Everything you wanted to know about Bitcoin Strategic Reserve

[GIF-JOBS]

 Philippines House introduces a bill to establish a strategic #Bitcoin reserve.


https://x.com/BitcoinMagazine/status/1958844275506242045?t=o6W_hSg7HD8hl1syLqe5uA&s=19

[AirtelBuzz]

Philippines House introduces a bill to establish a strategic #Bitcoin reserve.

Well, the Philippines has introduced a bill for a strategic bitcoin reserve but if they can move forward with this strategic reserve then it would certainly signal a bold hedge against fiat volatility, it's really huge, Brazil a few days ago and now the Philippines. Villafuerte has a small part to play in this progress in Bitcoin in the Philippines because I understand that the chairperson of the House Committee on ICT is primarily concerned with strengthening financial stability and it's right she believes that Bitcoin will help do that for which he called on the BSP to keep a strategic reserve. However their House Bill 421 states that the Bangko Sentral ng Pilipinas will purchase Bitcoin for five years and they will purchase 2,000 Bitcoins per year.

House Bill No. 421, introduced by Congressman Miguel Luis Villafuerte proposes the establishment of a Strategic Bitcoin Reserve to be managed by the Bangko Sentral ng Pilipinas (BSP). The plan calls for the purchase of 2,000 BTC annually over five years, for a total of 10,000 BTC, to be held in trust for at least 20 years.

[Qhunman]

Philippines House introduces a bill to establish a strategic #Bitcoin reserve.


https://x.com/BitcoinMagazine/status/1958844275506242045?t=o6W_hSg7HD8hl1syLqe5uA&s=19

Philippines House of Representative proposing for a strategic bitcoin reserve is a welcome development. This Bill will enable the government to invest tax payer funds to buy Bitcoin strategically for a few years to stabilize the economy of the country. I hope this bill will not be frustrated by other lawmakers in the House. If this bill yield good results in the house,it will protect Philippines economy against inflation that has been hitting hard at the country economy for years now.

[Cpt_reader]

This is good news for Bitcoin holders, another 10000 Bitcoins are being removed from the supply. Since the supply is limited, if a few more countries decide to do this, the amount of Bitcoin on the market will decrease and the price will increase manifold.



Source: https://x.com/BTC_Archive/status/1958863592389771518?t=URPFwGaBKI-qowFOPw-v5g&s=19

[ruykeri]

Philippines Rep. Migz Villafuerte's HB 421 proposes a Philippine Strategic Bitcoin Reserve, directing the BSP to buy 2,000 BTC annually for 5 years (totaling 10,000 BTC) to be held for 20 years to enhance national security and debt stability.


https://x.com/BitcoinNewsCom/status/1958868757067227189?t=xiPSP-AWj30MBee2bvwL9w&s=19

[Bluedrem]

The Philippine Strategic Bitcoin Reserve Act (House Bill No. 421) has been proposed by Miguel Luis in the Philippine National Assembly to reserve Bitcoin as a strategic currency.
It is proposed that the Philippines will buy at least 2000 Bitcoins every year for at least five years. That is, they have decided to buy 10,000 Bitcoins in five years. And it is proposed to keep the Bitcoins unsold for at least 20 years and these Bitcoins will be under the control of the central bank.

Undoubtedly, if this bill is passed, the Philippines' economy will go far in the future.
This is an important aspect of Bitcoin, especially in the Asian economy. All countries should stockpile as much Bitcoin as possible to ensure the future economy like the Philippines.
_______________________________________________________________________
 Source:  The Philippine Strategic Bitcoin Reserve Act

[Derekfunds]

https://x.com/BTCTN/status/1958895309695672771?t=xCs7xXjSTO0Oc2aTcStbgA&s=19

Immediately Fed Chair Powell talks about shifting balance risks and in less than no time the price of Bitcoin move back to $115k, sometimes I wonder how this work exactly because sometimes when they speak about this market you will see coin dropping and there are also time they will talk about the market you will see the market going up but either way, this should not be our problem rather our problem should be channel on how to grow our portfolio.

And this is the reason why it is not advisable to trade Bitcoin because things like this will always frustrate traders because they won't know what will be the market condition in the next minute.



Now I know the Government really has power to influence the market, you can imagine the price of Bitcoin 4-5 hours ago and where it is now $116k

[Ambatman]

A House Bill No.1812 was introduced to the general Assembly of  Pennsylvania and if passed and signed into law will restrict public officials from owing nor transacting in Bitcoin or in any digital assets during their terms of service and for one year after leaving office in the state. This bill is sponsored by nine lawmakers in the house seeking to ban public officials from owing Bitcoin while in office and violators will be penalized . This Bill 1812 contradict president Donald Trump intentions of Making America the Bitcoin capital of the world. It pains me to see lawmakers fighting to denied others the right to financial freedom within a stipulated period of time.

A glaring loophole is that it doesn't prevent family from owning Bitcoin
So for whatever reason they might want to prevent public officials from owning Bitcoin
There's always a walk around it.
I think they are seeing Bitcoin like stock and trying to prevent a supposed insider trading.

