The US Should Establish A Strategic Bitcoin Reserve

Credit : bitcoinmagazine.com

This morning the Bitcoin Policy Institute (BPI) launched a 53-page report about the advantages of the US establishing a strategic bitcoin reserve (SBR).

In July, @CynthiaMLummis introduced the Bitcoin Act, the primary invoice within the US Congress to suggest a strategic technique #bitcoin to e book.

In our most complete report back to date, we recommend the US’ adoption of a strategic reserve. Learn the report right here: https://t.co/xQJG2Ebksi pic.twitter.com/gq3yI7oJUO

— Bitcoin Coverage Institute (@btcpolicyorg) November 4, 2024

The report’s authors identified 4 key advantages of holding Bitcoin as a strategic reserve:

• Financial and financial stability – Bitcoin is a hedge towards forex depreciation and debt instability
• Geopolitical competitors – the US might achieve a strategic benefit over different nations contemplating making a bitcoin reserve and strengthen US affect on world monetary requirements
• Power and local weather – Bitcoin mining can be utilized to speed up the transfer in the direction of 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 other people overseas

Whereas I agree that the US establishing an SBR would have these advantages, I additionally suppose it could ship a sure message loud and clear: we embrace change in the US.

We will inform the world that we’re conscious of the quite a few optimistic qualities of Bitcoin and that we need to use them to our benefit.

By doing this, we will shift the narrative round Bitcoin from one thing to be feared and managed to one thing to be embraced and used, and get behind a instrument that can be utilized to spice up the monetary buoyancy of each folks and establishments. to extend around the globe. globe as a substitute of getting in his manner.