Hello everyone, good evening! I hope you are all doing well. Heard some concerning news recently. News regarding Bitcoin being the reserve currency of the United States. Previously, all news agencies made this news that the USA wants to buy Bitcoin as a strategic Bitcoin reserve and use it to pay their debt in the future. I myself wrote a post about how this move will be beneficial for the country and the coin. But recent developments are talking about a more calculated approach regarding this matter. Some negativity is being spread, but all that said, I really hope what I'm saying now becomes false.
Many economists, especially American ones. They're talking about Bitcoin not being able to reach the $500,000 prediction which were predicted by economists in the beginning of this bull run. But now, I don't remember the exact names, there are economists talking about Bitcoin not being a viable option for the USA to make any difference to the world. Many people are arguing about the government not needing Bitcoin in the first place. Well, I also read that this whole Bitcoin act and the strategic Bitcoin reserve may as well get tanked. Unless Donald Trump, after he is officially sworn in as president, we'll actually look into this matter. Some are arguing that the strategic Bitcoin reserve is a useless cash grab. But I really don't think so. As I've discussed earlier, Bitcoin has a very good history of always going up in value, Even though sometimes they are crashes that many wouldn't matter. I personally think that cryptocurrency is the future, and the global financial system also isn't looking at great returns, so at this point, The consistent movement of cryptocurrencies prices can actually make the US's plan to repay its debt.
And I believe this is possible. Because Bitcoin isn't going anywhere so soon. Even though China will be interested to sell a portion of their bitcoins, just to destabilize the market before the US guesses energy ko i klli, All should be good in their own paths as of now. I think BTC will continue to grow for the next few weeks, but after that, it depends on major events such as the USA actually coming through on the bitcoin act.
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