Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Bobcrypto on March 08, 2025, 07:55:18 AM
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Many people has spoken about how unreliable some politicians may be, but we might have seen and acknowledged the efforts of president Donald Trump, his vocal about bitcoin, and his planned to establish a Bitcoin strategic reserve, and now it has been implemented.
Now, with the strategic reserve implemented in the US, do we expect other nations to follow the US steps? I have a filling that many nations are skeptic of the potential of Bitcoin against Fiats, hence many are not saying any thing or speak out about the benefits of the Bitcoin strategic reserves. There seems to be too many protection against fiat in some countries, probably there may be Bitcoin Dominance factors against many Fiats or may be some political leaders in other parts of the world lact any knowledge of Bitcoin or the blockchain. What do you think?
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When they started seeing the benefits of using Bitcoin as strategic reserve funds you would see them wanting to venture onto it, like for now they are too protective against fiat not to lose it's values, and for sure this would likely affect the currency of that nation if they aren't strong, but then we have to also think that Bitcoin isn't created as a competitor to fiat neither would Bitcoin dominate fiat.
The fact is that everyone country i mean, nation would have to protect their currency and those who are likely using now are those who have a brighter knowledge towards Bitcoin and its progression, and judging to how the growth of Bitcoin has been you would understand that it's important to at least use Bitcoin as a strategic reserve funds since its grows exponentially Even though the volatility level intensive it wouldn't collapsed that so easily.
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When they started seeing the benefits of using Bitcoin as strategic reserve funds you would see them wanting to venture onto it,
Do tell me what's the benefit for a country to use Bitcoin as a strategic reserve and how will that work?
The US will hold most of the hash rate and China will be the sole producer of ASICs, how safe is it for a country to rely on such a reserve when we're seeing an economic trade war unfolding?
The fact is that everyone country i mean, nation would have to protect their currency and those who are likely using now are those who have a brighter knowledge towards Bitcoin and its progression, and judging to how the growth of Bitcoin has been you would understand that it's important to at least use Bitcoin as a strategic reserve funds since its grows exponentially
And let's assume that other countries see that buying Bitcoin now would simply increase the value of the US reserve, making the USD stronger, why would you buy an asset that will weaken your own currency as you buy while propping up the competitor currency?
Everyone here was talking about how countries want to cut their dependence on the dollar as a global reserve and now they will be spending money to prop it up again with their own funds?
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Many people has spoken about how unreliable some politicians may be, but we might have seen and acknowledged the efforts of president Donald Trump, his vocal about bitcoin, and his planned to establish a Bitcoin strategic reserve, and now it has been implemented.
Now, with the strategic reserve implemented in the US, do we expect other nations to follow the US steps? I have a filling that many nations are skeptic of the potential of Bitcoin against Fiats, hence many are not saying any thing or speak out about the benefits of the Bitcoin strategic reserves. There seems to be too many protection against fiat in some countries, probably there may be Bitcoin Dominance factors against many Fiats or may be some political leaders in other parts of the world lact any knowledge of Bitcoin or the blockchain. What do you think?
the concept of national bitcoin reserve is fascinating, but it's implementation is faced with difficulties. Several countries are exploring this idea, but bitcoin volatility and regulatory challenges makes it unlikely choice for most central banks, while the idea of national BTC reserve is intriguing, it's implementation faces significant challenges, bitcoin regulatory challenges makes it unlikely choice for most central bank at least for the time being, countries like Czech Republic has join the growing list also Hong Kong which is known for its progressive crypto regulatory environment, is also exploring a strategic Bitcoin reserve so for now since there is an ongoing global discussion let's wait and see if it will be widely accepted.
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As far as I know, there are other countries besides the United States that are seeking or planning to buy Bitcoin as a strategic reserve, as the United States did, such as Russia and Brazil. Of course, these are still projects that need a lot of work and approvals to get final approval.
But on the other hand, some countries have begun to fear Trump's plans to control Bitcoin or make it an American asset, and therefore these countries may consider, within the framework of the economic war, refraining from buying Bitcoin and trying to weaken Bitcoin to weaken the American strategic reserve.
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When they started seeing the benefits of using Bitcoin as strategic reserve funds you would see them wanting to venture onto it,
Do tell me what's the benefit for a country to use Bitcoin as a strategic reserve and how will that work?
The US will hold most of the hash rate and China will be the sole producer of ASICs, how safe is it for a country to rely on such a reserve when we're seeing an economic trade war unfolding?
