CryptoQuant’s CEO Ki Young Ju asked if the US needed to adopt Bitcoin as a standard, unless the global trust in the dollar was significantly undermined.
His remarks come as conversations intensify about Bitcoin’s (BTC) role in the US financial system, drawing parallels to past debates over the gold standard.
Ki says:
“I support the idea of a Bitcoin standard, but I question whether the US would resort to it unless the dollar’s dominance is truly at risk.”
This skepticism is indicative of a wider sentiment, that despite the fact Bitcoin can be used as an inflation hedge in certain circumstances, it may not be necessary to make such a change.
Ki’s position reflects a growing but cautious interest in Bitcoin as a strategic asset. He suggested that the US should accumulate one million BTCs by 2050, to help reduce their national debts and improve economic resilience.
However, he acknowledges the challenges, pointing to Bitcoin’s volatility and the complexities of integrating it into the nation’s financial reserves.
Bitcoin’s inclusion in US economic policy gained momentum after Donald Trump promised to turn the US into a world leader in cryptocurrency during the campaign for his presidential election.
Trump’s proposal to establish a national Bitcoin reserve, which garnered wide spread support, has fueled market optimism, contributing to Bitcoin’s record price gains.
Sentiment remains divided
Despite Trump’s enthusiasm, analysts remain divided. While some see Bitcoin as a potential safeguard against inflation, others argue that the dollar’s dominance remains secure as global capital continues to flow into US markets.
Observers also note that during times of economic uncertainty, investors prefer the dollar to assets such as Bitcoin and gold.
Ki believes that Bitcoin’s adoption by institutions and its reduced volatility will make it a mainstream cryptocurrency by 2030. As Bitcoin’s utility becomes more stable, he believes it will become closer to its original purpose as an electronic peer-to-peer cash system.
He added that whether the US moves toward embracing Bitcoin at a strategic level may depend on future shifts in global economic power and confidence in the dollar’s long-term stability.
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