PK Press Club – Renowned macroeconomic analyst and gold advocate Peter Schiff recently shared his views on Japan’s economic policy, while also expressing strong skepticism about the concept of (BTC) as a strategic reserve .
Noting that the Bank of Japan’s efforts to raise inflation over the past decade have backfired, Schiff suggested the economy would have been in better shape if inflation had stayed below 2% instead. than above 3.4% as is currently the case, a scenario he estimates. would have prevented the accumulation of a significant public debt.
In response to a follower’s suggestion that several countries, including the United States, might consider adopting BTC as a strategic reserve, Schiff dismissed the idea as unfounded speculation. He suggested that such claims were likely spread by individuals seeking to manipulate the price of Bitcoin for personal gain.
Japan’s stance on cryptocurrency reserves has been cautious, with none other than Prime Minister Shigeru Ishiba declaring in December 2024 that the volatility of cryptoassets, including Bitcoin, was incompatible with the current system, making the issue questionable. introduction of a BTC reserve.
Does Bitcoin belong to the strategic reserve?
However, the lack of information about US projects has also been cited as one of the reasons, which offers a glimmer of hope to those advocating the creation of a Japanese Bitcoin reserve. Once this issue is finally resolved in the United States, other countries that rely on the United States as a reference will also make their decisions regarding such an initiative.
According to the latest news, the new US administration, which will come into power, plans to appoint around 24 CEOs and corporate backers to its proposed cryptocurrency advisory board to provide policy to create a strategic reserve of Bitcoin. It will also work with key government agencies, including the SEC, CFTC and Treasury, to clarify regulations and create a favorable environment for cryptocurrencies.
None of this is set in stone yet, leaving room for speculation such as Schiff’s. The only concrete information the market is likely to get will be when the relevant guidelines are published by the relevant authorities.
