Everything you wanted to know about Bitcoin Strategic Reserve. - page 5.

arwin100

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Quote from: HelliumZ on January 16, 2025, 06:37:25 PM

Quote from: Ambatman on January 16, 2025, 07:43:29 AM

Quote from: 2Pizza410000BTC on January 16, 2025, 02:16:22 AM

Here are eight countries leading the way for Bitcoin strategic reserves and some more countries are looking to join the strategic Bitcoin reserves. Maybe we will soon be able to add a few more countries to the strategic Bitcoin reserves. So we can see how Bitcoin is going to the top of popularity. If countries that once didn't think about investing in Bitcoin are thinking about keeping Bitcoin in their reserves, then we certainly don't have to worry too much about holding Bitcoin.

I feel most of these countries running for the BSR are going to wait for the US before they implement theirs.
Nobody wants to be left out especially when a Giant like the US is considering it.

Well if China doesn't when US does. Then history is going to repeat itself again now Bitcoin rather than Gold.

Yes, this is where China will be positioned differently from the United States. While the US passed the Bitcoin Strategic Reserve Bill, China is still anti-Bitcoin. If America allows Bitcoin freely in all their provinces, China will make strict laws against Bitcoin in their country. However, if America bans Bitcoin, China will see Bitcoin approved.

Actually China still have Bitcoins.

What they only do is they don't allow this coin to be used on any transaction in their country. People are free to hold and invest Bitcoin in that country. Maybe they really want their fiat to have healthy circulation and they don't want any coin including Bitcoin would disturb it.

Chinese leader is so strict on other altcoin especially for ICO's way back before. But for Bitcoin for sure they continue to invest and will not missed out those good development happening in this scene.

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Thank you for posting such an informative piece. Although I am still learning as a newbie, this post will undoubtedly strengthen my knowledge. You have discussed numerous topics here, and it would have taken me a lot of time to learn about each one individually. I feel delighted thinking about how something as small as a "coin" created in 2009 (when I was still in school) has reached such a significant position today. Many people now consider it indispensable, and even governments are evaluating its value for governance purposes.

HelliumZ

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Quote from: Ambatman on January 16, 2025, 07:43:29 AM

Quote from: 2Pizza410000BTC on January 16, 2025, 02:16:22 AM

Here are eight countries leading the way for Bitcoin strategic reserves and some more countries are looking to join the strategic Bitcoin reserves. Maybe we will soon be able to add a few more countries to the strategic Bitcoin reserves. So we can see how Bitcoin is going to the top of popularity. If countries that once didn't think about investing in Bitcoin are thinking about keeping Bitcoin in their reserves, then we certainly don't have to worry too much about holding Bitcoin.

I feel most of these countries running for the BSR are going to wait for the US before they implement theirs.
Nobody wants to be left out especially when a Giant like the US is considering it.

Well if China doesn't when US does. Then history is going to repeat itself again now Bitcoin rather than Gold.

Yes, this is where China will be positioned differently from the United States. While the US passed the Bitcoin Strategic Reserve Bill, China is still anti-Bitcoin. If America allows Bitcoin freely in all their provinces, China will make strict laws against Bitcoin in their country. However, if America bans Bitcoin, China will see Bitcoin approved.

Powerjumboo

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JUST IN: New York Times reports there is "real political momentum" behind Donald Trump's Strategic #Bitcoin Reserve 🇺🇸

https://x.com/BitcoinMagazine/status/1880008202571616662?t=WIp486HB5NBteQ1otJ3Gxg&s=19

justdimin

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Quote from: avp2306 on January 15, 2025, 08:31:02 AM

I guess they just know how to secure their wallet and everything should be fine at their ends. Remember that its not easy to hack Bitcoin and those cases usually happen if the person handle the wallet is lazy or not paying attention to much on how they secure their wallets. But since they are big institution so for sure that they know how to secure their wallet and also for sure they have experts that will work on their side so that everything not only safe but also they are doing good on each decision they made on their investment plan on Bitcoin.

Good to see that more country are announcing that they are considering to have Bitcoin reserve and I guess other country would is just waiting for US to make everything official then other more country will also do the same.

When there is a good situation at the end, governments won't really do anything at all. This isn't really a big deal because we are talking about a person here, we are talking about a whole nation and that's the most important thing.

As long as we have that, there won't be anything wrong afterwards, it will stay the way it is. This isn't really considered security risk that much, unless you are a super corrupt government, which does exist but even most of them, then there is no reason for your bitcoin to be hacked or stolen. Sure people could, because people are stupid, and we could make mistakes, but at the end of the day we made it super exciting and could result with a lot more in the end. We should not fear governments getting hacked.

