US Considers Bitcoin as Dollar Strength Faces Challenges

By: Eliza Bennet

The debate over Bitcoin's integration into the US financial system is heating up, drawing attention to its potential role in hedging against inflation. The CEO of CryptoQuant, Ki Young Ju, points out that Bitcoin's adoption by the US might not be on the horizon unless confidence in the dollar diminishes significantly. As part of ongoing discussions, links are being made to historical debates on the gold standard. Read more.

The prospect of establishing a national Bitcoin reserve, an idea introduced by political figures, is adding to Bitcoin's market optimism. Advocates argue for its potential to solidify the US's leadership in global cryptocurrency; however, skeptics like Ki Young Ju suggest that such proposals may stall without a credible threat to the US's economic supremacy.

Reflecting on past economic strategies that focused on commodities such as gold, Young Ju foresees Bitcoin assuming a mainstream currency role by 2030, bolstered by institutional buy-in and reduced volatility. A US pivot toward Bitcoin may depend on transformative global shifts in economic power dynamics in the coming years.