While the United States embraces Bitcoin, Europe is getting ducked by continuing to highlight the dystopia of the digital Euro.
Bitcoin Strategic Reserve
The American president signed a decree last week finally giving pride of place to Bitcoin.
The clear distinction vis-à-vis other digital active ingredients made it possible to appease the popular vindictive of the famous tweet of Donald Trump suggesting the creation of a “crypto reserve” also including ETH, XRP, Sol, ADA.
THE decree The separation between the Bitcoin Strategic Reserve and the detention of other digital assets obtained following confiscations within the framework of various criminal cases.
Note that the Bitcoins put into reserve cannot be sold, unlike other digital assets such as ETH, Sol, etc. “The Secretary of the Treasury can determine strategies for responsible management, including potential sales of the stock of digital assets in the United States”can we read in the decree.
The icing on the cake, the decree authorizes the accumulation of bitcoins, provided that it does so in a budgetary level. The Treasury Secretary declared his intention “Explore ways to abound the Bitcoins reserve”.
Secretary Scott Bessent did not hide his intention to use stablecoins to ensure that “The dollar remains the dominant reserve currency”.
Let us recall that companies such as Tether or Circle must have a dollar in reserve for each stablecoin issued. Tether For example invests 80 % of its 136 billion reserves in the Treasury of the US Government. However, its profits are invested in Bitcoin.
Buy the rumor, sell the news
This is the old stock market adage which currently pushes bitcoin under the $ 80,000. Indeed, if the presidential decree does indeed create a Bitcoin strategic reserve, purchases will come later.
The 12 members of the presidential working group have until July 22 to make proposals that will certainly serve as the basis for writing “Bitcoin Act”. Cynthia Lummis has been working on it for over two years. Senator wishes to create a reserve of a million BTC in selling part of the country's gold reserves.
Invited to the White House last Friday, Michael Saylor advised the president “To buy 25 % of bitcoins through daily purchases between 2025 and 2035”. Here is the document Shared by Mr. Saylor on this occasion.
For the CEO of Strategy (formerly Microstrategy), such a reserve could “generate $ 100 billion, which would mop up the national debt”. He too is of the opinion to sell gold.
Patience, therefore. That said, note that the dry (Securities and Exchange Commission) has already given the green light to the banks that would like to allow their customers to invest in Bitcoin. The Office of the Comptroller of the Currency said that American banks regulated at the federal level can now keep Bitcoins without prior authorization.
In short, Republicans have understood that Bitcoin is a technological breakthrough that will inevitably impose itself on the whole world. And during this time in Europe …
Bitcoin vs cbdc
Two rooms, two atmospheres. While the United States has abandoned the CBDC project to embrace Bitcoin, Europe is making the opposite way. Christine Lagarde wants a digital euro that many believe that he is a prelude to the creation of a company without cash.
The president of the European Central Bank swears that this is not the goal, but is she in good faith? It is permissible to doubt it when you know that it has been predicting for years the total abandonment of cash within 10 or 20 years.
Above all, she did not declare this in 2018 at a conference entitled “Winds of Change: The Case for New Digital Currency” ::
Imagine that people who buy beer and frozen pizzas generally have a higher reimbursement rate than those that buy organic and spring water broccoli. What can you do if you want beer and pizza, but you don't want your social credit to drop? Today, you get out of the cash. And tomorrow? Would a private payment system push you to the broccoli department? Could central banks come to the rescue by offering a completely anonymous digital currency? Certainly not. It would be a boon for criminals.
The former president of the IMF also assures us that the digital euro will not be programmable. In other words, spending your money in digital euros will not be conditioned. But then again, many central bankers are not of the same opinion.
Bo Li, Deputy Director General of the IMF and former Deputy Governor of Banque Populaire de China, said for example in 2022:
“The CBDC would authorize the packaging of money paid in the form of social assistance. For example, we could program money so that it cannot be spent on something other than food. »»
This declaration illustrates the challenges and potential of central bank digital currency (CBDC).
Not be the stuffing turkey
Christine Lagarde may not intend to end the cash or limit the way we can spend our money, but what about her successor? It would not be the first time that the EU has adopted the Salami technique to confiscate our freedoms …
Not building a gas factory with dystopian potential seems wiser. Especially since this project will cost billions of euros to the taxpayer while the continent's finances are more and more bloodless.
It would be much smarter to promote the Bitcoin industry in all European countries that deploy renewable energies. Undermining bitcoins would, for example, allow Germany to:
- profitable its intermittent renewable energies;
- restart its nuclear power plants;
- close coal power plants;
- Go down the megawatt hour prize that seriously threatens the country's industry.
We have already demonstrated it in Texas. The CEO of ERCOT recently canceled the construction of a dozen gas plants due to the 3 GW that bitcoin minors can return to the network on request and as long as necessary.
Do not miss our article on the subject: Bitcoin, France will spoil everything.
Speaking of Texasits parliament has just authorized the creation of a bitcoin reserve. Other countries are already in advance. This is the case of Bhutan, Salvador or the United Arab Emirates.
Many voices also rise in Europe so as not to be the stuffing turkeys. Especially in the Czech Republic where the governor of the central bank would like to add bitcoin to the country's reserves. The lines also move in Poland, and even in Russia.
Do not miss our article on this: Putin: “Who can stop bitcoin?” Person “
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