{"id":17845,"date":"2024-11-04T20:08:05","date_gmt":"2024-11-04T20:08:05","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=17845"},"modified":"2024-11-04T20:08:05","modified_gmt":"2024-11-04T20:08:05","slug":"the-us-should-establish-a-strategic-bitcoin-reserve","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=17845","title":{"rendered":"The US Should Establish A Strategic Bitcoin Reserve"},"content":{"rendered":"<p>This morning, the <a href=\"https:\/\/www.btcpolicy.org\/\">Bitcoin Policy Institute (BPI)<\/a> released a 53-page <a href=\"https:\/\/cdn.prod.website-files.com\/627aa615676bdd1d47ec97d4\/6728fc8707bd49f307435af3_BPI%20Policy%20Brief%20Digital%20Gold.pdf\">report<\/a> on the pros of the United States establishing a strategic bitcoin reserve (SBR).<\/p>\n<p>In July, <a href=\"https:\/\/twitter.com\/CynthiaMLummis?ref_src=twsrc%5Etfw\">@CynthiaMLummis<\/a> announced the BITCOIN Act, the first bill in US Congress to propose a strategic <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> reserve.<\/p>\n<p>In our most comprehensive report to date, we endorse the United States adopting a strategic reserve. Read the report here: <a href=\"https:\/\/t.co\/xQJG2Ebksi\">https:\/\/t.co\/xQJG2Ebksi<\/a> <a href=\"https:\/\/t.co\/gq3yI7oJUO\">pic.twitter.com\/gq3yI7oJUO<\/a><\/p>\n<p>\u2014 Bitcoin Policy Institute (@btcpolicyorg) <a href=\"https:\/\/twitter.com\/btcpolicyorg\/status\/1853463324886786103?ref_src=twsrc%5Etfw\">November 4, 2024<\/a><\/p>\n<p>The authors of the report touched on four key benefits of holding bitcoin as a strategic reserve asset:<\/p>\n<p><strong>Economic and monetary stability<\/strong> \u2014 bitcoin is a hedge against currency debasement and debt instability<strong>Geopolitical competition<\/strong> \u2014 the US could gain a strategic advantage over other countries that are contemplating starting a bitcoin reserve and can reinforce the US\u2019 influence over global financial standards<strong>Energy and climate<\/strong> \u2014 Bitcoin mining can be leveraged to accelerate the movement toward renewable energy<strong>Financial inclusion and human rights<\/strong> \u2014 the US can promote both the concepts of individual freedom and financial inclusion for both US citizens and those abroad<\/p>\n<p>While I agree that the US\u2019 establishing an SBR would have these benefits, I also think it would send a certain message loud and clear: We embrace change in the United States.<\/p>\n<p>We can tell the world that we\u2019re aware of Bitcoin\u2019s numerous positive attributes and that we want to use them to our advantage.<\/p>\n<p>In doing so, we can shift the narrative around Bitcoin from something to be feared and controlled to something that should be embraced and utilized, and we can stand behind a tool that can be used to increase the financial buoyancy of both people and institutions around the globe instead of standing in its way.<\/p>","protected":false},"excerpt":{"rendered":"<p>This morning, the Bitcoin Policy Institute (BPI) released a 53-page report on the pros of the United States establishing a strategic bitcoin reserve (SBR). In July, @CynthiaMLummis announced the BITCOIN Act, the first bill in US Congress to propose a strategic #bitcoin reserve. In our most comprehensive report to date, we endorse the United States [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":17846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17845"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17845"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17845\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17846"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}