This site uses cookies. Browsing the site, you agree to the use of cookies. If you need more information, please visit the Cookies Policy page
Cryptocurrencies: 4221 / Markets: 35027
Market Cap: $ 1 518 292 708 488 / 24h Vol: $ 130 634 913 342 / BTC Dominance: 61.111216666167%

Н News

Why the US Needs Bitcoin

The United States will adopt bitcoin as a reserve asset.

Why? Because it is unequivocally in U.S. strategic interests to do so.

The question is not if this will happen, but when. Whether it happens within 12 months, two years, five years or 10 years will have major implications for U.S. positioning for decades. Failure to embrace bitcoin sooner rather than later will damage U.S. strategic interests and benefit rivals adopting it first.

By examining how the U.S. and other countries manage their reserve assets today, we can already see the logic for this transition to occur.

Today the U.S. holds 261 million troy ounces (8,133 metric tons) of gold, or about $475 billion worth.

This makes the U.S. the largest holder of gold in the world – by a wide margin – with over two times the amount of the next largest holder (Germany).

Historically there was a very good reason for the U.S. to own gold: The U.S. dollar was pegged to its value. Yet, the U.S. broke with the gold standard in 1971, ushering in the fiat currency age that has existed ever since.

So why exactly do the U.S. and other countries continue to own all this gold?

Here are some of the reasons provided directly from central bankers themselves:

Combine these reasons with the cultural importance of gold, and it’s uncontroversial to say that having more gold than everyone else is a very good thing.

Bitcoin’s similarities to gold are well documented, earning it the appropriate nickname of “digital gold.”

Yet, while bitcoin shares many similarities with gold, including scarcity, stable supply inflation, fungibility and durability, it also makes major improvements over gold in some key areas:

For these reasons, a rapidly increasing number of people, companies and institutional investors agree that having more bitcoin than everyone else is a very good thing.

Today this includes the world’s richest man, highly conservative, long-term thinking asset managers, industry leading companies and the most prominent macro investors in the world.

Tomorrow it will include countries, too.

So far, countries and their central banks have resisted (publicly) making or disclosing investments in bitcoin.

In fact, they’ve done the opposite in some cases. European Central Bank head Christine Lagarde was quoted saying it’s “very unlikely” central banks would make the move into bitcoin in the near future. Nigeria’s central bank recently reiterated its outright ban of cryptocurrency. India’s Parliament proposed its own crypto ban, despite the country’s Supreme Court ruling it lawful.

See also: Garrick Hileman – Governments Will Start to Hodl Bitcoin in 2021

These negative actions have occurred in the name of protecting the existing fiat currency regime (e.g., Nigeria) or limiting competition for planned central bank digital currencies (e.g., India).

But there is near certainty that this dynamic will ultimately reverse, potentially within the next 12 months.

Why? Simple economic incentives.

In the near term, there exists an irresistible arbitrage opportunity for a country silently to accumulate a bitcoin position and later announce its holdings. Bitcoin being adopted as a sovereign reserve asset is often considered the “final boss” of adoption milestones. It finally happening would send an ultra-bullish signal and vaporize doubts among traditional investor holdouts, including other central banks.

The resulting adoption acceleration would bestow huge windfalls for early adopter countries who managed to accumulate early in this transition.

In the longer term, bitcoin represents a sovereign wealth-building opportunity with asymmetric risk/reward upside.

Let’s assume a country agrees and decides to buy a relatively small hedge position in bitcoin: 1-5% of its reserves. The upsides are clear, but what’s the downside for being wrong? If it turns out that bitcoin never becomes a global reserve asset, the nation is simply stuck with owning a rapidly growing, highly liquid, alternative asset that behaves a lot like gold.

But what if it doesn’t buy any bitcoin and it does become a global reserve asset? Any late adopter country would see its sovereign wealth diminished relative to early adopters and would be forced to capitulate at higher prices later.

Yet, for the U.S., the downside of not being one of the winners of bitcoin is greater than just about anyone else.

The U.S. is well-known for using the global financial system – and the U.S. dollar’s status as the global reserve currency – to project its power and punish its adversaries. It’s no surprise, then, that rivals such Russia and China have built their gold reserves to historical levels at the expense of USD and U.S. Treasurys.

Their overall goals are clear: create alternatives to the current U.S. monetary hegemony.

As bitcoin continues to gain adoption and becomes a global reserve asset, it will be thrust into this great competition between nations.

See also: Alex Treece – The Intangible Reasons Ethereum and Bitcoin Lead

If America’s rivals embrace bitcoin first and take advantage of the reserve asset arbitrage, not only will they secure a once-in-a-generation economic windfall, they will also be in position to damage U.S. foreign policy and strategic interests.

