CryptoQuant The company's CEO, Ky Young-ju, questioned whether the United States would need to adopt the Bitcoin standard unless global confidence in the dollar was significantly reduced.
His comments come as discussions about Bitcoin have intensified (Bitcoin) role in the US financial system, drawing parallels with past debates about the gold standard.
Who said:
I support the idea of a bitcoin standard, but question whether the US will resort to it unless dollar dominance is truly at stake.
His skepticism reflects a broader sentiment that while bitcoin could serve as a hedge against inflation, the current economic environment may not warrant such a shift.
Ki's position reflects growing but cautious interest in Bitcoin as a strategic asset. He has suggested that the United States accumulate 1 million bitcoins by 2050 Reducing the national debt and strengthening economic resilience.
However, he acknowledges the challenges, pointing to the volatility of Bitcoin and the complexities of integrating it into the country's financial reserves.
The idea of Bitcoin as part of the US economic strategy was picked up after former President-elect Donald Trump He committed to build the country The global leader in crypto While fighting for the presidential election.
Trump's proposal to create a Bitcoin National Reservewhich gained widespread support, fueled market optimism, and contributed to an all-time high in the price of Bitcoin.
Emotions remain divided
Despite Trump's enthusiasm, analysts remain divided. While some see bitcoin as a potential hedge against inflation, others argue that the dollar's dominance remains secure as global capital continues to flow into US markets.
Observers have also noted that investors in regions such as South Korea are increasingly favoring the dollar over assets such as bitcoin or gold amid economic uncertainty.
Kay predicts that Bitcoin will become a mainstream currency by 2030, driven by institutional acceptance and reduced volatility. He believes that as Bitcoin stabilizes, its utility will be more aligned with its original design as a peer-to-peer electronic cash system.
Whether the U.S. moves toward adopting bitcoin at a strategic level may depend on future changes in global economic power and confidence in the long-term stability of the dollar, he added.
