Recently, there has been a great interest in the US Congress in the idea of adopting Bitcoin as part of the National Strategic Reserve. This idea began to circulate among some members of Congress after they noticed the significant impact of cryptocurrencies on global markets. Bitcoin, as the most important cryptocurrency, began to have an unusual economic weight, which made some politicians believe that it could be a strong alternative to the monetary reserve that they have relied on for many years, such as the dollar.
Congress is trying to find new solutions to confront the record deficit in the US budget. The US government is facing a very big problem in increasing public debt and budget deficit, especially with the increase in government spending on various projects and financial support for individuals and companies in times of crisis. This makes Congress think of innovative solutions such as Bitcoin and cryptocurrencies, which could contribute to reducing dependence on the US dollar.
What makes this idea exciting is that with the increase in the supply of dollars due to the US Federal Reserve's money printing policy, the actual value of the dollar begins to be affected. Inflation began to rise, which made people look for alternatives to preserve the value of their money. Bitcoin, because it is not dependent on the government or central banks, is considered by some to be a safe haven against inflation and rising prices.
However, this idea is not without its challenges. Many experts warn of the risks that could face the US economy if Bitcoin is officially adopted into the national reserve. The high volatility in the value of Bitcoin, and doubts about the market’s acceptance of this idea, are all factors that make this idea not easy to implement. However, the fact that Congress is considering this idea indicates the beginning of major changes in the near future.
Image Source
And you, what do you think ?
Thank You
