How will other nations respond to US Bitcoin reserve proposal?

Dr.Bitcoin_Strange

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Quote from: RockBell on December 12, 2024, 04:29:34 PM

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So we all just have to make does choices of not missing this chance so it is better to start holding now than thinking of holding later buy and hold.

Already there have been speculation of how Bitcoin will get to $200k+ before the next two years and if line fall in place that all of these large adopt of Bitcoin by the government has taken place, Bitcoin will sky rocket and some people will regret not buying now. At least with these recent price fluctuations, I have managed to increase my holding and I will hold till $500k

imjeybi1208

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Quote from: ? on December 12, 2024, 06:26:43 AM

Quote from: shield132 on December 12, 2024, 06:14:27 AM

Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

Anyways, this is just my imagination

The USA will start investing in Bitcoin and will build strategic Bitcoin reserves. Russia will do the same because Putin talked about Bitcoin and how it's impossible to ban Bitcoin. Since their USD reserves got frozen by the US abroad, their best bet is to build a Bitcoin reserves, it will be untouchable by the US or any other foreign company.
So, if the USA and Russia build Bitcoin reserves, then there are other countries like the UK, Germany, France, Italy, Switzerland and others who will join them because these are the countries that want to be powerful.

I believe that this is the moment when there will be a massive Bitcoin adoption, it will become a strategic reserve of the most powerful nations and probably, many countries will join them.

It's a long road ahead of us, so we may think it will be that way, and on the other day, politicians would say things differently.
Let's wait for a year or so to see where Donald is going for real.

You're absolutely right—it’s a long road, and it’s tough to predict how things will unfold. Politicians often have a way of saying one thing and doing another, which makes it even harder to gauge their true direction. Waiting it out and observing how Donald’s actions align with his words over the next year seems like the best approach. Actions always speak louder than promises, don’t they?

What do you think we should be paying attention to over the next year? Do you think his decisions so far hint at where he’s really headed, or is it still too early to tell?

BITCOIN4X

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It is logical to think that other countries will follow the steps of the United States government in making bitcoin their reserve asset. It seems to me that it is a smart move for every country instead of rejecting bitcoin for various reasons, but if this happens then I think the annual rate of return from bitcoin will probably decrease.

Bitcoin's price volatility will probably be lower if more countries use it as a reserve asset, but for me this will not be an idea that will be easily realized. The US government may need to think about many things and consider the risks too, of course there will be a significant impact if this is actually realized.

RockBell

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I do believe that other countries would want to adopt such idea too, owning to the fact that Bitcoin have seen a great price movement and it's still speculated that the price is going to reach $500k sooner or later which is even the reason that some countries would want to adopt it.

If you look at USA they are countries that a lot look up to so any decision they are making will make some of this countries pick intrest in following the footsteps of USA and that is why if anything should happen you will see its effect on bitcoin immediately starting from the period of election not have been the same ever since, the price is either going up or coming down but still within the range of 100k and this is one prediction that have been around the corner now for a very long time.

And I love how they are trying to consider making bitcoin there reserve currency and there is going to be a question mark in thay decision, because am not sure that all senetors will agree to that because when you look at it from both side, both parties will benefits, the price of bitcoin will increase and also people will make profit and another important thing is that will bitcoin be acceptable and the dollar is either going up or even coming down it's any of the two.

So we all just have to make does choices of not missing this chance so it is better to start holding now than thinking of holding later buy and hold.

Antotena

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Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

Anyways, this is just my imagination

I don't want to sound like I don't see the future of Bitcoin but I really hope we are not been played about this Bitcoin reserve. Germany had Donald Trump loud and clear about making Bitcoin as US reserve in his campaign and those motherfuckers went ahead to dump their Bitcoin on the market regardless, what's is it that we don't know, US also moves some Bitcoin to the market, isn't that concerning or it's just a political thing politicians do that has happened again.

Time will tell by the special grace of God but I'm not move by this reserve Bitcoin thing, there is difference between monetary policy and fiscal policy, one is for government to make and the other one is for CBN to make and unless it's Donald Trump gave that position of CBN to his friend, it will be difficult to implement. What if senators doesn't support the bill, what is going to happen, we will soon find out by next year hopefully.

coolcoinz

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First of all, I don't think that the president alone can make such changes. Even if that project gets enough backing, it could be years before they actually start buying.

IMO people are making a big deal out of nothing, possibly because of greed. Calm down people and watch it unfold. IMO this is important news, but you're discussing something that might happen in a few years. With how things are going around the world we might be in, or after another major conflict by then. That's something you should worry about, not whether Trump keeps his word or not, because he can always blame it on red tape and say he tried.

