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VanEck’s Sigel Suggests Bitcoin Could Rival Gold as the Global Standard, with US Leading

Author: Content Editor
Matthew Sigel, Head of Digital Assets Research at VanEck, suggests that Bitcoin has the potential to rival gold as the global money standard, with the U.S. leading the way. He points to Senator Cynthia Lummis' proposal to establish a Strategic Bitcoin Reserve, which mirrors the U.S. government's gold holdings, as evidence of this potential. Sigel draws parallels between the adoption of gold standards in the past and the potential rise of a Bitcoin standard in the 21st century. The move toward a Bitcoin reserve could make the U.S. a leader in this shift and could trigger a competitive race among nations to adopt digital assets. While the idea of holding Bitcoin as a reserve asset is not unique to the U.S., with El Salvador already adopting it as legal tender, reactions to the proposal remain mixed.

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