy of each folks and establishments across the globe as an alternative of standing in its method.
