The author, Trey Walsh, expresses reservations about the United States creating a Strategic Bitcoin Reserve (SBR), citing concerns about timing, political ramifications, the cost of obtaining Bitcoin, government involvement in Bitcoin's development, and potential risks to privacy and self-custody. While there is some support for the SBR from Bitcoin proponents, particularly GOP politicians, there has been little attention paid to its potential benefits from a progressive perspective. The author suggests that a SBR could have positive implications for social safety net spending, the budget deficit, and addressing the country's debt and spending crises. They also mention the potential for Bitcoin mining and community development if the US accepts Bitcoin. The overall focus is on exploring how Bitcoin can contribute to social good and improve the lives of everyday people.
- Content Editor ( bitcoinmagazine.com )
- 2024-12-30
A Progressive Case for a Strategic Bitcoin Reserve: Strengthening America’s Social Safety Net