This morning, the Bitcoin Policy Institute (BPI) released a 53-page report on the merits of the United States establishing a bitcoin reserve (SBR).
In July, @CynthiaMLummis announced the BITCOIN Act, the first bill in the US Congress to propose the strategy #bitcoin save.
In our most comprehensive report to date, we allow the United States to adopt a strategic reserve. Read the report here: pic.twitter.com/gq3yI7oJUO
– Bitcoin Policy Institute (@btcpolicyorg) November 4, 2024
The authors of this report touched on four key benefits of holding bitcoin as a strategic asset:
- Economic and financial stability – bitcoin is a hedge against devaluation and credit instability
- Political competition – the US can gain a strategic advantage over other countries that are considering starting a bitcoin repository and can strengthen the influence of the US over global financial standards.
- Energy and weather – Bitcoin mining may be used to accelerate the move to renewable energy
- Financial inclusion and human rights – the US can promote both concepts of individual freedom and financial inclusion for both US citizens and those abroad
While I agree that the US deployment of the SBR will have these benefits, I think it will send a certain message loud and clear: We welcome change in the United States.
We can tell the world that we know many positive aspects of Bitcoin and we want to use them to our advantage.
By doing so, we can change the narrative around Bitcoin from something to be feared and controlled to something to be embraced and used, and we can stand behind a tool that can be used to increase the financial prosperity of the people and institutions around Bitcoin. the globe instead of standing in its way.