Bitcoin Will Help the United States

American financial Anthony Scaramucci has shared his latest take on the recently announced strategic Bitcoin reserve, arguing that it will actually help the U.S. 

“We believe in a United States Strategic Bitcoin Reserve not because it will help Bitcoin, but because it will help the United States,” he said on the X social media network. 

Back in November, he argued the reserve could be positioned as “the next Fort Knox.” 

During his most recent appearance on CNBC, Scaramucci argued that Bitcoin can be viewed as “a very valuable long-term strategic asset.”

Despite the creation of the reserve, the Bitcoin price has been severely underperforming. 

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“If you read through the executive order, there is a lot of meat in there for Bitcoiners,” Scaramucci said.  

However, he has also acknowledged that the expectations were “very high” within the Bitcoin community. This might explain why a lot of its members felt somehow underwhelmed by the reserve announcement despite key industry players painting it as a big deal. 

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So far, the reserve will contain only the forfeited coins that the government already owns, meaning that there will be no additional boost. However, the government might find a way to expand its holdings.  

Scaramucci has suggested that the government could possibly sell other assets under forfeiture and transition them into Bitcoin. 

As reported by U.Today, Strategy co-founder Michael Saylor previously suggested dumping U.S. gold reserves in favor of Bitcoin, claiming that it would benefit the country from a geopolitical standpoint.