Author: Bitke Editor: Daheilong

When Satoshi Nakamoto launched Bitcoin, he may not have thought This "spark" will have the potential to "set a prairie fire".

From 10,000 Bitcoins being only enough to buy two pizzas, to 1 Bitcoin exceeding 100,000 US dollars, now it is said that Bitcoin is "digital gold" , there shouldn’t be much objection. However, for the Bitcoin community, the price increase does not truly reflect its true value. As some attempts to launch Bitcoin strategic reserves have attracted global attention, people have to start to pay attention to this initially unknown number. Currency looks differently.

Does the Chairman of the Federal Reserve give Trump a hard time?

There is ongoing debate over whether the incoming Trump will establish a Bitcoin reserve. Trump’s previous comments have suggested that he plans to establish a Bitcoin strategic reserve similar to the U.S. Strategic Petroleum Reserve.

Federal Reserve Chairman Powell said at a press conference this week that the Fed has no intention of holding Bitcoin. "We are not allowed to hold Bitcoin," Powell said at a press conference after the FOMC meeting. As for the legal issues of holding Bitcoin, Powell said, "It is something for Congress to consider, but we have no intention of seeking to Change the law. ”

The reason why the Fed is cautious about the path of cutting interest rates next year is because of concerns about the risk of upward inflation caused by Trump's potential tariffs. The results are also obvious - Bitcoin continued its decline in the European trading on Friday and once approached US$95,000. Earlier, Bitcoin had just hit a record high of over US$108,000.

U.S. exchange-traded funds (ETFs) directly investing in Bitcoin end their 15-year streak Days of capital inflows and record outflows of $680 million highlighted the shift in market sentiment. Strahinja Savic, head of data and analytics at FRNT Financial, said it was “very typical” to see such a pullback in a crypto bull market, while QCP Capital said in a report that the root cause of the sell-off was the market’s “overly optimistic” positioning. .

The Fed's hawkish turn on Thursday weighed on most risk assets. Bitcoin prices are still up nearly 50% since pro-crypto Donald Trump won the U.S. presidential election on Nov. 5. Parataxis "It looks like investors are taking profits at the end of the year, and there are no fundamental factors that triggered the sell-off," said Edward Chin of CNBC. ”

With fewer expectations for a Fed rate cut in 2025, some investors may be choosing to reduce their exposure. "Technically, caution is warranted in the short term," Chris Weston, director of research at Pepperstone Group, wrote in a note. This doesn’t mean we’ll see a price collapse anytime soon, but the momentum of the rally has clearly diminished and buyers have lost dominance and control of the market. ”

What is going to start the Bitcoin strategic reserve?

In fact, with Trump The "official announcement" supports Bitcoin and claims to establish a strategic reserve of Bitcoin. Some have already started to make moves. Bitkoala Kaola Finance summarizes it as follows:

1. United States: Wyoming State Senator Cynthia Lummis A bill called the Bitcoin Act was introduced last spring, which proposed that the United States purchase up to 200,000 Bitcoins per year over five years, or 5% of the token’s total Bitcoin supply. Coins will be stored in a "decentralized network of secure Bitcoin vaults operated by the U.S. Treasury Department," and token acquisitions will be accomplished through diversification of existing Fed funds such as bonds, loans, and gold.

In addition, at the state level in the United States, the establishment of Bitcoin reserves is also in progress. For example, a Texas lawmaker proposed a bill last week proposing that the state establish a Bitcoin reserve, at least to hold There have been five years; at the same time, a similar bill was proposed in Pennsylvania in November

2. Russia: According to the Russian news agency Ria, in November last year. Several Russian MPs suggested creating a “cryptocurrency reserve” in the “state treasury” but were met with disapproval by the Chairman of the Russian Duma Committee Anatoly Aksakov objected, but just a month later, Russian parliamentary representative Anton Tkachev once again proposed the creation of a Bitcoin reserve.align: left;">3. Japan: Japanese lawmaker Satoshi Hamada submitted a formal request to the legislative body in December, hoping to start discussions on establishing a Bitcoin reserve in Japan.

