Can Bitcoin Become a Global Reserve Asset?

[Fiatless]

That needs approval from all governments which will not be easy. They will not easily make Bitcoin a legal financial instrument because they realize they can't control Bitcoin. But with some countries using Bitcoin as a global reserve asset, that can make other countries follow in their step. We just wait and see when that will happen but we can prepare ourselves for the coming. It will need more time for Bitcoin while the adoption process continues. If the government can research of what benefits they can get from Bitcoin, that can change their minds and they will use Bitcoin as a reserve.

Maybe other countries are waiting for the US to make the first purchase before they can kickstart the use of Bitcoin as a reserve currency. The government already knows that investing in Bitcoin is profitable but they are not comfortable with a decentralised asset. Unlike gold, Bitcoin is also a new asset, so they might be waiting for it to get more global recognition.

[Danica22]

That needs approval from all governments which will not be easy. They will not easily make Bitcoin a legal financial instrument because they realize they can't control Bitcoin. But with some countries using Bitcoin as a global reserve asset, that can make other countries follow in their step. We just wait and see when that will happen but we can prepare ourselves for the coming. It will need more time for Bitcoin while the adoption process continues. If the government can research of what benefits they can get from Bitcoin, that can change their minds and they will use Bitcoin as a reserve.

Maybe other countries are waiting for the US to make the first purchase before they can kickstart the use of Bitcoin as a reserve currency. The government already knows that investing in Bitcoin is profitable but they are not comfortable with a decentralised asset. Unlike gold, Bitcoin is also a new asset, so they might be waiting for it to get more global recognition.

I also think no country will have the courage to make bitcoin a strategic reserve if the US doesn't do it. Most countries are waiting for the United States to act because after all they are still the world's leading superpower.

But I think governments are not looking for assets that can make them a profit. Instead, they are looking for assets that provide safety and that is why they still choose gold over any other potential asset. Also, what they are concerned about is that bitcoin is relatively new, not because it is decentralized, because gold is also a decentralized asset.

[mrust_mobile]

It would solve so many problems if it did. Right now gold is a reserve asset but we don’t know for real if some countries really have the gold they tell us they have. It is because we can’t go and check the vaults of a central bank and verify their reserves with our own eyes but it can be done with btc so easily. Let’s say central bank a says they have 1000 btc in their reserves. They can sign a message from that address and prove their ownership instead of letting random people visit their gold inventory room.

Right now it is not the most realistic expectation sadly as many countries are corrupt to the bone and they simply can’t handle the honesty of bitcoin.

[ChocolateBitcoinK]

Bitcoin will not suddenly become a reserve asset worldwide, it will take time. Bitcoin is a limited resource and it is not possible to create more of it, so the risk of inflation of Bitcoin is low. In addition, we know that Bitcoin is not controlled by any center, so it is usable globally. However, to become a reserve asset, various institutions, countries and ordinary people must have confidence in Bitcoin. In addition, Bitcoin must be recognized as legal tender, only then will people be able to use it in business or daily transactions. Basically, in this way, the acceptance of Bitcoin will gradually increase and it will become a global reserve asset.

[Razmirraz]

Now it is no longer a "potential", but several countries have taken the wise step of making Bitcoin a reserve asset, the Czech National Bank has also considered including Bitcoin in its country's foreign exchange reserves. The increasing trust in Bitcoin is happening naturally due to its increasingly widespread growth, perhaps in the future more and more countries and institutions will adopt Bitcoin as their reserve asset.

Bitcoin scarcity or limited supply can make it a reliable asset against inflation and allow its value to increase in the future. Its continuously increasing price is a very strong attraction in the increasing institutional adoption and global economic policies that are no longer dependent on fiat currencies.

[ginsan]

That needs approval from all governments which will not be easy. They will not easily make Bitcoin a legal financial instrument because they realize they can't control Bitcoin. But with some countries using Bitcoin as a global reserve asset, that can make other countries follow in their step. We just wait and see when that will happen but we can prepare ourselves for the coming. It will need more time for Bitcoin while the adoption process continues. If the government can research of what benefits they can get from Bitcoin, that can change their minds and they will use Bitcoin as a reserve.

Maybe other countries are waiting for the US to make the first purchase before they can kickstart the use of Bitcoin as a reserve currency. The government already knows that investing in Bitcoin is profitable but they are not comfortable with a decentralised asset. Unlike gold, Bitcoin is also a new asset, so they might be waiting for it to get more global recognition.

