It is not to please cypherpunks that the United States is preparing to accumulate millions of bitcoins. The goal is to lighten the debt burden.
Bitcoin and American debt
The fact that the American superpower kissed Bitcoin first is not trivial. Many have rejected the idea that Bitcoin can become an international reserve currency claiming that the United States would do everything to protect its monetary hegemony.
As a reminder, this domination dates back to the Bretton Woods agreements (1944). The nations agreed to retreat to trade in dollars provided that they could convert them into gold at the fixed price of $ 35 perce.
The United States broke its promise in 1971, but immediately forced OPEC nations to sell their oil exclusively in dollars. The old continent was therefore prevented from abandoning the dollar. Since then, all exporting nations have placed their hundreds of billions of dollars in American debt to garner interest.
This is called the petrodollar system which offers the United States the exorbitant privilege of displaying a chronically deficit trade balance without the dollar collapsed.
Clearly, the United States lives above its means by getting into debt with exporting nations. However, this privilege is double-tranchant. Indeed, almost a third of global public debt is American ($ 36,000 billion)…
This debt has become irrelevable, so that China has ceased to place its trade surpluses there, just like Russia and many other countries gravitating around the Sino-Russian block.
And while the Empire believed that he could cut the head of the BRICS via a proxy war in Russia, a plan B risks being necessary to take care of the debt problem.
The BTC plan
Do not reimburse the 300 billion euros that Europe owes to Russia or the 800 billion that the United States owes China would be very risky.
It is nearly $ 10,000 billion that the US government owes the rest of the world. Unfortunately, no one wants to participate in Ponzi. When the Brics are reluctant to trade in dollars, it must be understood that they no longer want to finance the American debt.
And rather than lacking at the risk of triggering the third world war, why not bet on Bitcoin to erase the slate? It is the idea of Michael Saylor who offers to buy 5 to 25 % of bitcoins between 2025 and 2035. According to him, these bitcoins could generate between 16 and 81 billions of dollars, “Which would counterbalance the national debt”.
Obviously, Mr. Saylor does not imagine for a second that this reserve can understand anything other than bitcoins. “There is no second best”he likes to say. For him, this reserve should only include bitcoins obtained via the sale of the country's golden stocks. No need for eth, soil or any other digital active ingredient.
The crypto lobbies have managed to make their way in the spans of the White House, but no one is fooled. Ultimately, this strategic reserve will be entirely made up of bitcoins.
Faced with the American strategy, some finally wake up in Europe. Deutsche Bank has just realized that the American Bitcoins Strategic Reserve “Could establish an international standard”.
In France, Marine Le Pen wants to exploit The surpluses of production of nuclear power plants to undermine bitcoin. “Our nuclear fleet only turns on an average of 70 % of its power. The objective will be to make it work at full power […] so that EDF can constitute bitcoin reserves […] »»She said on Tuesday.
Bitcoin, not crypto
Bitcoin is a decentralized network of independent nodes which guarantee that no entity can take control of it. This decentralization prevents in particular from creating more than 21 million bitcoins.
More than twenty gigawatts are currently protecting the network, the equivalent of 10 to 20 nuclear power plants. Bitcoin represents 99 % of the Proof of Work Global, which offers safety guarantees much higher than those of the Proof of Stake while profitable the surpluses of renewable energy.
In addition, Bitcoin is not in the hands of initiates. Its true decentralization prevents any significant change without a broad global consensus. Conversely, the protocols of most cryptocurrencies are influenced by obscure foundations, businesses or personalities. While Vitalik Buterin continues to weigh with all its weight in the evolution of Ethereum, Satoshi Nakamoto has disappeared.
Another great distinction with altcoins is that Bitcoin is an active without transmitter (Asset without an outlet). It is in a way an immaculate design impossible to reproduce ensuring that the bitcoins have been and will remain created in a fair and transparent manner.
This contrasts strongly with the astronomical quantities of ETH, soil or ADA that their founders have been clogged for free. For example, 70 % of ETH were pre-advised, including 9.9 % for the founders. The rest was sold at a price of $ 0.30 for 1 ETH.
It's much worse for XRP and Solana:
All this to say that the finite money supply of bitcoin is guaranteed by its decentralization, which is much less true for other more or less centralized digital assets.
This fixed offer guarantees the essential scarcity to any self -respecting stateless international reserve currency. Don't miss our article: Donald Trump's hidden lenses …
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