SuperBitMan

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In December 2024 a member of the legislative council in Hong Kong proposed having Bitcoin reserve in other to Foster financial stability in Hong Kong, he highlighted how El Salvador has already started a Bitcoin reserve and how they will benefit massively.
The Hong Kong government is still considering it and looking at the advantage and it's disadvantage, hopefully they will adopt that idea introduced to them.

https://twitter.com/Vivek4real_/status/1879506773897539951?t=t06_R4emg_7eKQ13xP0Sng&s=19

Popkon6

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NEW: 🇨🇦 Goodfood Market Corp. establishes a Bitcoin strategic reserve, initiating with a 💵 $1M investment through a spot ETF and planning to strategically increase holdings.

https://x.com/BitcoinNewsCom/status/1879966858440569284?t=r6guzP9mewAiSsqPuE_kbw&s=19

I think if they deposit more Bitcoin in the future they will definitely be successful, they have already invested in Bitcoin and are planning to buy Bitcoin again.
This is definitely a very good and advanced idea that will attract unique people to invest in Bitcoin.

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Quote from: fillippone on December 09, 2024, 05:49:56 PM

Several countries have either established or are considering the creation of strategic Bitcoin reserves:

Amongst the established Bitcoin Reserves:

El Salvador: In September 2021, El Salvador became the first country to adopt Bitcoin as a legal tender. Since then, the Government has accumulated approximately 5,940 bitcoins, valued at around $582 million as of November 2024. They perform both open market purchases (they are buying one bitcoin per day since) and mining operations.
Bhutan: The Kingdom of Bhutan has been mining Bitcoin using its hydroelectric resources since 2019. More info can be read here : Bhutan Built A Bitcoin Mine On The Site Of Its Failed' Education City.
As of November 2024, Bhutan holds about 12,211 bitcoins worth over $1 billion.
Contrary to other nations, Bhutan has been quite active in the market, regularly selling the Bitcoin they mined

Some other nations have proposed to instate a domestic SBR:

Brazil: In November 2024, Brazilian Congressman Eros Biondini, a Brazilian Congressman, proposed a bill to create a Sovereign Strategic Reserve of Bitcoins (RESBit). The proposal involved buying Bitcoin up to 5% of Brazil's international reserves. The initiative seeks to reduce the fluctuation of Brazilian real estate in order to protect the economy and develop resilience.
Poland: Presidential candidate Sławomir Mentzen has advocated for the establishment of a strategic Bitcoin reserve, along with implementing crypto-friendly regulations to attract investment and increase financial flexibility.
https://talkimg.com/images/2024/12/09/p5aUZ.png
Russia: Anton Tkachev has proposed accumulating cryptocurrencies in the state treasury, viewing digital assets as potential alternatives to the US dollar in international transactions and tackling the sanctions. Russia has been a heavy gold buyer during the last few years.
Russian Lawmaker Proposes Creating Strategic Bitcoin Reserve: Report

I think more countries are starting to see Bitcoin as a legitimate asset. El Salvador took the first big step by adopting Bitcoin as legal tender in 2021, they holding maybe around 5,820 more or less BTC. beside we see Bhutan has also jumped on the bandwagon, mining Bitcoin with its clean energy that accumulating more than 12,000 BTC so far. Countries like Brazil, Poland, and Russia are try to exploring and how they could use Bitcoin to strengthen their financial systems. For example, Brazil is even thinking about adding Bitcoin to their reserves to help stabilize their economy. On the otherside Russia views Bitcoin as a way to fight sanctions and reduce dependence on the dollar.
I think it’s clear Bitcoin is no longer just a speculative investment. It’s becoming a key piece of the financial puzzle for nations. Who knows? More countries might follow suit soon.

Ruttoshi

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Quote from: 2Pizza410000BTC on January 15, 2025, 08:18:07 AM

Quote

BREAKING: Malaysia’s PM says our central bank and treasury should study Bitcoin and crypto so we aren't left behind.

Source: https://x.com/BitcoinMagazine/status/1879480966315647295?t=8LjXXRbDHgHUX8SW0yNptA&s=19

With the popularity of Bitcoin, almost all countries are now considering keeping their reserves in Bitcoin. There was a time when banks and governments of various countries considered Bitcoin as a very risky asset, but now all those countries are accepting Bitcoin as their reserves. The Malaysian government has directly said that they should not hesitate to buy Bitcoin.

More countries are also following the trend of using bitcoin as the country reserve. Prince Flip of Serbia said that they're also goin have a bitcoin strategic reserve for the country. Bitcoin is now the savior to many state government treasure as they are happily believing that bitcoin is a store of value against future inflation. I am happy to be part of this forum because I have also being accumulating bitcoin and will continue because soonest almost half of the countries in the world will have bitcoin reserve. The popularity of bitcoin keeps is increasing as more countries are believing and trusting bitcoin.
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Ambatman

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https://coingape.com/donald-trump-open-having-xrp-solana-usdc-strategic-reserves/.

