While thinking about reserves in Bitcoin, a question came to my mind:
🔹How safe are reserves in Bitcoin?
🔹Holding Bitcoin will yield a lot of profit, it is certain, but how unstable is
the future of Bitcoin?
🔹If I were the government of a country, would I really keep Bitcoin in
reserve?
🔹And if I did, what are the first things I should prioritize? While looking for answers to these questions, I was looking for some opinions about Bitcoin from those who research cryptocurrencies or who make important contributions to the world economy, what they said about Bitcoin,,,
From there, some of their words about Bitcoin are mentioned below—Positive comments about Bitcoin-▫️
Michael Saylor, founder of MicroStrategy_
He has called on the US government to acquire 20 to 25 percent ownership in Bitcoin and he has described Bitcoin as a strategic asset of the United States.
He told the US government – “If you own 4-6 million Bitcoins, you can pay off the national debt”.
Source-
Cointelegraph▫️
Robert Kiyosaki, author of the book “Rich Dad Poor Dad”_
Robert Kiyosaki has called for Bitcoin to be considered a safe haven alongside gold and silver in the face of the global financial crisis.
He also said, “Fiat currency is not safe” and people need to be self-reliant, to save you and your family, you need to save gold, silver and Bitcoin.
Source-
financialexpress.com▫️
Anthony Scaramucci, founder of SkyBridge Capital_
Anthony Scaramucci has predicted that the price of Bitcoin will reach $180,000-200,000 by the end of 2025 and it will constantly exceed its price. He also said that since it is a fixed supply, people will have more confidence in it.
Source-
theaustralian.com▫️
Elon Musk, CEO of Tesla and SpaceX_
He has called Bitcoin a better currency than paper currency. He uses Bitcoin in his businesses SpaceX and Tesla.
Source-
cryptorank.io▫️
Donald Trump, President of the United States_
He has described Bitcoin as a strategic reserve.
Source-
thescottishsun.co.ukNegative comments▫️
Warren Buffett, CEO of Berkshire Hathaway_
He has called Bitcoin a gambling token and said about Bitcoin – “Bitcoin is not a productive asset and has no intrinsic value.”
Source-
foxbussiness.com▫️
Ray Dalio, founder of Bridgewater Associates_
He has expressed doubts about Bitcoin’s privacy and government regulation.
He has given more priority to gold than Bitcoin.
Source-
investopedia.com▫️
Jamie Dimon, CEO of JPMorgan Chase_
He has personally called Bitcoin “worthless” and “pet rock”.
But now his bank has allowed their clients to buy Bitcoin.
Source-
investopedia.comAlthough the negative comments could not affect the price of Bitcoin that much, on the contrary, Bitcoin’s acceptance is increasing day by day among people.
I think that to make Bitcoin more acceptable among people, the number of Bitcoin holders should be increased. Bitcoin cannot be managed by any one person or group, that is, Bitcoin’s equal distribution policy should be followed. Otherwise, the price of Bitcoin cannot be stabilized.
What answer did I get from the above comments?▪️How safe is the reserve in Bitcoin?- Since most of the economically rich countries in the world are prioritizing Bitcoin as their reserve asset and large financial institutions are hoarding Bitcoin, I think reserves in Bitcoin are largely safe.
▪️Holding Bitcoin will yield a lot of profit, but how volatile is the future of Bitcoin?- Yes, it is true that the more profit something gives, the more risk it carries, but the interest of the general public in Bitcoin and the determination of people to collect it make it seem that the future of Bitcoin is very good.
▪️If I were the government of a country, would I really keep Bitcoin in reserve?- If I were the government of a country, I would keep a large portion of Bitcoin as a strategic asset in my country’s reserve.
My opinion?Why would I keep Bitcoin in reserve?🔸 Bitcoin is a valuable currency whose amount is fixed, so I will keep it in reserve Bitcoin.
🔸 The popularity of Bitcoin is increasing day by day and the rate at which people are interested in Bitcoin, so the price of Bitcoin will exceed our imagination, so I will keep it in reserve Bitcoin in the hope of making more profit.
🔸 Looking at the past, I have seen that the rate of increase in the price of Bitcoin is much higher than other valuable things, so I will keep it in reserve Bitcoin.
🔸 I think that in the past, there will be no fiat for exchange, then the demand for Bitcoin will be the highest, so I will keep it in reserve Bitcoin.
Why should I not keep Bitcoin in reserve?🔸 Sometimes it has been seen that the price of Bitcoin is fluctuating by some people or groups, that is, Bitcoin is still limited to a group, so Bitcoin should not be kept in reserve.
🔸 If the country is not financially stable then we should not keep Bitcoin in our reserves.
🔸 Since Bitcoin is a completely digital currency and it has to be managed technically, If a country is technologically backward, it should not hold Bitcoin in its reserves.
All things considered, it seems to me that if a country wanted to, it could hold 70% of its reserves in Bitcoin.
How safe do you think reserves in Bitcoin are?