Jegileman

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Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

Anyways, this is just my imagination

The United States of America is already seen by many countries to be their stronghold country and the one they will always want to follow in their footsteps before making any decision especially as it has to do with financial stability and investment. A lot of countries are going to follow in the direction of bitcoin and they will also have a lot of influence in smaller countries that are looking up to them more. This is a beginning of big changes for bitcoin and with this brave and innovative move by Donald Trump, we will see bitcoin as a more sustainable currency and alternate to the fiat current in the near future.

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Quote from: Stablexcoin on December 12, 2024, 02:39:15 PM

Quote from: Odohu on December 12, 2024, 01:04:45 AM

If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

When the US made the announcement on allocating part of their treasury into Bitcoin for a long period no nation responded to it. Trust me when I say most nations still do not believe in Bitcoin, regardless of the news surrounding it and the interest of the Americans some nations would rather sit and watch everything play out. And one good reason they will remain adamant is that they don't have the same economic strength as the US in terms of finance to the US is far above them. Only countries with valued currency can stand to buy Bitocin without any melting down of the economy.

Other nations aren't always as transparent as the United States on certain issues. It is quite possible that many nations already have clandestine Bitcoin stacking operations. It would almost be foolish not to. Only the United States is so massive with so much economic power that they don't need to resort to stacking in secret. They can just print as much as they want to buy as much as they want and not care about the market effects. I'd guess there are probably a couple dozen nations already stacking BTC. I am personally aware of executives at the largest companies in the world who have been stacking for many years. For example, it is only a matter of time before Apple embraces Bitcoin...

Stablexcoin

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Quote from: Odohu on December 12, 2024, 01:04:45 AM

If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

When the US made the announcement on allocating part of their treasury into Bitcoin for a long period no nation responded to it. Trust me when I say most nations still do not believe in Bitcoin, regardless of the news surrounding it and the interest of the Americans some nations would rather sit and watch everything play out. And one good reason they will remain adamant is that they don't have the same economic strength as the US in terms of finance to the US is far above them. Only countries with valued currency can stand to buy Bitocin without any melting down of the economy.

fuguebtc

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Quote from: AbuBhakar on December 12, 2024, 10:50:01 AM

If this really materialized then other country will watch closely on the result since it will need some time in able to check the outcome. The question here is whether US is willing to become trial version country for this kind of risky move?

I’m sure many country will follow if this proposal is proven effective. I’m more concerned if this proposal will be accepted rather thinking on what will be the move of other country.

If the United States officially makes bitcoin a national reserve, other countries will quickly propose and adopt this idea to catch up with the United States. They won't wait or spend time monitoring results before making a decision because the United States is not El Salvador or any other country. They are the world leaders, the world economy depends on them and they are the ones who decide the fate of the economy. So whatever ideas they come up with will be recognized by the world regardless of whether other countries like it or not.

Do you remember who came up with the idea of abolishing the gold standard and forcing the world to use USD? The power and influence of the United States is much greater than many people think and they can do anything as long as they think it is right.

Wind_FURY

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It currently has become easier for many people in BitcoinTalk to "imagine" a Bitcoin "accumulation race" between Nation-States now that Trump has shown a sort of fervor to make the United States the leading nation in cryptocurrency. I believe the next race will be a Bitcoin hashing power race. Cool

Plus Bitcoin's "features" as an asset that can weaken/undermine, political strongholds will be understood more during this cycle as well.

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Quote from: AbuBhakar on December 12, 2024, 10:50:01 AM

Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

Anyways, this is just my imagination

If this really materialized then other country will watch closely on the result since it will need some time in able to check the outcome. The question here is whether US is willing to become trial version country for this kind of risky move?

I’m sure many country will follow if this proposal is proven effective. I’m more concerned if this proposal will be accepted rather thinking on what will be the move of other country.

There will be a few other scenarios that could happen but most probably other countries will not wait for the 200K BTC to be bought by the Trump admin, other countries will be buying. I think they are even buying now as Trump planned it yet.

Other countries will be seizing BTCs from the crypto businesses in the country. They will start accusing the local exchanges and the wallets most probably. Grin

Maybe extort the CEOs, 3rd world countries are known to have done crazier stuff.

AbuBhakar

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Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

Anyways, this is just my imagination

If this really materialized then other country will watch closely on the result since it will need some time in able to check the outcome. The question here is whether US is willing to become trial version country for this kind of risky move?