That is quite reasonable, big countries must first buy to be their strategic assets, such as the US, Russia, China or Saudi Arabia purchasing bitcoin will have additional confidence for other countries under them and of course be a motivation, unfortunately today big countries only hold bitcoin from confiscation not from the results of their purchases.

And that bitcoin is an asset that has only been born since 2009, not long ago and its credibility is still very questionable, bitcoin needs time if it wants to get recognition from the state, but before that we should have more bitcoin in our wallets so that when the state accumulates we already have it early, it will be a great story and the benefits for early adopters will be very high.

[Hamza2424]

‎In order for Bitcoin to become reserve global asset more countries, individuals, institution must agree to use it.
‎So when the government see it as a legal financial instrument and also the businesses and consumer use it daily for transaction and saving, then Bitcoin can become a Global Reserve Asset in the world.

Bitcoin can't be stable so it can't be the main asset in the reserves of a country to make the economy more stable it can serve as a investment for the government, the governments can name this investment as adding to national reserve to keep the citizens and other entities calm so they won't start making accusations and pointing fingers at anyone, because now the funds are in reserves.

USA started the chain although they have not announced any plans to invest but they are using the bitcoins they have seized from the hackers and scammers. They are very clever seriously haha, anyways, bro bitcoin must be taken as investment by these governments if they think the economy needs to be stable so they need to add btc in reserves that's wrong, they need more stable investments like Gold.

[Fiatless]

I also think no country will have the courage to make bitcoin a strategic reserve if the US doesn't do it. Most countries are waiting for the United States to act because after all they are still the world's leading superpower.

But I think governments are not looking for assets that can make them a profit. Instead, they are looking for assets that provide safety and that is why they still choose gold over any other potential asset. Also, what they are concerned about is that bitcoin is relatively new, not because it is decentralized, because gold is also a decentralized asset.

Almost everything you have said here makes sense to me. Many countries see the US as a role model, hence they copy economic policies from that country. We might see an increase in nations enacting laws that make provision for a Bitcoin reserve if the US gets serious and starts stockpiling. You are correct that these nations just want an asset that could serve as a hedge against inflation. But there is no way we can overlook the profits that can accrue as they hodl Bitcoin.

[ashmodeus]

Bitcoin can't be stable so it can't be the main asset in the reserves of a country to make the economy more stable it can serve as a investment for the government, the governments can name this investment as adding to national reserve to keep the citizens and other entities calm so they won't start making accusations and pointing fingers at anyone, because now the funds are in reserves.

USA started the chain although they have not announced any plans to invest but they are using the bitcoins they have seized from the hackers and scammers. They are very clever seriously haha, anyways, bro bitcoin must be taken as investment by these governments if they think the economy needs to be stable so they need to add btc in reserves that's wrong, they need more stable investments like Gold.

I believe Bitcoin can stabilize, but the market hasn't reached that point yet. However, growth is currently moving in that direction. To accelerate this process, widespread adoption is crucial. With wider adoption, Bitcoin has the potential to become a reserve asset, like gold. Furthermore, support from major economies could be a catalyst, encouraging other countries to follow suit. Therefore, I personally don't rule out Bitcoin becoming a reserve asset in the future, provided it continues to develop sustainably.

[harapan]

Yes it's possible to become the world global reserve Asset,
‎The fact that Bitcoin could become a global reserve asset has generated alot of attention in this modern years.
‎When we are talking about a global reserve Asset we are talking about an element that countries and the central banks handle to support their currencies, pay their international debit and sustain the economic stability.
‎In order for Bitcoin to become reserve global asset more countries, individuals, institution must agree to use it.
‎So when the government see it as a legal financial instrument and also the businesses and consumer use it daily for transaction and saving, then Bitcoin can become a Global Reserve Asset in the world.

Yes. It has been mathematically proven over the years that it has come to stay and it can not be altered with. The dominance it’s already have over the years are obvious. 17 years without any sign of being tampered with and being transparent is enough for everyone to see.
Top countries are making good uses of it already. Both the dominating countries in Asia, and Europe. Salvador and Germany are talked about a lot using Bitcoin. And if we are to talk about institutions and individuals using it, millions of people are jumping into this inventory because it us part of the way forward. Big industry's like Blackrock and Microstrategy  are examples

[AprilioMP]

Yes it's possible to become the world global reserve Asset,
‎The fact that Bitcoin could become a global reserve asset has generated alot of attention in this modern years.
‎When we are talking about a global reserve Asset we are talking about an element that countries and the central banks handle to support their currencies, pay their international debit and sustain the economic stability.
‎In order for Bitcoin to become reserve global asset more countries, individuals, institution must agree to use it.
‎So when the government see it as a legal financial instrument and also the businesses and consumer use it daily for transaction and saving, then Bitcoin can become a Global Reserve Asset in the world.

