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Bitcoin As A Strategic Asset? CryptoQuant CEO Weighs In
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin As A Strategic Asset? CryptoQuant CEO Questions US’s Next Move

Christian Encila
Christian Encila
5 months ago
3 mins read
Bitcoin

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Since President-elect Donald Trump raised the possibility of establishing a US Bitcoin Strategic Reserve, many advocates have pushed for the creation of the crypto stockpile, saying that it would make the country as the leader in the global cryptocurrency landscape.

However, not everyone in the crypto community is convinced of the feasibility of the crypto reserve.

CryptoQuant CEO Ki Young Ju is pessimistic that the prospect of the Bitcoin Strategic Reserve would get an approval from the incoming administration.

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BTC Reserve Doubtful

Young Ju is not convinced that the proposed Bitcoin reserve would push through, saying it is unlikely that Trump would embrace the crypto strategy to protect US dollar dominance because the greenback remains a safe haven currency.

Throughout history, whenever the United States perceived a threat to its dominance in the global economy, gold prices surged, and debates around the gold standard gained traction.

In the late 1990s, Peter Schiff championed gold as the true form of money, much like today’s…

— Ki Young Ju (@ki_young_ju) December 28, 2024

The executive of CryptoQuant thinks that the policies of the new government would be much influenced by the apparent strength of the US economy and the predominance of the American currency in international trade.

Young Ju said that if there is a perceived threat to the US economic hegemony, gold, Bitcoin or any other store-of-value assets would experience a surge in its price.

US Economy Still Dominates

Young Ju argued that there is no perceived threat to American dominance since many investors still have great confidence in the US economy or the US dollar.

“I personally support the idea of #Bitcoin Standard. However, I question whether the US, while continuing to grow as other economies stagnate, would adopt Bitcoin as a strategic asset,” he said in a post.

The crypto executive believes the debate on the Bitcoin reserve would only gain serious momentum if the country’s global economic dominance is “genuinely threatened,” adding, “At present, market sentiment suggests confidence in the US’ continued supremacy.”

BTCUSD currently trading at $94,525. Chart: TradingView

The US processed 37.8% of the world’s Bitcoin in 2022, making it the leader in crypto mining, according to government data.

Crypto Stance Could Shift

Young Ju said that it is possible that Trump’s stance on Bitcoin may take an unexpected turn depending on the broader political landscape.

“If Trump succeeds in showcasing US 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 explained in a post.

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The CryptoQuant CEO suggested that more likely, Trump would “step back from his Bitcoin advocacy,” pointing out that he might cite that there has been a change in priorities, “without alienating his voter base.”

“At the BTC Conference, was his mention of Bitcoin as a strategic asset a genuine step toward preparing for a Bitcoin Standard, or merely a calculated move to secure votes?” he said.

For the crypto executive, it is still unsure which of Trump’s “campaign rhetoric on Bitcoin” will be fulfilled.

Featured image from Pexels, chart from TradingView

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
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Strict editorial policy that focuses on accuracy, relevance, and impartiality

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