Bitcoin While breaking a new record by exceeding 100 thousand dollars for the first time in history, Donald Trump‘s strategic for the USA BTC It is wondered whether he will keep his reserve promise.
At this point, while Trump’s strategic Bitcoin reserve promise is supported by many people, Bill Dudley, former chairman of the New York Fed. He said that if the US included Bitcoin in its national reserves, it could harm the public’s interests and change the dollar’s status as the global reserve currency.
According to Bloomberg’s report, former NY FED chairman Bitcoin He argued that the reserve would not benefit most Americans and argued that it would protect the interests of certain groups rather than the interests of the majority of Americans.
Bill Dudley stated that Bitcoin is a weak asset and said that reasons such as price volatility, lack of widespread acceptance as payment, and slow and expensive transaction process make BTC a weak asset.
Dudley also pointed out the risk of people losing access to their Bitcoin assets and that, unlike traditional financial assets, Bitcoin does not generate income through interest or dividends.
Dudley argued that creating a Bitcoin reserve for the US would require the Treasury to increase borrowing, raising debt servicing costs or requiring the FED to print more money, ultimately fueling inflation.
Dudley recently suggested that instead of creating such a reserve, the incoming Trump and his administration should focus on developing comprehensive regulations to support the safe growth of the crypto industry.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/eski-fed-baskani-bitcoin-btc-hakkinda-konustu-trumpa-tavsiye-verdi/
