BCGAME - Free 5BTC Daily Bonus!- US Bitcoin reserve discussed as prevention of fiat collapse.
- Global adoption of Bitcoin increases its potential as a strategic reserve.
- Possible impact on Bitcoin price with government adoption.
In a recent interview with Bloomberg Television, Alex Thorn, head of enterprise research at Galaxy Digital, discussed the feasibility of the United States adopting Bitcoin as a strategic reserve. The proposal, described by Thorn as “simple,” is intended to preempt potential fiat currency collapses, as many have failed throughout history. “It’s reasonable for the U.S. to consider alternatives like Bitcoin for the future,” Thorn said.
At the time of publication, the price of Bitcoin was quoted at US$97.966,94, up 5% in the last 24 hours.
He reinforced that the strategic logic surrounding Bitcoin is already recognized globally, citing the example of El Salvador and other nations that have already directly engaged with the cryptocurrency, whether through adoption or mining. The US stance on Bitcoin was also highlighted as a positive point, suggesting that other nations could feel compelled to follow suit to avoid losing competitiveness.
Thorn admitted he was unsure when that might happen, but reiterated that “it’s not unreasonable to consider Bitcoin as a viable long-term option, perhaps looking beyond the next 100 years.”
Mike Novogratz, CEO of Galaxy Digital, also commented on the possibility. According to him, the creation of a Bitcoin reserve by the US government could boost the price of the cryptocurrency to as much as $500.000. “Global interest in Bitcoin is growing, with many countries buying large amounts of the asset,” Novogratz said. He noted strong adoption of Bitcoin, especially in the Middle East, and speculated on a potential rally if more countries opt for the cryptocurrency.
Novogratz concluded by expressing his belief that Bitcoin could emerge as a major global asset, potentially transforming the current financial system. With growing international acceptance and favorable political developments, the outlook for Bitcoin looks promising.