I’m sure many country will follow if this proposal is proven effective. I’m more concerned if this proposal will be accepted rather thinking on what will be the move of other country.

Alpha Marine

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Quote from: Odohu on December 12, 2024, 01:04:45 AM

Imagine what this will do to the price of a Bitcoin.

This is something that might make Bitcoin get to a million dollars as many people speculate. When a country like the US decides to have a bitcoin reserve other countries will certainly follow. Even if there wont be a buying war, the fact that other countries are trusting bitcoin enough to have a reserve will further increase the demand for bitcoin and this will make the price to sky rocket.

I don't think people should be scared that the countries will buy off all of the bitcoin. When bitcoin price become that high , countries wont be able to buy as much as they want to now. If the US want t buy 5 million bitcoin today, they wont be able to buy 5 million btc when the price of a bitcoin is $1 million.

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Quote from: Pi-network314159 on December 12, 2024, 06:32:08 AM

Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

Anyways, this is just my imagination

One good characteristic of Bitcoin growth Ia scarcity. For bitcoin to increase rapidly, it must gain attention /recorgnition and adoption. When bitcoin is fully adopted by many investors expecially the HODLers who store bitcoin for a longer time, Then bitcoin will fully unleash it's mission. I believe other countries will adopt bitcoin fully if Trump start to execute his plan and this is a great vision for bitcoin.

It will change the landscape in the space for sure - but for now, it's all words and promises.
But as I see - many countries, cities, and organizations are doing something with BTC.
Which is great, to say the least.

Pi-network314159

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Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

Anyways, this is just my imagination

One good characteristic of Bitcoin growth Ia scarcity. For bitcoin to increase rapidly, it must gain attention /recorgnition and adoption. When bitcoin is fully adopted by many investors expecially the HODLers who store bitcoin for a longer time, Then bitcoin will fully unleash it's mission. I believe other countries will adopt bitcoin fully if Trump start to execute his plan and this is a great vision for bitcoin.

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Quote from: shield132 on December 12, 2024, 06:14:27 AM

Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

Anyways, this is just my imagination

The USA will start investing in Bitcoin and will build strategic Bitcoin reserves. Russia will do the same because Putin talked about Bitcoin and how it's impossible to ban Bitcoin. Since their USD reserves got frozen by the US abroad, their best bet is to build a Bitcoin reserves, it will be untouchable by the US or any other foreign company.
So, if the USA and Russia build Bitcoin reserves, then there are other countries like the UK, Germany, France, Italy, Switzerland and others who will join them because these are the countries that want to be powerful.

I believe that this is the moment when there will be a massive Bitcoin adoption, it will become a strategic reserve of the most powerful nations and probably, many countries will join them.

It's a long road ahead of us, so we may think it will be that way, and on the other day, politicians would say things differently.
Let's wait for a year or so to see where Donald is going for real.

FortuneFollower

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Quote from: Mia Chloe on December 12, 2024, 06:16:04 AM

No country or government actually wants to be left out so if some major world countries like the US begin to take big moves concerning bitcoin hodling then there is actually a high chance that many other countries would take up the challenge too. We've actually seen cases. Where some countries sold off thousands of bitcoin hodling that they likely seized and as a result it didn't seem much like a big deal to them.

The truth is if countries like this actually bought those coins rather than seizing them then they would be more strategic when it comes to going into massive profits before attempting to sell off. It's just a matter of time I guess the picture will get clearer too.

Everybody chooses his own way with crypto and BTC.
Some push for CBDC, some - for BTC, but I think the US is on the right path in that regard.
By the end of the term of Trump, we should see BTC in a better position globally.

Mia Chloe

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No country or government actually wants to be left out so if some major world countries like the US begin to take big moves concerning bitcoin hodling then there is actually a high chance that many other countries would take up the challenge too. We've actually seen cases. Where some countries sold off thousands of bitcoin hodling that they likely seized and as a result it didn't seem much like a big deal to them.

The truth is if countries like this actually bought those coins rather than seizing them then they would be more strategic when it comes to going into massive profits before attempting to sell off. It's just a matter of time I guess the picture will get clearer too.

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Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

Anyways, this is just my imagination

The USA will start investing in Bitcoin and will build strategic Bitcoin reserves. Russia will do the same because Putin talked about Bitcoin and how it's impossible to ban Bitcoin. Since their USD reserves got frozen by the US abroad, their best bet is to build a Bitcoin reserves, it will be untouchable by the US or any other foreign company.
So, if the USA and Russia build Bitcoin reserves, then there are other countries like the UK, Germany, France, Italy, Switzerland and others who will join them because these are the countries that want to be powerful.