What are your thoughts on this? I guess bloggers are just been bloggers.
The question then pops in my head
What's the essence of a SR if they going to include shitcoins from US.

fillippone

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Quote from: LoyceV on January 16, 2025, 03:50:45 AM

Quote from: fillippone on January 15, 2025, 04:18:49 PM

This news has been widely debated over the Italian media, and I guess your read is not correct.
They tested a Bitcoin purchase to test their system as more and more clients are asking them for exposure to this asset class.

"Testing" with a million euro? Haven't they heard of testnet? Lol.
What could they possibly test with a million euro that they couldn't test with a fraction of a Bitcoin?

Very true.
I think it is not a literal TEST.
They have for sure done a Testnet trade, some smaller amount trades, and this is the first proper “real” buy.
I guess even if Bitcoin crashes to zero, the one million loss would be negligible in the Banca Intesa balance sheet.
Let’s say the CEO stated it is a start…

Ambatman

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Quote from: 2Pizza410000BTC on January 16, 2025, 02:16:22 AM

Here are eight countries leading the way for Bitcoin strategic reserves and some more countries are looking to join the strategic Bitcoin reserves. Maybe we will soon be able to add a few more countries to the strategic Bitcoin reserves. So we can see how Bitcoin is going to the top of popularity. If countries that once didn't think about investing in Bitcoin are thinking about keeping Bitcoin in their reserves, then we certainly don't have to worry too much about holding Bitcoin.

I feel most of these countries running for the BSR are going to wait for the US before they implement theirs.
Nobody wants to be left out especially when a Giant like the US is considering it.

Well if China doesn't when US does. Then history is going to repeat itself again now Bitcoin rather than Gold.

Zlantann

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Quote from: LoyceV on January 16, 2025, 06:44:18 AM

Quote from: Zlantann on January 16, 2025, 06:27:50 AM

I think there are pressures from bank customers for banks to embrace Bitcoin as an investment.

It sounds like the bank wants to earn from people's Bitcoin holdings. I'm not handing over my Bitcoin to my bank!

You are correct. Banks are targeting to make more money from the industry. There is also speculation that Trump might announce an executive order that allows banks to treat cryptocurrencies as assets in their balance sheet contrary to the present law that sees them as liabilities. This means Banks in the US will be allowed to hold Bitcoin and other cryptocurrencies for clients. So much news flying everywhere about the proposed 100 executive orders that will be signed by Trump in his first day in office. I am not also going to keep my Bitcoin in banks regardless of how the law changes.

LoyceV

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Quote from: Zlantann on January 16, 2025, 06:27:50 AM

I think there are pressures from bank customers for banks to embrace Bitcoin as an investment.

It sounds like the bank wants to earn from people's Bitcoin holdings. I'm not handing over my Bitcoin to my bank!

Zlantann

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Quote from: 2Pizza410000BTC on January 16, 2025, 02:16:22 AM

Here are eight countries leading the way for Bitcoin strategic reserves and some more countries are looking to join the strategic Bitcoin reserves. Maybe we will soon be able to add a few more countries to the strategic Bitcoin reserves. So we can see how Bitcoin is going to the top of popularity. If countries that once didn't think about investing in Bitcoin are thinking about keeping Bitcoin in their reserves, then we certainly don't have to worry too much about holding Bitcoin.

The numbers in the list will increase immediately after the US finally sets up a Bitcoin reserve. Many countries and states are just waiting and observing the new government policy direction after the inauguration. FOMO is spreading around the US and the globe like wildfire because nobody wants to be left behind.

Quote from: fillippone on January 15, 2025, 04:18:49 PM

This news has been widely debated over the Italian media, and I guess your read is not correct.
They tested a Bitcoin purchase to test their system as more and more clients are asking them for exposure to this asset class.
No strategic reserve is involved for the moment. Also, with 1 million is very difficult to preserve a banking capital.

An official in my local bank confided in me that there is a proposal from all the banks which will be submitted to the Central Bank. They want the apex bank to consider allowing them to keep Bitcoin. I don't know how far this proposal will go. I think there are pressures from bank customers for banks to embrace Bitcoin as an investment.

LoyceV

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Quote from: fillippone on January 15, 2025, 04:18:49 PM

This news has been widely debated over the Italian media, and I guess your read is not correct.
They tested a Bitcoin purchase to test their system as more and more clients are asking them for exposure to this asset class.