-snip-
and China will play with ASIC prices very well to make the US dependent on China so that the economic trade war will continue.
When a country like the US wants to make Bitcoin a strategic reserve it is like a tool to start manipulating the crypto market quite ruthlessly, so that there is no more technical and fundamental depiction of how the price of bitcoin will go, there will only be manipulation and it will benefit the US and some countries that play in it.
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When they started seeing the benefits of using Bitcoin as strategic reserve funds you would see them wanting to venture onto it,
Do tell me what's the benefit for a country to use Bitcoin as a strategic reserve and how will that work?
The US will hold most of the hash rate and China will be the sole producer of ASICs, how safe is it for a country to rely on such a reserve when we're seeing an economic trade war unfolding?
The fact is that everyone country i mean, nation would have to protect their currency and those who are likely using now are those who have a brighter knowledge towards Bitcoin and its progression, and judging to how the growth of Bitcoin has been you would understand that it's important to at least use Bitcoin as a strategic reserve funds since its grows exponentially
And let's assume that other countries see that buying Bitcoin now would simply increase the value of the US reserve, making the USD stronger, why would you buy an asset that will weaken your own currency as you buy while propping up the competitor currency?
Everyone here was talking about how countries want to cut their dependence on the dollar as a global reserve and now they will be spending money to prop it up again with their own funds?
well making asics in china is not the issue
and the usa having most of the mining gear mining is not the issue.
that loop allows high fees to miners with the usa charging massive tariffs to the mining gear.
the trade war shifts the tax burden to miners and away from hodlers or users.
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and the usa having most of the mining gear mining is not the issue.
Not an issue?
Imagine, let's say Denmark would want to add Bitcoin to their reserves..
And then Trump orders every miner and mining pool in the US to blacklist all of Denmark coins and addresses until they give up Greenland, what do you think other countries would do?
When a country like the US wants to make Bitcoin a strategic reserve it is like a tool to start manipulating the crypto market quite ruthlessly, so that there is no more technical and fundamental depiction of how the price of bitcoin will go, there will only be manipulation and it will benefit the US and some countries that play in it.
And this proves that no country that is at risk of a trade war with the US would risk money in Bitcoin reserve it has no control over it.
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These Bitcoin reserves come from confiscated platforms, so the US is not really spending anything here; other countries that do not have enough funds will think before using their reserve to buy Bitcoin, knowing how volatile the market is, so we do not expect countries to follow US leads; only if the country has a stable economy and has excess funds, then they can make Bitcoin as their reserves.
Its hard for third-world countries to gamble with Bitcoin reserves because of the risk to their economies.
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I am yet to figure out the economic implications of some countries having a Bitcoin strategic reserve, especially the third world countries as you mentioned. For example, Elsalvado has already key into the Bitcoin strategic reserve, and i think that for a short term, there may be some critical analysis on any likely implications if there is any. However many third world countries may lack the resources to acquire Bitcoin, besides their poor resources, Bitcoin strategic reserve will have a positive impact on the economy of any nation in the future.
In addition, Bitcoin strategic reserve will be an economic advantage of many of these countries if they thoroughly study the gains at the long run. Bitcoin has a limited supply of 21million, meaning there will be strong scarcity in near future, and one of the biggest features of bitcoin that wise leaders should utilize in my opinion.
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I am yet to figure out the economic implications of some countries having a Bitcoin strategic reserve, especially the third world countries as you mentioned. For example, Elsalvado has already key into the Bitcoin strategic reserve, and i think that for a short term, there may be some critical analysis on any likely implications if there is any. However many third world countries may lack the resources to acquire Bitcoin, besides their poor resources, Bitcoin strategic reserve will have a positive impact on the economy of any nation in the future.
In addition, Bitcoin strategic reserve will be an economic advantage of many of these countries if they thoroughly study the gains at the long run. Bitcoin has a limited supply of 21million, meaning there will be strong scarcity in near future, and one of the biggest features of bitcoin that wise leaders should utilize in my opinion.
The positive impact that BTC has brought to El Salvador is not in the profits from mining BTC with volcanic geothermal energy, nor does it come from BTC price increase, because they only hold about more than 6K BTC ~ $600M = 0.56% of their 2024-GDP. El Salvador receives more value in free advertising, tourism attraction and foreign investment. Before 2021, I didn't know where El Salvador is and who their president was, but now I can spell Nayib Bukele name correctly ^^
Back to the topic, according to game theory, other governments will also accumulate BTC because in the scenario that BTC becomes extremely valuable they will not miss this opportunity, while if BTC completely loses its value they will not lose anything and their position in the world will not change. The worst scenario is that they ignore BTC and then BTC becomes extremely valuable, they will be left behind in this financial wave. Even if BTC does not soon reach $1M or $10M in the short term, the positive impacts it brings to countries in the form of tourism and investment will be already huge. I hope that when this happens, governments will allocate a portion of the revenue from tourism and investment to continue accumulating more BTC.
