The American crypto working group will focus on starting a Bitcoin National Reserve (BTC), a decision that should stimulate similar efforts around the world, Bernstein broker said in a research report on Monday.
“A creation of an American bitcoin reserve could lead to a world race among the sovereigns to buy Bitcoin as one of the reserve assets,” wrote the analysts led by Gautam Chhugani.
The training of a strategic reserve poses a number of structural questions, according to the report.
Will the American Federal Reserve or the Treasury buy Bitcoin? If the Fed would require legislative approval, noted the report.
How does Fed Fund cryptocurrency purchases? Bernstein said he could issue debt or sell some of his gold reserves.
The US government could add the $ 20 billion in Bitcoin that it has entered criminal companies to any national reserve, added the report.
The broker noted that the Trump administration also announced the creation of a sovereign fund (SWF).
Such a fund “would consider the main American cryptography companies / market leaders, as strategic assets to have,” said Bernstein. “Investors should position themselves for the next stage of the Haussier market through actions related to Bitcoin and Bitcoin.”
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