That's how it would be if Bitcoin became a global reserve asset if all countries agreed. Bitcoin remains as basic as a decentralized currency that is not controlled by any party other than the Bitcoin owner. If the country has a central bank, then we support it. I think that's where the problem lies because the government wants everything to be under their control, including control of the financial system.
But I'm glad you know. Several countries have planned to make Bitcoin a reserve asset with the amount of Bitcoin they have.

[karabiber]

Cryptocurrencies are inherently speculative assets and lack stability. To serve as a reserve currency, stability must be maintained. Because no one would want a reserve asset that suddenly drops or rises by 10%. But Bitcoin can be a good store of value. If people hold onto their Bitcoin for many years, they will achieve good value.

Bitcoin can currently serve as a reserve asset for individuals, but I consider the likelihood of it becoming a reserve asset between nations to be low. Bitcoin's transaction speed, payment convenience, and most importantly, its transformation into a store of value will actually encourage individuals to invest more in Bitcoin.

[Zigabel]

Yes it's possible to become the world global reserve Asset,
‎The fact that Bitcoin could become a global reserve asset has generated a lot of attention in this modern years.
‎When we are talking about a global reserve Asset we are talking about an element that countries and the central banks handle to support their currencies, pay their international debit and sustain the economic stability.
‎In order for Bitcoin to become reserve global asset more countries, individuals, institution must agree to use it.
‎So when the government see it as a legal financial instrument and also the businesses and consumer use it daily for transaction and saving, then Bitcoin can become a Global Reserve Asset in the world.

It is sure very possible for Bitcoin to attain that height, but just before then, a lot of things will need to be taken care of, for as asset that will be used for payments, there has to be some stability with values and that will be achieved to an extent probably after all of Bitcoin has been mined completely. But then even without that Bitcoin has been considered the reserve already with some countries, they are probably ceasing the opportunity the volatility with Bitcoin currently gives, because wit that, they get some good increase and profit in the value of their assets over the years as they maintain a position to HOLD.

[minairia3]

Cryptocurrencies are inherently speculative assets and lack stability. To serve as a reserve currency, stability must be maintained. Because no one would want a reserve asset that suddenly drops or rises by 10%. But Bitcoin can be a good store of value. If people hold onto their Bitcoin for many years, they will achieve good value.

Bitcoin can currently serve as a reserve asset for individuals, but I consider the likelihood of it becoming a reserve asset between nations to be low. Bitcoin's transaction speed, payment convenience, and most importantly, its transformation into a store of value will actually encourage individuals to invest more in Bitcoin.

Bitcoin has the potential to become a global reserve asset like gold because it is decentralized and has a finite supply. These are the top criteria of a safe haven and so far, very few assets have met all of them. But the truth is that limited supply and decentralization won't be enough for governments to recognize bitcoin as a safe haven and choose it as a national reserve. Bitcoin also needs to be stable and this is equally important. Because the role of national reserves is to prevent risks, ensure security and support the national economy. Using volatile assets as national reserves can pose risks to the national economy.

So it can be said that as long as bitcoin remains volatile, there will be little chance of it being recognized and used as a global asset.

[ImGenius]

Bitcoin is a hot digital asset in the modern era. Its supply is limited, so it offers some protection against inflation. We are seeing its acceptance gradually increasing worldwide, which is creating an opportunity to think of it as a store of value like gold. The volatility of Bitcoin's price still leaves a mark on people's minds: sometimes we see the price increase very much, then suddenly decrease, which creates uncertainty for the reserve asset. In addition, the long-standing influence of the dollar and gold and legal uncertainty in many countries prevent Bitcoin from becoming a full-fledged reserve. So it can be said that Bitcoin has potential, but it still needs more time, stability and trust to become a global reserve asset.

[el kaka22]

Considering there are already plenty of nations that seizes bitcoin from criminals and do not sell it, can't we technically say that it has become a reserve? Plus, it's the best one since the value has gone up more than everything else, which means that nations that sold their bitcoins must be regretting.