Wow, this is a complete U-turn in stance toward cryptocurrencies.

Politicians never seize to amaze. Chameleons, easy to change views.

[bangjoe]

https://x.com/BTCTN/status/1958895309695672771?t=xCs7xXjSTO0Oc2aTcStbgA&s=19

Immediately Fed Chair Powell talks about shifting balance risks and in less than no time the price of Bitcoin move back to $115k, sometimes I wonder how this work exactly because sometimes when they speak about this market you will see coin dropping and there are also time they will talk about the market you will see the market going up but either way, this should not be our problem rather our problem should be channel on how to grow our portfolio.

And this is the reason why it is not advisable to trade Bitcoin because things like this will always frustrate traders because they won't know what will be the market condition in the next minute.



Now I know the Government really has power to influence the market, you can imagine the price of Bitcoin 4-5 hours ago and where it is now $116k

Such fluctuations are not surprising because, after all, it is the institutions involved in ETFs that are borrowing money to invest for profit. It is therefore only natural for traders to take advantage of upcoming news, betting over the course of hours, days, and weeks to capitalize on opportunities for profit.

The government, of course, has an influence on the market, as it is the regulator and sets macroeconomic policies, so it will have a significant impact on market fluctuations, especially in the American market, which has substantial capital resources.

[Jaksonhard]

Harvard economist Kenneth Rogoff made a big call in 2018 when he said Bitcoin would never reach $100,000 and that it was more likely to fall to $100 soon. However, he retracted his statement after seven long years.

I think bitcoin will be worth a tiny fraction of what it is now if we’re headed out 10 years from now ... I would see $100 as being a lot more likely than $100,000 ten years from now,” Rogoff told CNBC’s “Squawk Box.

Harvard economist admits he was wrong about the Bitcoin community.

cnbc.com/2018/03/05/bit…

[Yorubek]

source: https://x.com/BTC_Archive/status/1958956454888497472?t=19

[2Pizza410000BTC]

This is good news for Bitcoin holders, another 10000 Bitcoins are being removed from the supply. Since the supply is limited, if a few more countries decide to do this, the amount of Bitcoin on the market will decrease and the price will increase manifold.



Source: https://x.com/BTC_Archive/status/1958863592389771518?t=URPFwGaBKI-qowFOPw-v5g&s=19

Of course, this is a huge news for Bitcoin and Bitcoin investors. When a country decides to accept Bitcoin as its strategic reserve, it brings great news for us. Due to various positive news, we saw Bitcoin go from $111.6k to $117k today and is currently at $117k. However, it is true that if 10,000 Bitcoins from the total supply of Bitcoin go to a country's strategic reserve, the demand for Bitcoin will increase and the price of Bitcoin will increase a lot. Not only in the Philippines, when other countries take Bitcoin as their strategic reserve, the demand for Bitcoin will increase and the price will also increase a lot, but imagine what the position of Bitcoin will be when Bitcoin goes from a limited supply to the strategic reserve of different countries. If I imagine, I can see a time when people will not be in a position to buy 1 Bitcoin.

[laspol65]

This is good news for Bitcoin holders, another 10000 Bitcoins are being removed from the supply. Since the supply is limited, if a few more countries decide to do this, the amount of Bitcoin on the market will decrease and the price will increase manifold.



Source: https://x.com/BTC_Archive/status/1958863592389771518?t=URPFwGaBKI-qowFOPw-v5g&s=19

Of course, this is a huge news for Bitcoin and Bitcoin investors. When a country decides to accept Bitcoin as its strategic reserve, it brings great news for us. Due to various positive news, we saw Bitcoin go from $111.6k to $117k today and is currently at $117k. However, it is true that if 10,000 Bitcoins from the total supply of Bitcoin go to a country's strategic reserve, the demand for Bitcoin will increase and the price of Bitcoin will increase a lot. Not only in the Philippines, when other countries take Bitcoin as their strategic reserve, the demand for Bitcoin will increase and the price will also increase a lot, but imagine what the position of Bitcoin will be when Bitcoin goes from a limited supply to the strategic reserve of different countries. If I imagine, I can see a time when people will not be in a position to buy 1 Bitcoin.

The Philippines has adopted Bitcoin as a strategic reserve, and they will collect 10,000 Bitcoins in five years. Every year they will buy 2,000 Bitcoins according to the DCA method, thus they will collect ten thousand Bitcoins in five years. They have promised to keep this Bitcoin held for 20 years, and according to the DCA method, it will take five years to collect two thousand Bitcoins per year. They have expressed interest in holding Bitcoin for (5+20)=25 years, thus other countries have strategic reserves.

I think every country should keep Bitcoin in its reserve fund because Bitcoin will play the biggest role in ensuring the future economy. When almost every country holds Bitcoin and the supply of Bitcoin decreases, the amount of Bitcoin buying and selling in the market will decrease, because every country will then hold Bitcoin holdings.

[abaeze]

Pennsylvania House bill to ban public officials from owning Bitcoin and digital assets if passed.