I believe that this is the moment when there will be a massive Bitcoin adoption, it will become a strategic reserve of the most powerful nations and probably, many countries will join them.

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Quote from: pakhitheboss on December 12, 2024, 05:22:03 AM

Quote from: NotATether on December 12, 2024, 02:44:26 AM

China looks like the only one stubbornly dragging its feet on this.

China is not being stubborn; rather, it is strategic in its approach to cryptocurrencies. The government does not want Bitcoin or altcoins to operate within the mainland. Instead, they aim to position Hong Kong as a major hub for cryptocurrencies, allowing these assets to thrive outside of the mainland. The Chinese government is also heavily investing in its Central Bank Digital Currency (CBDC), aiming for it to become the dominant currency, rather than allowing cryptocurrencies to take hold in the mainland.

Their ambition is to strengthen the Yuan so that it becomes more powerful than the USD, and they are gradually achieving this through initiatives aimed at de-dollarization. At the same time, they are embracing Bitcoin adoption by using Hong Kong as a base for various developments. They have now granted licenses to all banks to facilitate cryptocurrency and Bitcoin trading. In essence, they have already begun to reserve Bitcoin through the Hong Kong banking system, while the US continues to deliberate on the matter.

This.
Agreed with your take - they try to make their own way out and use CBDC for that matter.
Because of course they would - they want to be an example to follow themselves.

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Quote from: NotATether on December 12, 2024, 02:44:26 AM

China looks like the only one stubbornly dragging its feet on this.

China is not being stubborn; rather, it is strategic in its approach to cryptocurrencies. The government does not want Bitcoin or altcoins to operate within the mainland. Instead, they aim to position Hong Kong as a major hub for cryptocurrencies, allowing these assets to thrive outside of the mainland. The Chinese government is also heavily investing in its Central Bank Digital Currency (CBDC), aiming for it to become the dominant currency, rather than allowing cryptocurrencies to take hold in the mainland.

Their ambition is to strengthen the Yuan so that it becomes more powerful than the USD, and they are gradually achieving this through initiatives aimed at de-dollarization. At the same time, they are embracing Bitcoin adoption by using Hong Kong as a base for various developments. They have now granted licenses to all banks to facilitate cryptocurrency and Bitcoin trading. In essence, they have already begun to reserve Bitcoin through the Hong Kong banking system, while the US continues to deliberate on the matter.

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Quote from: Rruchi man on December 12, 2024, 04:28:00 AM

Quote from: Odohu on December 12, 2024, 01:04:45 AM

~

The influence of the United States on other countries is real. Many countries are also not very innovative in their approach to the challenges that they have and will usually prefer to copy the solutions or methods used in tackling these problems that countries like the United States and other big world players use. Countries that depend on the United States for ideas and approaches to challenges will certainly be copying the move by the United States.

Some will try to do their own thing, others - will just copy what already works.
That's in our nature: not only with crypto and adoption but with the adoption of everything else.
Hopefully, it will be done mostly successfully.

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Quote from: $weetne$$ on December 12, 2024, 04:58:46 AM

I do not like this idea of the government having a say on how the price of Bitcoin is going to be moving because I think when the US government begins to buy and other governments follows which is what is going to happen, they will begin to want to control the market and since they can not control the supply and demand directly, they will want to use news and policy to continue the market. The government getting involved very actively in Bitcoin is not going to be good for the market and that is why I wished the government let go and focus on other aspects to let the market grow genuinely without any input from them. The proposal is a good one but we should not only look at the advantage but also the disadvantages so we do not lose the independence that we have with investing in Bitcoin.

I want to tell you: we can only discuss and see how things go, we have no right or way to stop if the government wants to do that with bitcoin. So let's not discuss and worry about what we cannot change, instead, let's adapt to that change.

I believe everyone knows the disadvantages that governments can cause to bitcoin but most understand that there is no way to stop governments from doing so. That is why you will not see anyone talking about the disadvantages but only focusing on the advantages it can bring.

Similar to you, do you have any suggestions to stop the government from intervening and buying bitcoin? So let's look on the bright side and make the most of what we can to get the benefit.

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Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

People have been thinking and asking questions, I am certain that Trump did not think this through before he pronounced it. He was desperate to win an election and indeed the people believed him and the market reacted in that direction. This may not be true when the real implementation starts and a single discouragement from Trump will have an adverse effect on the market. It has always been!

