{"id":25479,"date":"2024-07-20T10:00:38","date_gmt":"2024-07-20T07:00:38","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25479"},"modified":"2024-07-20T10:08:02","modified_gmt":"2024-07-20T07:08:02","slug":"blocktower-capital-cio-dismisses-us-bitcoin-reserve-as-unlikely","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/blocktower-capital-cio-dismisses-us-bitcoin-reserve-as-unlikely\/","title":{"rendered":"BlockTower Capital CIO Dismisses US Bitcoin Reserve as Unlikely"},"content":{"rendered":"

Although the concept of the United States<\/strong> government maintaining a Bitcoin<\/strong> strategic reserve may be “bullish” for its price, Ari Paul, chief information officer at BlockTower Capital<\/strong>, says it is impractical to really come to pass in the short future.<\/p>\n

“I would lay 10:1 against the US adding Bitcoin as a strategic reserve in the next 4 years<\/em>” Paul<\/strong> said in a July 18 X post. “With that said, plausible to me that Trump could say it, which would be quite bullish for the BTC medium time frame<\/em>” he said. This remark comes among traders pointing out Bitcoin’s difficulty recovering the $65,000 price level as support.<\/p>\n

Paul<\/strong> clarified that it does not mean creating a Bitcoin Strategic Reserve even if the future president says they do not want to liquidate the present Bitcoin holdings of the government. “For what qualifies as a declaration? An off-target comment by Trump? An order of executive privilege?”<\/em> He said, “The US government already regularly steals bitcoin in an ongoing fashion.”<\/em><\/p>\n

A strategic reserve is government-stored resources meant for unforeseen catastrophes or crises. For example, the Strategic Petroleum Reserve maintained by the US government is meant to help to alleviate any problems with oil supplies.<\/p>\n

Paul’s remarks align with social media rumors that, should Donald Trump be re-elected in this year’s election, former US president will declare intentions to make Bitcoin a strategic reserve, maybe at the Bitcoin 2024 conference in Nashville. “Getting more and more confirmations that these speculations might be accurate. Trump is expected to declare a USA Bitcoin strategic reserve in Nashville, said Simon Dixon, creator of BnkToTheFuture, in a July 18 X post.<\/p>\n

“People don’t believe the USA could implement a Bitcoin Strategic Reserve but at this point it is inevitable<\/em>” co-founder Dennis Porter of Satoshi Act Fund said in a post on the same day. Everybody should keep a strategic store of Bitcoin. Your. Your relatives. You company. Your hometown. Your states. Your nation, everyone,” said Michael Goldstein, president of the Satoshi Nakamoto Institute often known as “Bitstein.”<\/p>\n

This conjecture is based on recent remarks made by entrepreneur and investor Mark Cuban on how geopolitical unrest and inflationary pressures might drive Bitcoin to become a worldwide reserve asset.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i>Telegram, <\/span><\/i><\/a>YouTube<\/span><\/i><\/a>, and <\/span><\/i>Twitter<\/span><\/i><\/a> channels for the latest <\/span><\/i>news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Although the concept of the United States government maintaining a Bitcoin strategic reserve may be “bullish” for its price, Ari Paul, chief information officer at BlockTower Capital, says it is impractical to really come to pass in the short future. “I would lay 10:1 against the US adding Bitcoin as a strategic reserve in the<\/p>\n","protected":false},"author":6,"featured_media":25480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1],"tags":[61,7524,2858],"class_list":["post-25479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","tag-bitcoin","tag-blocktower-capital","tag-united-states"],"yoast_head":"\nBlockTower Capital CIO Dismisses US Bitcoin Reserve as Unlikely - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/blocktower-capital-cio-dismisses-us-bitcoin-reserve-as-unlikely\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BlockTower Capital CIO Dismisses US Bitcoin Reserve as Unlikely - 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