At the World Economic Forum in Davos in 2025, the idea of a strategic bitcoin reserve in the United States sparked a lively debate about the future of cryptocurrencies. This proposal, supported by President Donald Trump, was discussed during the session titled “Crypto at the Crossroads.”
Bitcoin at the heart of debates at the World Economic Forum
Brian Armstrong, CEO of Coinbase, asserted that the explosive performance of the TRUMP memecoin would not hamper efforts to establish a strategic bitcoin reserve. Additionally, just as many countries hold reserves of gold, oil, or rare minerals, the United States should consider holding BTC, which it considers to be the new gold standard.
The idea of creating a bitcoin reserve was championed by influential figures such as Cynthia Lummis, US senator, and Michael Saylor, founder of MicroStrategy, at the Bitcoin 2024 conference in Nashville, Tennessee. Armstrong detailed this proposal to delegates present in Davos, emphasizing the importance of holding assets that maintain their value over time. However, this idea was not unanimous.
Are CBDCs better than BTC?
Lesetja Kganyago, governor of the Reserve Bank of South Africa, expressed doubts about the relevance of this decision for his country. He highlighted that South Africa is focusing more on central bank-issued digital currencies (CBDCs) and the utility of blockchain rather than using bitcoin as a store of value.
Furthermore, he compared bitcoin to other potential strategic assets like platinum, coal, or even reserves of meat or apples. He recalled the history of the gold standard, where currencies were backed by gold, and expressed reservations about doing the same with BTC.
The debate over the strategic bitcoin reserve in the United States therefore reflects the differences of opinion on the future of cryptocurrencies and their potential role in national reserves. While some see BTC as a natural evolution towards a new standard of value, others remain skeptical of its viability and prefer to explore other technological and economic avenues.
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