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    Author Topic: ‘No to CBDC, yes to Bitcoin’ — European MP calls for EU BTC reserve  (Read 536 times)
    fuguebtc
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    December 19, 2024, 04:07:51 AM
     #21

    United States president elect Donald Trump started this. Some countries are showing signs that they may follow or may even begin
    bitcoin strategic reserve before United States. This is coming from an European Union lawmaker.

    If United States adopt bitcoin as a strategic reserve, many countries will definitely follow. You know what that means, creating the way of possibility that bitcoin getting to $1 million one day is possible.
    United States are going to do this with smart administration of the President Elect Donald Trump. It's about one more month till his inauguration day and he will kick it off very soon.

    It seems that Trump's idea of ​​making bitcoin a national reserve will face many challenges and difficulties   . At the recent Fed meeting, Chairman Powell stated that the  Fed has no right and no intention to hold bitcoin because this would go against the policy of maintaining stability and protecting the stability of the traditional system. He also stressed that he has no plans to seek changes or push for changes to existing regulations to give the Fed the power to hold bitcoin.  And as far as I know ,  the Fed holds the national reserves, not the US government .
    Perhaps this statement from the  Fed is the reason for the market correction today .



    European Union and ECB have more complicated structures so that they will need more time to make it happens, if they want to buy bitcoin for ECB reserve. An individual, a single country have more convenient to do policies they want, but as a European Union with many countries engaged, it will be more complex to change policy and to execute a new policy.

    It's good news certainly.

    But if the United States succeeds in making bitcoin a national reserve currency, the rest of the world will quickly follow suit, including the European Union. Like when the United States left the gold standard and the whole world had to follow suit.


    https://www.reuters.com/technology/fed-cant-hold-bitcoin-not-seeking-change-that-powell-says-2024-12-18/

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