I remember Germany sold it when it was already low, made it even lower, we were angry at the time because there were no reason for them to sell, UK did the same thing to pay off a few things. I mean it makes no sense because even if you "need" money, as a nation you do not have to sell anything, you can either just print like you always do, or you could just tax people more like you always do, which sucks both of them, so they went with even worse.

[Coyster]

Right now so many countries are stockpiling on gold and adding to their gold reserves. Could it possibly be bitcoin in the future? Yes, possibly, but it would take a lot of time. Bitcoin is still very volatile and many institutions are yet to accept it because of that. We read stories of lawmakers in certain nations proposing the idea of the nation setting up their own bitcoin reserve, but nothing concrete yet and the bill is hardly successful.

That said, the idea of bitcoin being a global reserve asset will not make it more attractive than it already is, and many bitcoiners do not even like the idea of big institutions stockpiling on bitcoin. What i am saying is that it is not something that must happen for bitcoin to be much more successful.

[HelliumZ]

Yes it's possible to become the world global reserve Asset,
‎The fact that Bitcoin could become a global reserve asset has generated alot of attention in this modern years.
‎When we are talking about a global reserve Asset we are talking about an element that countries and the central banks handle to support their currencies, pay their international debit and sustain the economic stability.
‎In order for Bitcoin to become reserve global asset more countries, individuals, institution must agree to use it.
‎So when the government see it as a legal financial instrument and also the businesses and consumer use it daily for transaction and saving, then Bitcoin can become a Global Reserve Asset in the world.

You may know that Bitcoin is already being valued as a reserve asset in several countries, especially in El Salvador, Kazakhstan, the United Arab Emirates, and even Bhutan. Bitcoin is already being stored as a reserve asset in all these countries.
However, in the coming days, it will also gain importance as a reserve asset in other countries, but one obstacle is that the unstable state of the Bitcoin market has become a cause of tension at the moment. Occasionally, large-scale liquidations make it difficult to consider it as a reserve currency, but this situation will not seem very serious in the near future.

[Abiky]

Cryptocurrencies are inherently speculative assets and lack stability. To serve as a reserve currency, stability must be maintained. Because no one would want a reserve asset that suddenly drops or rises by 10%. But Bitcoin can be a good store of value. If people hold onto their Bitcoin for many years, they will achieve good value.

Bitcoin can currently serve as a reserve asset for individuals, but I consider the likelihood of it becoming a reserve asset between nations to be low. Bitcoin's transaction speed, payment convenience, and most importantly, its transformation into a store of value will actually encourage individuals to invest more in Bitcoin.

Well, Gold isn't stable either. It's less-volatile than crypto, but not stable. Around a month ago, Gold hit a new ATH of over $4.2k. Now it went back to $4k. If Gold is already a reserve asset (despite slight volatility), then Bitcoin can easily become a Global Reserve Asset. It's the next big thing.

When you see big institutions, banks, and governments buying and holding BTC, you'll notice that something big is coming. Countries may be stockpiling Gold now, but in the future, they will be stockpiling only BTC. It will be an "arms race" of who accumulates the most Bitcoin. Once everybody is on the train, BTC will soar way beyond $1m. Just you wait and see.

[Pi-network314159]

Yes it's possible to become the world global reserve Asset,
‎The fact that Bitcoin could become a global reserve asset has generated alot of attention in this modern years.
‎When we are talking about a global reserve Asset we are talking about an element that countries and the central banks handle to support their currencies, pay their international debit and sustain the economic stability.
‎In order for Bitcoin to become reserve global asset more countries, individuals, institution must agree to use it.
‎So when the government see it as a legal financial instrument and also the businesses and consumer use it daily for transaction and saving, then Bitcoin can become a Global Reserve Asset in the world.

Bitcoin is already becoming a global reserved asset, all it takes is more adoption, but even as it is right now Bitcoin has gained popularity an has been adopted by many countries, only that it has not lasted enough unlike Gold, Gold has been the reserved assets for decades now and people where skeptical about Bitcoin since it's a digital asset than can go zero at anytime do to high volatility, but with the test of time it hasn't failed and instead of going down as predicted by many, it goes even higher despite volatility make it have an oscillating movement, it is still doing well. Many countries have Bitcoin as their reserved asset even they don't make it publicly. Don't be deceived.