"Testing" with a million euro? Haven't they heard of testnet? Lol.
What could they possibly test with a million euro that they couldn't test with a fraction of a Bitcoin?

Quote from: As-Soon-As on January 16, 2025, 02:03:32 AM

~ study how Malaysia can explore this so we aren't left behind” on bitcoin

It sounds like FOMO has reached country-levels.

2Pizza410000BTC

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Quote

UPDATE: A total of 8 states are leading the charge to push a Strategic #Bitcoin Reserve Bill.

🔸Florida
🔸Alabama
🔸New Hampshire
🔸Pennsylvania
🔸Ohio
🔸North Dakota
🔸Oklahoma
🔸Texas
Witnessing history in the making!

https://x.com/Cointelegraph/status/1879729035502031071?t=7eQ-6O01GXG-plSR-ceK0w&s=19

Here are eight countries leading the way for Bitcoin strategic reserves and some more countries are looking to join the strategic Bitcoin reserves. Maybe we will soon be able to add a few more countries to the strategic Bitcoin reserves. So we can see how Bitcoin is going to the top of popularity. If countries that once didn't think about investing in Bitcoin are thinking about keeping Bitcoin in their reserves, then we certainly don't have to worry too much about holding Bitcoin.

As-Soon-As

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₿REAKING: Malaysia’s Prime Minister says, “I proposed how our agencies, including security, treasury and Bank Negara study how Malaysia can explore this so we aren't left behind” on bitcoin 🇲🇾

Source and Video: https://x.com/DocumentingBTC/status/1879550589493027311?t=5SBxm4IErdU9l-roA1M1Kw&s=19

The Malaysian Prime Minister also commented on creating a razor about Bitcoin, because although they are quite ahead in terms of economy, they are lagging behind in terms of Bitcoin, so they have enough morale to move forward in terms of Bitcoin. If they deposit Bitcoin safely, they will definitely be able to move forward economically and far beyond Bitcoin.
Because in the current world, every country has some or the other Bitcoin reserves, so I think it is most important for those who are still deprived of reserves to create a Bitcoin reserve. And those of us who are personally reserving Bitcoin need to be more aware to hold it tightly in the future.

LDL

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Quote from: PremiumcryptoHub on January 15, 2025, 01:54:50 PM

Quote from: 2Pizza410000BTC on January 15, 2025, 08:18:07 AM

With the popularity of Bitcoin, almost all countries are now considering keeping their reserves in Bitcoin. There was a time when banks and governments of various countries considered Bitcoin as a very risky asset, but now all those countries are accepting Bitcoin as their reserves. The Malaysian government has directly said that they should not hesitate to buy Bitcoin.

With the rise in popularity of Bitcoin, most countries are now considering holding Bitcoin reserves. We have seen this year that various countries and companies are considering Bitcoin reserves which is definitely an important step for them. When different countries and banks in different countries considered Bitcoin as a risky asset they were completely wrong. Now they have started to understand about the success of Bitcoin investment for which they have now taken important steps i.e they are now starting to properly understand the potential of Bitcoin.

Now the US state of Oklahoma is also considering a Bitcoin reserve.

On January 15, 2025, Oklahoma passed a bill reserving a portion of citizens' hard-earned money in Bitcoin. An image of the bill notice is shared here. The image is collected from a well-known magazine called Cointelegram.

The people of Oklahoma believe that Bitcoin is a decentralized currency that no government agency or third party can control, making it a safer preserve for the public.
Cody Maynard, the Oklahoma representative for the Bitcoin Reserve bill, believes that the Bitcoin Reserve Act treats the public's free reserves as safe reserves. He also believes that storing the hard-earned money of the people of Oklahoma in Bitcoin would definitely be considered safe.

Bitcoin has had a positive impact with the passage of Oklahoma's Bitcoin Reserve Bill, which has seen Bitcoin rise from $90,000 to $100K. Moreover, this Oklahoma bill reserve side will generate a significant interest in Bitcoin in neighboring states and their delegations will certainly express interest in presenting a Bitcoin reserve bill.

Sim_card

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Quote

Texas Senator Charles Schwertner files bill to create a Strategic #Bitcoin Reserve in Texas.

Bitcoin is winning... I believe all the states in the US will all have their Bitcoin reserve because Oklahoma State Rep Cody Maynard introduced a bill to create state bitcoin reserve and few hours later, the Senator of Texas Charles Schwertner has filed a bill to create a Bitcoin Strategy Reserve. I am waiting to see which state will be next. Government in the beginning criticized bitcoin as a scam but currently, bitcoin have proven them wrong and they are seeing bitcoin as the future because they don't want to miss out but join the moving train. If you don't have any bitcoin start buying now and don't regret it in future.

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