Fortunately, the U.S. can avoid this outcome, if it acts boldly and embraces bitcoin first.

Despite a complete lack of leadership from executive and legislative branches of government so far, corporate America and American investors are currently winning this competition for the U.S.

Much of the world’s bitcoin is custodied in the United States. Many of the iconic companies in the cryptocurrency industry – firms like Coinbase, Gemini, BitGo, NYDIG, Digital Currency Group (CoinDesk’s parent company) and others – are all U.S.-based. The vast majority of corporate treasury purchases have been made by U.S. companies.

Whether to maintain its leading position of power and wealth or to prevent adversaries from gaining an economic and geopolitical edge, the right strategic move is very clear: The U.S. should play to win with bitcoin. This includes being one of the first to adopt bitcoin as a reserve asset and doing everything possible to ensure the U.S. continues to be the home for many of the most innovative cryptocurrency companies.

The U.S. has found itself at the crossroads of many consequential technology shifts before: the space race, the atom bomb, the internet and, more recently, the race for general purpose artificial intelligence. The outcomes of these sovereign techno-economic games determine the fate of empires.

For the U.S., it’s a game it is unknowingly leading and can still decisively win. But the opportunity to do so is closing.

Source

  • 14.09.20 17:35 Анастасия

    Давайте биткоин по 20к

  • 14.09.20 17:40 Лысый Боб

    Подарите книгу)))

  • 14.09.20 17:41 Светлана П

    Hello

  • 14.09.20 17:48 Николаев

    Понеслась

  • 14.09.20 17:53 Щука А

    Слава эфиру

  • 14.09.20 17:58 Захар Трофимов

    Надо изучать Defi , интересно

  • 14.09.20 18:01 Попко Колян

    Давайте биткоин по 20к

  • 14.09.20 18:08 Попков С.А.

    Круто

  • 14.09.20 18:13 Алексей С.

    ​гуд

  • 14.09.20 18:18 Попков С.А.

    Как успехи?

  • 14.09.20 18:24 Попко Колян

    👍👍👍👍👍

  • 14.09.20 18:26 Егор Шетюк

    Понеслась

  • 14.09.20 18:26 Захар Трофимов

    15$. Тюмень рулит😁

  • 14.09.20 18:35 Константин В.В

    Биток и эфир держу до лучших времён)

  • 14.09.20 18:38 Попко Колян

    ​ДОБРОГО

  • 14.09.20 18:43 Даниил

    Рига смотрит

  • 14.09.20 18:46 Вадим Никулин

    Всегда смотрю Вас!

  • 14.09.20 18:55 Захар Трофимов

    Минск на проводе

  • 14.09.20 18:56 Щука А

    Спасибо за ваш труд

  • 14.09.20 19:01 Никита

    Хай

  • 14.09.20 19:06 Вячеслав Левков

    Отложил биток на пенсию

  • 14.09.20 19:13 Попков С.А.

    Отличные эфиры у вас

  • 14.09.20 19:20 Щука А

    Привет из Москвы

  • 14.09.20 19:25 Алексей С.

    Всем РЕСПЕКТ

  • 14.09.20 19:27 Николай

    Вперед криптаны

  • 14.09.20 19:34 КРИПТАН

    Слышно гуд

  • 14.09.20 19:36 Егор Шетюк

    Подарите книгу)))

  • 14.09.20 19:44 Светлана П

    миллионерам привет

  • 14.09.20 19:48 Вячеслав Левков

    Крипта скам=)

  • 14.09.20 19:53 Тоха

    Понеслась

  • 14.09.20 19:57 Носов А.А

    Рига смотрит

  • 14.09.20 20:04 Прокоп

    Донаты принемаете?

  • 14.09.20 20:06 Носов А.А

    спасибо

  • 14.09.20 20:12 Юрий Ник

    Тюмень рулит😁

  • 14.09.20 20:18 Даниил

    миллионерам привет

  • 14.09.20 20:18 Нина

    17$. Биток и эфир держу до лучших времён)

  • 14.09.20 20:24 Никита

    18$. Задонатю вам баблишка)

  • 14.09.20 20:25 Вячеслав Левков

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 20:26 Павел Скоровойтов

    Слава эфиру

  • 14.09.20 20:35 Носов А.А

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 20:36 Тоха

    Шалом

  • 14.09.20 20:44 Лена

    Биток и эфир держу до лучших времён)

  • 14.09.20 20:47 Нина

    ​ку-ку)

  • 14.09.20 20:53 Попков С.А.

