Key Takeaways:
- Bryan Courchesne suggests Bitcoin could become a strategic reserve asset for the U.S. under a future Trump administration.
- The Department of Justice’s 200,000 BTC holdings could be transferred to the Treasury for long-term maintenance.
- Despite support from figures like Mark Cuban, experts like Ari Paul see low odds for Bitcoin becoming a U.S. strategic reserve asset soon.
Asset manager Bryan Courchesne recently suggested on CNBC that Bitcoin could become a strategic reserve asset for the United States, potentially under a future Trump administration.
He noted the Department of Justice’s substantial Bitcoin holdings (200,000 BTC), proposing these could be transferred to the U.S. Department of the Treasury to maintain the asset long-term.
JUST IN: 🇺🇸 CNBC discusses the possibility of the US Government holding #Bitcoin as a reserve currency. pic.twitter.com/7GKt4VXBVs
— Watcher.Guru (@WatcherGuru) July 22, 2024
This idea aligns with increasing speculation about Bitcoin’s role as a global reserve asset, especially following former President Trump’s favorable stance towards digital assets.
Trump’s potential running mate, JD Vance, is also a Bitcoin holder, adding to the speculation.
Billionaire investor Mark Cuban supports the notion, seeing Bitcoin as a safeguard against inflation and geopolitical instability, as evidenced by its adoption in high-inflation countries like Argentina and Venezuela.
Part 2
— Mark Cuban (@mcuban) July 17, 2024
How high can the price go. Way higher than you think. Remember, the market for BTC is global. And the supply has a final limit of 21m BTC, with unlimited fractionalization.
Keep that in mind as you consider what happens if because of geopolitical uncertainty and the…
Conversely, Ari Paul of BlockTower Capital doubts this outcome, estimating a 10:1 chance against Bitcoin becoming a U.S. strategic reserve asset in the near future, despite potential presidential support for holding Bitcoin.
About The Author
Victor Fawole, a seasoned Web3 content creator and social media influencer, excels in bringing the pulse of the crypto world to our readers.
With a keen eye for emerging trends and a talent for engaging storytelling, Victor’s articles offer a fresh perspective on the ever-evolving digital currency landscape.
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