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and China will play with ASIC prices very well to make the US dependent on China so that the economic trade war will continue.
When a country like the US wants to make Bitcoin a strategic reserve it is like a tool to start manipulating the crypto market quite ruthlessly, so that there is no more technical and fundamental depiction of how the price of bitcoin will go, there will only be manipulation and it will benefit the US and some countries that play in it.
We might have been experiencing some recent manipulation as well, but do you really think there wasn't a manipulation before?
The only difference now is that the manipulation is actually going to have a face of USA as the upfront manipulator when they finally starts their strategic reserve.
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After the ETFs in 2024, the next game-changer can be the Bitcoin Strategic Reserve started in 2025 but we still have to see some major bouncing effects on this one as the government under Trump has yet to start buying Bitcoin in addition to what it already has. This might lead to some limited number of countries to look at this reserve move and see if doing the same thing can bring benefits to their countries' economic stability and progress...and this can take some time so we don't have to expect some magic here just like many who are expressing disappointments why Bitcoin did not make dramatic push up back to the $100K circle. Seems people really lack the virtue of patience, time and waiting.
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As far as I know, there are other countries besides the United States that are seeking or planning to buy Bitcoin as a strategic reserve, as the United States did, such as Russia and Brazil. Of course, these are still projects that need a lot of work and approvals to get final approval.
But on the other hand, some countries have begun to fear Trump's plans to control Bitcoin or make it an American asset, and therefore these countries may consider, within the framework of the economic war, refraining from buying Bitcoin and trying to weaken Bitcoin to weaken the American strategic reserve.
The Bitcoin ecosystem is decentralized, I don't think that Donald Trump can control it, though there may be stronger regulations but i still don't think that Bitcoin can be centralized by anyone. Donald Trump plan is to make American the head quarter of Cryptocurrency and every things related to crypto.
Again, it is too early to conclude whether other countries want to weaken Bitcoin and weaken the Bitcoin strategic reserve, we can be watching the development to see how other countries act as time progresses.
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We might have been experiencing some recent manipulation as well, but do you really think there wasn't a manipulation before?
The only difference now is that the manipulation is actually going to have a face of USA as the upfront manipulator when they finally starts their strategic reserve.
Yeah, as for now, we all know who is pulling the strings mostly with tariffs and so on, before that, the actors weren't doing it as openly ;D
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The positive impact that BTC has brought to El Salvador is not in the profits from mining BTC with volcanic geothermal energy, nor does it come from BTC price increase, because they only hold about more than 6K BTC ~ $600M = 0.56% of their 2024-GDP. El Salvador receives more value in free advertising, tourism attraction and foreign investment. Before 2021, I didn't know where El Salvador is and who their president was, but now I can spell Nayib Bukele name correctly ^^
And do you have sources for that actually happening?
Because look what official sources say:
Cross-post from BTT
These are the figures of GDP growth in 2022/2023 for central america:
Guatemala 4.1% 3.5%
Panama 10.8% 5.1%
Honduras 4% 3.2%
Salvador 2.6% 2.7%
Nicaragua 3.8% 3.1%
Costa Rica 4.6% 4.1%
Belize 8.7% 4.2%
Salvador has had the lowest growth in Central America for two consecutive years!
It has run a $764.60 millions deficit last year after a previous $587.40 million deficit.
Second, if Salvador is doing that great, why are they begging the IMF for a loan and why is there no bank giving them one?
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The Bitcoin ecosystem is decentralized, I don't think that Donald Trump can control it, though there may be stronger regulations but i still don't think that Bitcoin can be centralized by anyone. Donald Trump plan is to make American the head quarter of Cryptocurrency and every things related to crypto.
Again, it is too early to conclude whether other countries want to weaken Bitcoin and weaken the Bitcoin strategic reserve, we can be watching the development to see how other countries act as time progresses.
Of course Bitcoin is decentralized and no one can centralize it, but on the other hand it can be made less centralized through third-party services.
By imposing KYC, AML, and anti-terrorism regulations on third-party services, which in turn will be imposed on users, the US can greatly reduce Bitcoin’s decentralization, because people will eventually be forced to use third-party services.
