Mantle (mnt) 
US Bitcoin Reserve: A Strategic Asset or Campaign Rhetoric?
CryptoQuant CEO Ki Young Ju has raised questions about the possibility of the US embracing a Bitcoin reserve under the incoming Donald Trump administration. In a recent post, Young Ju expressed his personal support for the idea of a Bitcoin Standard but doubts the US would adopt Bitcoin as a strategic asset without a genuine threat to its global economic dominance.
“I personally support the idea of Bitcoin Standard. However, I question whether the U.S., while continuing to grow as other economies stagnate, would adopt Bitcoin as a strategic asset. For the debate to gain serious momentum, the U.S. would need to see its global economic dominance genuinely threatened.”
During his 2024 campaign, Trump promised to establish a national Bitcoin reserve to gain support from cryptocurrency enthusiasts. This initiative has garnered attention, with some analysts suggesting it could lead to significant appreciation in Bitcoin’s value. Following Election Day, Bitcoin reached an all-time high of over $108,300.
However, the US already holds a significant position in the global Bitcoin mining chart, producing approximately 37.8% of the world’s Bitcoin hash rate as of 2022. The US dollar also maintains its dominance globally, handling about 58% of all trade and 59% of all currency reserves. As such, Young Ju expects the US to only accept a strategic Bitcoin reserve if it sees its global dominance threatened.
Historical Context and Global Sentiment
Throughout history, whenever the US perceived a threat to its dominance in the global economy, gold prices surged, and debates around the gold standard gained traction. A similar trend is emerging among Koreans, who are increasingly turning to US dollars as a safe haven, eclipsing both gold and Bitcoin. This reflects a broader global sentiment that favors the dollar’s relative stability.
Trump’s Stance on Bitcoin
Trump’s stance on Bitcoin has been inconsistent. In 2019, he explicitly doubted its potential as a cornerstone of future financial systems, stating that Bitcoin and other cryptocurrencies are “not money” and “whose value is highly volatile and based on thin air.” However, during his 2024 campaign, he expressed support for Bitcoin, promising to establish a national Bitcoin reserve.
Young Ju observes that Trump’s stance on Bitcoin may shift yet again depending on the broader political landscape. “If Trump succeeds in showcasing U.S. economic resilience, reinforcing the dollar’s supremacy, and boosting his approval ratings, it’s unclear if he would maintain the strong pro-Bitcoin stance he demonstrated during his campaign,” he adds.
Implications for the Crypto Market
For Young Ju and other crypto professionals, the question remains: Was Trump’s mention of Bitcoin a serious step toward a “Bitcoin Standard,” or was it “a calculated move to secure votes?” The answer remains uncertain, with Young Ju stating that “it remains uncertain how much of his campaign rhetoric on Bitcoin he intends to fulfill.”
As the global economic landscape continues to evolve, investors and enthusiasts will be watching Trump’s administration closely to see how it will impact the crypto market. Will the US adopt a Bitcoin reserve as a strategic asset, or was it just campaign rhetoric? Only time will tell.
Stay up-to-date with the latest news and analysis on the crypto market and global economic trends on Global Crypto News.