4. Poland: Polish presidential candidate Sławomir Mentzen advocates the establishment of a strategic Bitcoin reserve and the adoption of cryptocurrency-friendly laws and regulations in Poland. He said: "If I become the president of Poland, our Will be a safe haven for cryptocurrencies, with very friendly regulations, low tax rates, and a supportive attitude from banks and regulators. ”

5. Brazil: Brazil has introduced a bill proposing to establish a Bitcoin reserve. According to the proposed legislation submitted, the Bitcoin Sovereign Strategic Reserve (RESBit) It will account for 5% of Brazil's international reserves. It aims to diversify the assets of the Brazilian Treasury.

6. El Salvador: On-chain data shows that an El Salvador wallet address purchased 11 Bitcoins worth US$1.07 million for its strategic Bitcoin reserve. This news was confirmed by the El Salvador Bitcoin Office, who stated that they have Transfer $1 million worth of BTC to El Salvador’s strategic Bitcoin reserve

Why are more and more launching strategic Bitcoin reserves? style="text-align: left;">There are multiple complex reasons and considerations behind launching the Bitcoin strategic reserve. We can analyze it from the following aspects:

1. Economic diversification and financial sovereignty

Hedging inflation risks: Traditional fiat currencies face the risk of inflation. In contrast, the total amount of Bitcoin is limited and has the potential to The characteristics of centralization make it theoretically less susceptible to The impact of excessive money printing is therefore seen as a hedge against the risk of inflation. Bitcoin's value may continue to grow over time and can serve as a long-term store of value.

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Enhance financial sovereignty: The traditional financial system is often controlled by a few large financial institutions, and the currencies of various countries are also affected by international financial organizations. Countries can reduce their reliance on traditional financial systems and reduce the impact of other economies To a certain extent, Bitcoin can give countries more financial autonomy and give them a greater voice in the international financial system.

Attract investment: Including Bitcoin in strategic reserves can send a positive signal to the market and show support for the development of digital assets, which will attract more investors and Enterprises enter the country's digital asset market, thus promoting the prosperity of the digital asset industry. The development of the digital asset industry can create more job opportunities and promote economic growth.

2. Improve international image

Avoid sanctions risks: When international relations are tense, countries often impose financial sanctions on each other, freeze assets, and restrict transactions. As a decentralized digital currency, Bitcoin has high anonymity and can circumvent the sanctions of the traditional financial system. By holding Bitcoin, countries can transfer some of their assets to digital assets that are not easily frozen, thereby protecting their wealth.

Enhance international image: The field of digital currency is an emerging technological frontier, attracting more talents and technology, and helping to improve the technology Innovation ability. Laying out Bitcoin can enable a company to take a leading position in the field of digital currency and enhance its influence on a global scale. Showing a positive attitude in the field of digital currency can create an image of openness, innovation, and embracing the future.

3. Enhance financial independence

Get rid of the hegemony of the US dollar : As the world’s major reserve currency, the U.S. dollar’s ​​status has had a profound impact on the international financial system. By holding Bitcoin, countries can reduce their dependence on the U.S. dollar and increase financial independence. Bitcoin can serve as a new reserve asset to help countries spread exchange rate risks.

Part of the future financial system: With the rapid development of the digital economy, the demand for digital assets continues to increase, and Bitcoin is the earliest The emerging digital currency is expected to become an important part of the future financial system. Bitcoin can enable fast, low-cost cross-border payments and is expected to replace the traditional international payment system. Smart contracts based on Bitcoin blockchain technology can achieve more efficient and secure transactions, providing a broad space for financial innovation. Incorporating Bitcoin into strategic reserves can help countries diversify their asset allocation and reduce the risk of a single asset.

Summary

Bitcoin strategic reserve is a complex issue involving many aspects such as economy and finance. It should be noted that the Bitcoin strategic reserve also storesThere are certain risks, such as violent fluctuations in Bitcoin prices, which may bring financial uncertainty; in addition, the global supervision of digital assets is not perfect, and there may be legal risks, and Bitcoin technology itself is also constantly developing, which may There are security risks.

In fact, different motivations and considerations for launching Bitcoin strategic reserves are different, but generally they hope to deal with the challenges of the traditional financial system in this way. , enhance competitiveness and prepare for the future financial landscape.