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IMO, a FOMO among nations will soon follow, especially considering Bitcoin has almost the same market cap as silver (and has even left silver behind many times recently).
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Since the United States is currently one of the world's superpowers and is a role model for many other countries, many of them can influence other countries to also allocate Bitcoin as a strategic reserve.
And if we set a strategic reserve for the long term, I don't think there will be any loss for a country, rather Bitcoin can bring huge profits for that country. So I think in the future other countries will adopt Bitcoin as a strategic reserve like the United States of America.
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and the usa having most of the mining gear mining is not the issue.
Not an issue?
Imagine, let's say Denmark would want to add Bitcoin to their reserves..
And then Trump orders every miner and mining pool in the US to blacklist all of Denmark coins and addresses until they give up Greenland, what do you think other countries would do?
When a country like the US wants to make Bitcoin a strategic reserve it is like a tool to start manipulating the crypto market quite ruthlessly, so that there is no more technical and fundamental depiction of how the price of bitcoin will go, there will only be manipulation and it will benefit the US and some countries that play in it.
And this proves that no country that is at risk of a trade war with the US would risk money in Bitcoin reserve it has no control over it.
The issue is the musky trumpeter is feeling very frisky and billions of people are reacting to it.
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Now, with the strategic reserve implemented in the US, do we expect other nations to follow the US steps? I have a filling that many nations are skeptic of the potential of Bitcoin against Fiats, hence many are not saying any thing or speak out about the benefits of the Bitcoin strategic reserves.
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What do you think?
With this move of Trump, there might be some nations that will change how they look at Bitcoin. Many countries are skeptical I believe due to the fact that it might just go to zero since nobody owns it, or maybe they're doing it to prevent their people from getting scammed since many are using Bitcoin to scam people. With this move of Trump, it might change in the next few years.
As for other countries following his move, I guess it will depend on the outcome of this in the next months to a year or two. Many might be skeptical to follow what he did because it's the first time that a country will use Bitcoin as their own strategic reserve, but the US government has a reserve for Oil, Gold, and even Cheese so they can do it with Bitcoin as well. If other countries will follow though, this might create a supply squeeze in the long run.
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IMO, a FOMO among nations will soon follow, especially considering Bitcoin has almost the same market cap as silver (and has even left silver behind many times recently).
Only after a recession of sorts ;)
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IMO, a FOMO among nations will soon follow, especially considering Bitcoin has almost the same market cap as silver (and has even left silver behind many times recently).
but maybe a mass dump is in the cards.
the musky trumpeter has done a lot the last month and change.
it could spook the market further.
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IMO, a FOMO among nations will soon follow, especially considering Bitcoin has almost the same market cap as silver (and has even left silver behind many times recently).
but maybe a mass dump is in the cards.
the musky trumpeter has done a lot the last month and change.
it could spook the market further.
It may be the case too, a sale is good, but a bigger sale? - They would be glad to use this opportunity just like the rest.
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IMO, a FOMO among nations will soon follow, especially considering Bitcoin has almost the same market cap as silver (and has even left silver behind many times recently).
but maybe a mass dump is in the cards.
the musky trumpeter has done a lot the last month and change.
it could spook the market further.
Yeah, you will never know what is going on in the mind of powerful people who actually move the market as per their own interests. However, I am pretty positive with the stance of the orange man regarding giving BTC a international stage. Lets give the credit where it's due.
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Yeah, you will never know what is going on in the mind of powerful people who actually move the market as per their own interests. However, I am pretty positive with the stance of the orange man regarding giving BTC a international stage. Lets give the credit where it's due.
I do think they will down the market till it satisfies them and then get a good load of everything they listed for the reserves and stockpiles.
It would be logical, at least.
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~snip~
Now, with the strategic reserve implemented in the US, do we expect other nations to follow the US steps?
~snip~
I think the rules will be strict if a country implements Bitcoin as a reserve fund because Bitcoin is vulnerable to hacking. If a hack occurs, the Bitcoin will be difficult to return, and sometimes the traces will disappear because Bitcoin is laundered on the Mixer platform or the like.
For example, like this:
1. The country of Berus has a Bitcoin reserve of 20,000 BTC.
2. The country of Berus' Bitcoin reserve was hacked up to 2,000 BTC.
3. The country of Berus will definitely experience a loss of around 2,000 BTC.
4. The country of Berus must be able to replace the 2,000 BTC reserve because it is a state asset or state money.
It seems like this will be good news for our community in crypto but I am sure the regulations in the country that accepts the Bitcoin reserve will provide strict treatment to Bitcoin owners.
