This morning the Bitcoin Policy Institute (BPI) released a 53-page report about the benefits of the United States setting up a strategic bitcoin reserve (SBR).
In July, @CynthiaMLummis announced the Bitcoin Act, the first bill in the US Congress to propose a strategic strategy #bitcoin to book.
In our most comprehensive report to date, we endorse the United States’ adoption of a strategic reserve. Read the report here: https://t.co/xQJG2Ebksi pic.twitter.com/gq3yI7oJUO
— Bitcoin Policy Institute (@btcpolicyorg) November 4, 2024
The report’s authors pointed out four key benefits of holding bitcoin as a strategic reserve:
- Economic and monetary stability – Bitcoin is a hedge against currency depreciation and debt instability
- Geopolitical competition – the US could gain a strategic advantage over other countries considering creating a bitcoin reserve and strengthen US influence on global financial standards
- Energy and climate – Bitcoin mining can be used to accelerate the move towards renewable energy
- Financial inclusion and human rights – the US can promote both the concepts of individual freedom and financial inclusion for both US citizens and people abroad
While I agree that the US 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.
We can tell the world that we are aware of the numerous positive qualities of Bitcoin and that we want to use them to our advantage.
By doing this, we can shift the narrative around Bitcoin from something to be feared and controlled to something to be embraced and used, and get behind a tool that can be used to boost the financial buoyancy of both people and institutions around the world. globe instead of getting in his way.