    Все good. Ростем потихоньку и падаем, как всегда

  • 14.09.20 20:58 Санек

    Всем РЕСПЕКТ

  • 14.09.20 21:01 Славка Орехов

    Спасибо за ваш труд

  • 14.09.20 21:10 Ваня А,

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 21:13 Нина

    ​ДОБРОГО

  • 14.09.20 21:20 Никита

    Привет парни!

  • 14.09.20 21:25 Егор Шетюк

    Hello

  • 14.09.20 21:27 Вячеслав Левков

    ​ку-ку)

  • 14.09.20 21:33 Попков С.А.

    Тамбов с вами братва

  • 14.09.20 21:37 Серега Бумер

    Слава эфиру

  • 14.09.20 21:42 Ваня А,

    Подарите книгу)))

  • 14.09.20 21:50 Павел Скоровойтов

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 21:54 Захар Трофимов

    Привет парни!

  • 14.09.20 21:56 Санек

    Отложил биток на пенсию

  • 14.09.20 22:03 Носов А.А

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 22:03 Попков С.А.

    14$. Надо изучать Defi , интересно

  • 14.09.20 22:09 Николай

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 22:14 Вадим Никулин

    Я из РБ слежу за вами давно💰

  • 14.09.20 22:17 Николай

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 22:24 Лена

    ​Я снова с вами)))

  • 14.09.20 22:28 Носов А.А

    Отложил биток на пенсию

  • 14.09.20 22:31 Серега Бумер

    Тюмень рулит😁

  • 14.09.20 22:40 Светлана П

    Сморгонь 👍

  • 14.09.20 22:43 Вадим Никулин

    Отложил биток на пенсию

  • 14.09.20 22:46 Николаев

    Круто

  • 14.09.20 22:53 Ваня А,

    Люблю ваши трансляции, вы крутые!

  • 14.09.20 22:58 Вячеслав Левков

    Биток вперед!!!

  • 14.09.20 23:05 Носов А.А

    ​Привет всем с Украины!

  • 14.09.20 23:06 Носов А.А

    12$. ​здарова бандиты

  • 14.09.20 23:09 Константин В.В

    Отложил биток на пенсию

  • 14.09.20 23:14 Прокоп

    Екатеринбург на связи

  • 14.09.20 23:18 Николаев

    Круто

  • 14.09.20 23:25 Тоха

    ​здарова бандиты

  • 14.09.20 23:27 Попков С.А.

    Отличные эфиры у вас

  • 14.09.20 23:33 Лена

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 23:39 Николаев

    Доброе утречко

  • 14.09.20 23:45 Лена

    Как успехи?

  • 14.09.20 23:49 Павел Скоровойтов

    ​ку-ку)

  • 14.09.20 23:51 Ваня А,

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 23:57 Попков С.А.

    Хомяки тут

  • 15.09.20 00:01 Лысый Боб

    Привет, пацаны. Слышно, видно хорошо

  • 15.09.20 00:07 Санек

    Слава эфиру

  • 15.09.20 00:12 Щука А

    Екатеринбург на связи

  • 15.09.20 00:14 Нина

    23$. Лайк

  • 15.09.20 00:16 Юрий Ник

    Вперед криптаны

  • 15.09.20 00:25 Лена

    Биток и эфир держу до лучших времён)

  • 15.09.20 00:26 Попков С.А.

    Как успехи?

  • 15.09.20 00:33 Попко Колян

    Я из РБ слежу за вами давно💰

  • 15.09.20 00:40 Даниил

    миллионерам привет

  • 15.09.20 00:50 Константин В.В

    11$. Круто

  • 17.09.20 15:31 Trident

    купил билет на семинар который изначально планировался в субботу.... в пятницу не смогу послушать, гле посмотреть запись?

  • 24.09.20 12:08 Серго1985

    Как бабло зарабатывается??

  • 15.10.20 09:16 Vyacheslav

    отлично зарабатывается !)

  • 15.10.20 09:16 Vyacheslav

    у вас как?

  • 09.02.21 10:40 ave2510

    всем привет! кто то заходил в ю8д...?

  • 10.02.21 12:52 [email protected]

    почему я на юнисвоп не вижу токен NTFI

  • 16.02.21 18:27 Jessikagylu

    Всем привет. А какой интернет вы используете для майнинга? Прочла интересную статью https://hashalot.io/blog/vyjdet-li-majning-za-limit-trafika-kakaya-skorost-interneta-nuzhna-dlya-majninga/ и задумалась над этим. Какие характеристики сети у вашего провайдера?

To join the Chat, you need a free pro-blockchain.com account. Enter Registration