But note that if the US can do this successfully, other nations will follow, however, I don't see how that will add to the USA or USD, if not subtracts. This means that Trump has "shot his country in the leg." Grin

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Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

I do not like this idea of the government having a say on how the price of Bitcoin is going to be moving because I think when the US government begins to buy and other governments follows which is what is going to happen, they will begin to want to control the market and since they can not control the supply and demand directly, they will want to use news and policy to continue the market. The government getting involved very actively in Bitcoin is not going to be good for the market and that is why I wished the government let go and focus on other aspects to let the market grow genuinely without any input from them. The proposal is a good one but we should not only look at the advantage but also the disadvantages so we do not lose the independence that we have with investing in Bitcoin.

Rruchi man

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Quote from: Odohu on December 12, 2024, 01:04:45 AM

~

The influence of the United States on other countries is real. Many countries are also not very innovative in their approach to the challenges that they have and will usually prefer to copy the solutions or methods used in tackling these problems that countries like the United States and other big world players use. Countries that depend on the United States for ideas and approaches to challenges will certainly be copying the move by the United States.

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Quote from: Helena Yu on December 12, 2024, 04:00:42 AM

Only ignorant people who think it will not affect other countries.

Anything that the US doing, other countries will follow. If the US officially accept Bitcoin as their reserve, the other country will do same. It will be the beginning to mass adoption, anyone especially government will hold Bitcoin as much as they can.

We might not see bear season once government hold the most.

We might see further down the line, but the bear will come anyway.
It may be halted, but it may never be stopped. Just like the bull.

Taskford

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Quote from: Odohu on December 12, 2024, 01:04:45 AM

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

Anyways, this is just my imagination

I think No, Bitcoin is somehow new to world leaders and also they might find it so risky due to its volatile nature plus this coin is commonly related to some illegal activities online which adds up the discouragement to adapt it legally.

But for sure that once they already see that more countries are becoming successful with their adaption or adding it to their reserve then there's huge chance that the number of countries will make this happen will grow.

So lets see on what US will do next year since for sure that their influence will gather a lot more attention also a deciding factor for some country to follow what they do.

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Quote from: Oshosondy on December 12, 2024, 01:11:13 AM

We have discussed about this time and times over on this forum. Yes it is true that if United States adopts bitcoin as a strategic reserve, other countries will consider to do the same. Even I read or we discussed about another country recently which is having the same plan. Also a state in United States like New York is having such a plan. Most countries like to follow what United States do so many countries will start buying bitcoin to their reserves.

Vancouver, as I remember, is also on it.
So, yep - the US will become and example to follow surely.
To a different degree, with different ideas - but it would be a precedent.

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Quote from: NotATether on December 12, 2024, 02:44:26 AM

There are surely going to be many countries who will want to copy the USA's model of a Bitcoin reserve (El Salvador too). And even the ones who don't will go through some measures to at least legalize it.

China looks like the only one stubbornly dragging its feet on this.

China is for its own thing.
They want to control things and not let them flow like they should.

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Only ignorant people who think it will not affect other countries.

Anything that the US doing, other countries will follow. If the US officially accept Bitcoin as their reserve, the other country will do same. It will be the beginning to mass adoption, anyone especially government will hold Bitcoin as much as they can.

We might not see bear season once government hold the most.

NotATether

legendary

Activity: 1568

Merit: 6660

bitcoincleanup.com / bitmixlist.org

There are surely going to be many countries who will want to copy the USA's model of a Bitcoin reserve (El Salvador too). And even the ones who don't will go through some measures to at least legalize it.

China looks like the only one stubbornly dragging its feet on this.

Oshosondy

legendary

Activity: 1652

Merit: 1208

Gamble responsibly

We have discussed about this time and times over on this forum. Yes it is true that if United States adopts bitcoin as a strategic reserve, other countries will consider to do the same. Even I read or we discussed about another country recently which is having the same plan. Also a state in United States like New York is having such a plan. Most countries like to follow what United States do so many countries will start buying bitcoin to their reserves.

Odohu

hero member

Activity: 616

Merit: 543

I have been thinking about some of the things that happened this year as they relate to Bitcoin and what could possibly happen next year. One thing that that filled my imagination is the reaction of other countries should the US start accumulating Bitcoin based on the promises of President Donald Trump. If this happens, chances are high that nations will be dragging who will hold more because no one wants to be left behind. Imagine what this will do to the price of a Bitcoin.

Anyways, this is just my imagination

Topic: How will other nations respond to US Bitcoin reserve proposal? (Read 254 times)