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Many people has spoken about how unreliable some politicians may be, but we might have seen and acknowledged the efforts of president Donald Trump, his vocal about bitcoin, and his planned to establish a Bitcoin strategic reserve, and now it has been implemented.
Now, with the strategic reserve implemented in the US, do we expect other nations to follow the US steps? I have a filling that many nations are skeptic of the potential of Bitcoin against Fiats, hence many are not saying any thing or speak out about the benefits of the Bitcoin strategic reserves. There seems to be too many protection against fiat in some countries, probably there may be Bitcoin Dominance factors against many Fiats or may be some political leaders in other parts of the world lact any knowledge of Bitcoin or the blockchain. What do you think?
Yes, at least we have to wait for the impact after the decision is implemented, because seeing that Bitcoin is currently still not fully accepted by governments around the world, it might make some countries choose to wait for several countries to do their research, until they can be really sure about making Bitcoin a part of their country's finances, considering that the risk is also quite large from the government's point of view...
If the US only applies this for certain interests, wouldn't this make other countries less interested in making Bitcoin a strategic reserve? It all depends on the results and impacts experienced by the US when the Donald Trump administration takes action.
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~snip~
Now, with the strategic reserve implemented in the US, do we expect other nations to follow the US steps?
~snip~
I think the rules will be strict if a country implements Bitcoin as a reserve fund because Bitcoin is vulnerable to hacking. If a hack occurs, the Bitcoin will be difficult to return, and sometimes the traces will disappear because Bitcoin is laundered on the Mixer platform or the like.
For example, like this:
1. The country of Berus has a Bitcoin reserve of 20,000 BTC.
2. The country of Berus' Bitcoin reserve was hacked up to 2,000 BTC.
3. The country of Berus will definitely experience a loss of around 2,000 BTC.
4. The country of Berus must be able to replace the 2,000 BTC reserve because it is a state asset or state money.
It seems like this will be good news for our community in crypto but I am sure the regulations in the country that accepts the Bitcoin reserve will provide strict treatment to Bitcoin owners.
I don't see how it would be hacked if the gov would invest as much as so little to read about how to store their Bitcoin properly.
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~snip~
Now, with the strategic reserve implemented in the US, do we expect other nations to follow the US steps?
~snip~
I think the rules will be strict if a country implements Bitcoin as a reserve fund because Bitcoin is vulnerable to hacking. If a hack occurs, the Bitcoin will be difficult to return, and sometimes the traces will disappear because Bitcoin is laundered on the Mixer platform or the like.
For example, like this:
1. The country of Berus has a Bitcoin reserve of 20,000 BTC.
2. The country of Berus' Bitcoin reserve was hacked up to 2,000 BTC.
3. The country of Berus will definitely experience a loss of around 2,000 BTC.
4. The country of Berus must be able to replace the 2,000 BTC reserve because it is a state asset or state money.
It seems like this will be good news for our community in crypto but I am sure the regulations in the country that accepts the Bitcoin reserve will provide strict treatment to Bitcoin owners.
I don't see how it would be hacked if the gov would invest as much as so little to read about how to store their Bitcoin properly.
Please check this one:
Bybit was exploited for over $1.4 billion Friday, rocking the crypto industry to the core, as it easily became the largest single heist in crypto history.
Do you know that ByBit's system is designed to be so strong that it is also anti-hacking?
But see this news:
https://www.ibtimes.com/bybit-hack-how-14b-exploit-happened-funds-recovered-whos-responsible-3764817
That means a solid project like ByBit also experienced the effects of hacking by irresponsible Hackers and they named it Lazarus.
If Bitcoin becomes a reserve fund in a country, then it is certain that the country will be targeted by hackers to steal its Bitcoin. I think this is not a taboo but hackers are indeed specialists in stealing, regardless of whether it is from a private company or a country because what is important is what is being sought after is Bitcoin.
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Do you know that ByBit's system is designed to be so strong that it is also anti-hacking?
But see this news:
https://www.ibtimes.com/bybit-hack-how-14b-exploit-happened-funds-recovered-whos-responsible-3764817
That means a solid project like ByBit also experienced the effects of hacking by irresponsible Hackers and they named it Lazarus.
