Ki Young Ju, the CEO of CryptoQuant, warns that the U.S. government’s motivations for establishing a Bitcoin 
$92,322 standard may differ from what investors expect. Ju expresses personal support for the concept of a Bitcoin Standard but questions whether the U.S. will recognize it as a strategic asset. He believes that without a genuine threat to its global economic dominance from another country, the U.S. is unlikely to embrace Bitcoin seriously.
The Future of Bitcoin Reserves
The notion of a Bitcoin Standard entails the U.S. government using Bitcoin as a reserve asset. Ju argues that even if this were feasible, the government’s intentions would likely differ significantly from those of Bitcoin advocates and investors. He highlights that the U.S. government’s approach to Bitcoin may not align with the idealistic view held by many in the cryptocurrency community.
U.S. Plans for Bitcoin
Ju posits that the government could consider purchasing Bitcoin for risk management or economic leverage. However, he adds that this motivation is unlikely to stem from a desire to utilize Bitcoin as a safeguard for the monetary system, as envisioned by its supporters. With global capital flowing into the U.S., many continue to believe in the stability of the dollar’s supremacy.
“I support the idea of a Bitcoin Standard personally. However, I question whether the U.S. will adopt Bitcoin as a strategic asset unless truly threatened.”
Ju notes that if former President Donald Trump succeeds in reinforcing the power of the U.S. dollar, he might change his strong supportive stance towards Bitcoin. If Trump successfully maintains the resilience of the U.S. economy and enhances the dollar’s popularity, his previous pro-Bitcoin position may not persist.
“If Trump strengthens the dollar, he may weaken his support for Bitcoin.”
The CEO of CryptoQuant indicates that Trump’s potential support for Bitcoin could diminish if the dollar strengthens.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
