ChainCatcher news, gold advocate Peter Schiff stated on social media that a significant amount of money could be saved by creating USA Coin instead of establishing a Bitcoin strategic reserve. Like Bitcoin, the supply cap can reach 21 million, but USAcoin can only be used for payments after the blockchain upgrade.

ChainCatcher news, CryptoQuant founder Ki Young Ju stated that the United States may strategically accumulate Bitcoin (BTC) to address part of its debt issues.Young Ju believes that establishing a Strategic Bitcoin Reserve (SBR) to offset part of the U.S. debt is feasible. Considering that U.S. debt includes both domestic and foreign holdings, Young Ju suggested that the U.S. could acquire approximately 1 million Bitcoins. This amount of strategic accumulation should span from now until 2050.He explained that this money could be used to offset 36% of its domestic debt. This means that 70% of U.S. debt could be paid off.

ChainCatcher news, CryptoQuant CEO Ki Young Ju posted that the KRW to USD exchange rate is about to hit a 15-year high. He reviewed the history of South Korea overcoming the crisis during the 1998 IMF bailout by mobilizing gold from the public and stated that South Korea may currently need to launch a "digital gold mobilization campaign." Ki Young Ju emphasized that South Korea is the country that most needs to establish a Bitcoin strategic reserve.

ChainCatcher news, Dan Morehead, founder and CEO of the hedge fund and venture capital firm Pantera Capital, recently discussed the evolution of cryptocurrency adoption in the U.S. and potential changes in the coming year on CNBC's "Fast Money." In the interview, Morehead talked about President Trump's proposal to establish a strategic Bitcoin reserve and expressed strong support for the initiative. He said, "I think this is actually a very important thing. When you are the world reserve currency, you don't need to store other currencies."Morehead elaborated on the current state of U.S. reserves, noting, "The U.S. has no other currency. It stores $600 billion in gold, which is an astonishing amount. That's equivalent to 11 million years of American workers' wages, so that's a bit crazy."He advocated for a transition to digital assets, stating, "Move to digital gold. Bitcoin is much better, so I think it makes total sense." Emphasizing the government's existing holdings, Morehead mentioned, "The U.S. already owns 1% of the world's Bitcoin. Maintain that ratio, increase that ratio. So I think this is indeed a very good policy. Several countries already own Bitcoin. It would be great if the U.S. could lead."

ChainCatcher news, Bitwise Chief Investment Officer Matt Hougan recently stated that the U.S. Bitcoin strategic reserve plan could push BTC up to $500,000."If this happens, or if we start to see this happening in other countries, then you will see BTC rise significantly, making the performance in 2024 seem quite modest by comparison."

ChainCatcher news, according to Bitcoin Magazine, the Bitcoin Policy Institute has drafted a Bitcoin strategic reserve executive order for President Trump.

ChainCatcher news, according to Bitcoin Magazine, European lawmakers are calling for the establishment of a Bitcoin strategic reserve, rejecting the digital euro.

ChainCatcher news, BTC Markets cryptocurrency analyst Rachael Lucas stated: "Setting a new all-time high is significant for Bitcoin, marking its evolution into a more mature asset class, reflecting Bitcoin's transition from a retail-driven asset to one supported by institutional demand, ETFs, and corporate bonds, which enhances its legitimacy."The analyst noted that several factors contributed to Bitcoin's breakthrough of $106,000, including the recent statement by elected President Trump expressing his desire to establish a strategic Bitcoin reserve and do "some great things" with cryptocurrency, as well as MicroStrategy being included in the Nasdaq 100 and Riot recently announcing the purchase of 5,117 BTC.Presto Research analyst Min Jung said: "The FOMC meeting scheduled for this Wednesday will provide important insights into the Federal Reserve's outlook on potential interest rate cuts." Jung added that cryptocurrency prices are expected to be significantly influenced by announcements or developments related to Trump's inauguration in January next year.

ChainCatcher news, Trump recently stated in an interview with CNBC, "We are going to do some great things with cryptocurrency... Others are accepting it, but we want to be the leaders."In addition, Trump also stated that the U.S. will strive to maintain its lead in the field of artificial intelligence. When asked whether the U.S. would establish a Bitcoin strategic reserve similar to the oil reserve, Trump replied, "Yes, I think we will."

ChainCatcher news, according to WatcherGuru, U.S. crypto-friendly Senator Cynthia Lummis has met with incoming Treasury Secretary Scott Bessent of the Trump administration to discuss issues related to Bitcoin as a strategic reserve.

ChainCatcher news, according to Bitcoin.com, BTC Inc. CEO and Trump campaign advisor David Bailey revealed that four countries have approved a strategic Bitcoin reserve plan, but did not disclose the specifics of these measures or the names of the countries involved.Bailey hinted that a group of Bitcoin-holding countries may be organized in the future, similar to today's traditional international organizations, such as the G7. Bailey emphasized that the scarcity of Bitcoin and global demand will drive competition among countries for Bitcoin.Although no country has officially announced related measures at this time, the United States and Brazil have begun to advance relevant regulations to lay a legal foundation for strategic Bitcoin reserves.

ChainCatcher news, according to Bloomberg, former U.S. Treasury Secretary Lawrence Summers dismissed the idea of the government establishing a Bitcoin asset reserve, calling it "too crazy" and merely catering to special interest campaign donors.During his campaign, Trump proposed that the government retain tokens, and his allies wanted to scale up to reduce the national debt, as well as appoint a cryptocurrency supporter as the SEC chairman. Summers also stated that Musk's plan to cut $2 trillion in spending is politically very difficult to achieve.

ChainCatcher news, according to Cointelegraph, at the 2024 North American Blockchain Summit held in Dallas, Texas, the chairman of the nonprofit think tank (Avik Roy) stated on stage: "When Wyoming Senator Cynthia Lummis talks about how a Bitcoin strategic reserve plan could help us eliminate federal debt, it is an overstatement of what Bitcoin can actually do.If the U.S. were to purchase a 'massive' amount of Bitcoin and appreciate its value, it might help, but it does not address the $35.46 trillion debt issue that has been growing almost exponentially since the 1980s."

ChainCatcher message, VanEck's Head of Digital Asset Research Matthew Sigel posted on X: "VanEck supports Bitcoin as a strategic reserve. No need to cite 'sources', we will announce it ourselves."

ChainCatcher news, according to Bitcoin Magazine, Polish presidential candidate Sławomir Mentzen has promised to establish a Bitcoin strategic reserve if elected.

ChainCatcher news, Satoshi Action Fund CEO Dennis Porter posted on social media that the organization has made its Bitcoin strategic reserve policy model public, which is now available for download.It is reported that the "Bitcoin Rights" bill passed by the Pennsylvania House of Representatives on October 25 was drafted by the Bitcoin advocacy organization Satoshi Action Fund, and is the latest initiative to help legislators understand the nuances of blockchain technology and Bitcoin.

ChainCatcher news, Trump nominates Satoshi ActionFund co-founder Dennis Porter as the head of Bitcoin Strategic Reserve.

ChainCatcher news, Professional Capital Management founder and CEO Anthony Pompliano posted on the X platform that the more the U.S. talks about a Bitcoin strategic reserve, the greater the opportunity for other countries to get ahead, so a U.S. Bitcoin strategic reserve must be established within 30 days of Trump's inauguration.