The CEO of digital asset analytics firm CryptoQuant believes a national strategic Bitcoin (BTC) reserve could offset US debt.
Ki Young Ju tells his 389,600 followers on the social media platform
“This year alone, $352 billion in inflows increased market capitalization by $1 trillion.
However, using a pumpable asset like Bitcoin to offset dollar-denominated debt – rather than gold or dollars – could make it difficult to reach creditor consensus. For Bitcoin to achieve wider market acceptance, Bitcoin must achieve global, nationwide authority on par with gold. Establishing a Bitcoin Strategic Reserve (SBR) could serve as a symbolic first step.
Since 70% of US debt is held domestically, if the US government classifies Bitcoin as a strategic asset, it will be possible to offset 36% of it by purchasing 1 million Bitcoin by 2050.”
CryptoQuant’s CEO adds that the 30% of debt held by foreign companies could potentially resist this approach, but argues that the strategy still remains viable.
“If a consensus is reached on…