If Bitcoin becomes a reserve fund in a country, then it is certain that the country will be targeted by hackers to steal its Bitcoin. I think this is not a taboo but hackers are indeed specialists in stealing, regardless of whether it is from a private company or a country because what is important is what is being sought after is Bitcoin.
Maybe you are right, but we don't know whether it was via human nature the mistake was made or it was only a matter of tech being broken apart to open the vaults through, so to speak, the details will be, of course, not disclosed.
I saw the fact that they just broke into the dev's machine and injected some code there, so..
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Do you know that ByBit's system is designed to be so strong that it is also anti-hacking?
But see this news:
https://www.ibtimes.com/bybit-hack-how-14b-exploit-happened-funds-recovered-whos-responsible-3764817
That means a solid project like ByBit also experienced the effects of hacking by irresponsible Hackers and they named it Lazarus.
If Bitcoin becomes a reserve fund in a country, then it is certain that the country will be targeted by hackers to steal its Bitcoin. I think this is not a taboo but hackers are indeed specialists in stealing, regardless of whether it is from a private company or a country because what is important is what is being sought after is Bitcoin.
~snip~
I saw the fact that they just broke into the dev's machine and injected some code there, so..
So, so what?
So what do you mean?
The US should be ready with extra security for its Bitcoin assets as a backup because what you said above is a small example of hackers being able to steal Bitcoin easily from ByBit exchange.
I don't really know how "broke into the dev's machine and injected some code" works because my basic is not from a Hacker but with this incident it proves that a country's security is at stake if it uses Bitcoin as a reserve fund.
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Most likely, yeah. And governments already started accumulating bitcoin after realizing that there is no way to stop them from becoming the real so we see reserves and also Russia, India and China seems to be using cryptos for the oil trades due to the sanctions so it's already happening so it will take few more years for other countries to find out the utility.
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Most likely, yeah. And governments already started accumulating bitcoin after realizing that there is no way to stop them from becoming the real so we see reserves and also Russia, India and China seems to be using cryptos for the oil trades due to the sanctions so it's already happening so it will take few more years for other countries to find out the utility.
In the future decades - yeah, it may be the case.
For now, they all see it as a store of value to use.
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In the future decades - yeah, it may be the case.
For now, they all see it as a store of value to use.
That's what Bitcoin is now, it's an asset and a store of value that everyone needs to have for their future plans. If the other countries see this example from the US as a lucrative idea then they are also going to follow. Most of them holds US dollar as their reserve together with gold and that's how they respect each of USA's move and from there, it is just a matter of time until we see them take their respective actions too towards Bitcoin adoption.
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In the future decades - yeah, it may be the case.
For now, they all see it as a store of value to use.
That's what Bitcoin is now, it's an asset and a store of value that everyone needs to have for their future plans. If the other countries see this example from the US as a lucrative idea then they are also going to follow. Most of them holds US dollar as their reserve together with gold and that's how they respect each of USA's move and from there, it is just a matter of time until we see them take their respective actions too towards Bitcoin adoption.
other countries may be skeptical in adopting BTC as strategic reserves, they know Gold is more appropriate in this. and this could be a trap from US since their gold is still in custody by US.
they will be asking what will happen to the gold now if they are going to accept BTC as strategic reserves? will the US government ever return their gold?
until there is no real proof who owns the BTC of satoshi, they are going to be skeptical. if satoshi is a government entity, then that country have the advantage.
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Many people has spoken about how unreliable some politicians may be, but we might have seen and acknowledged the efforts of president Donald Trump, his vocal about bitcoin, and his planned to establish a Bitcoin strategic reserve, and now it has been implemented.
Now, with the strategic reserve implemented in the US, do we expect other nations to follow the US steps? I have a filling that many nations are skeptic of the potential of Bitcoin against Fiats, hence many are not saying any thing or speak out about the benefits of the Bitcoin strategic reserves. There seems to be too many protection against fiat in some countries, probably there may be Bitcoin Dominance factors against many Fiats or may be some political leaders in other parts of the world lact any knowledge of Bitcoin or the blockchain. What do you think?
Well, mate, we all know that El Salvador was the first country who accepted Bitcoin as a national reserve, and after that, the US also accepted it as its national reserve, and if I talk about my country, where Bitcoin was not a legal currency, and now there is a legal bill that has passed in the assembly of Pakistan to legalize it in the country. This happens after America accepted it as their national reserve, and many others will so. Other than that, America has the big capital to invest in the market, so others have to follow their steps.
We have seen recently Russia using crypto for the payment purposes of their international trades, so, its a big positive sign for the crypto space for its future growth.