Violations could result in fines or imprisonment.



A House Bill No.1812 was introduced to the general Assembly of  Pennsylvania and if passed and signed into law will restrict public officials from owing nor transacting in Bitcoin or in any digital assets during their terms of service and for one year after leaving office in the state. This bill is sponsored by nine lawmakers in the house seeking to ban public officials from owing Bitcoin while in office and violators will be penalized . This Bill 1812 contradict president Donald Trump intentions of Making America the Bitcoin capital of the world. It pains me to see lawmakers fighting to denied others the right to financial freedom within a stipulated period of time.

This law was originally made so that government officials and employees cannot commit corruption because through Bitcoin transactions, money can be illegally laundered from anywhere at any time or there can be a tendency for corruption or bribery, which is why the government has done this only for government employees, this law is not applicable to the general public. So in my opinion this law is right. The total population of Pennsylvania is about 13.08 million, according to the official source: Census Bureau, and 11.7% of the total employment is in government jobs.Therefore, it is natural to have a separate discipline for government employees in the interest of the economic security of the larger people. The most important thing is that government employees are directly involved in making public money and policies.

Therefore, the main goal of the law is to protect the public's trust that government officials are not doing any secret transactions, although corrupt people can commit corruption in many ways, they will try to do whatever is necessary or responsible on behalf of the government, I appreciate the government's point of view for this law.

[ultrloa]

This is good news for Bitcoin holders, another 10000 Bitcoins are being removed from the supply. Since the supply is limited, if a few more countries decide to do this, the amount of Bitcoin on the market will decrease and the price will increase manifold.



Source: https://x.com/BTC_Archive/status/1958863592389771518?t=URPFwGaBKI-qowFOPw-v5g&s=19

Of course, this is a huge news for Bitcoin and Bitcoin investors. When a country decides to accept Bitcoin as its strategic reserve, it brings great news for us. Due to various positive news, we saw Bitcoin go from $111.6k to $117k today and is currently at $117k. However, it is true that if 10,000 Bitcoins from the total supply of Bitcoin go to a country's strategic reserve, the demand for Bitcoin will increase and the price of Bitcoin will increase a lot. Not only in the Philippines, when other countries take Bitcoin as their strategic reserve, the demand for Bitcoin will increase and the price will also increase a lot, but imagine what the position of Bitcoin will be when Bitcoin goes from a limited supply to the strategic reserve of different countries. If I imagine, I can see a time when people will not be in a position to buy 1 Bitcoin.

Huge news indeed for the fact that Philippines is joining Pakistan and Indonesia create a Bitcoin reserve. Those developments they made is good step that Bitcoin Strategic reserve creation is moving forward in Asia.

I've heard before that Malaysia,Hongkong and China(despite of banning) plan to create a Bitcoin Strategic reserve. But they didn't have any formal announcement or plan to do it for now.

I commend those leaders which aim for growth of their country and thinking about having a Bitcoin strategic reserve means that they have leaders that can adopt on the innovative changes on financial market. Let see on which of these Asian countries will be the first to fully implement or announce that they already passed this bill then made this plan successfully happen.

[Loyang]

If this happens, it will be very good for Pakistan.

https://timesofindia.indiatimes.com/technology/tech-news/pakistan-makes-a-bitcoin-promise-thanks-us-for-inspiration/articleshow/121488067.cms?utm_source=chatgpt.com

[Free Market Capitalist]

Huge news indeed for the fact that Philippines is joining Pakistan and Indonesia create a Bitcoin reserve. Those developments they made is good step that Bitcoin Strategic reserve creation is moving forward in Asia.

I've heard before that Malaysia,Hongkong and China(despite of banning) plan to create a Bitcoin Strategic reserve. But they didn't have any formal announcement or plan to do it for now.

We are currently experiencing relative calm with regard to the price, but there will come a time in the not-too-distant future when the current price will seem like a bargain. Apart from major players such as MSTR, who are already buying, and a host of small companies that are starting to do so, as soon as states really start buying, and the most logical thing is for them to do so with DCA, there will be a shock in demand that supply will not be able to meet, and that can only be solved with large price increases.

[fredericktaylor]

🇺🇸 Senator Cynthia Lummis says Bitcoin and crypto
market structure bill should pass by Christmas.

Regulatory clarity will drive the next phase of Bitcoin’s expansion.

source:  x

[Cpt_reader]

In 2015, the price of 1000 grams of gold was 116 Bitcoins. Currently, the price of 1000 grams of gold is 0.9 Bitcoins. Think about the next 10 years.



Source: https://x.com/BitcoinThanos/status/1958915340013891746?t=r0z2DHL93DAsKwV_RJW-FA&s=19

[Out of mind]

Five years ago, $MSTR adopted the Bitcoin Standard. Since then, we’ve outperformed every asset class and every Magnificent 7 stock. You can now track our annualized results daily at Strategy.com.


https://x.com/saylor/status/1958994216543015417?t=zzUR1-pv0t6f4S9r0JYhug&s=19