Upon viewing Nic Carter’s recent Bloomberg discussion, I couldn’t suppress my disagreement. Carter, a respected Bitcoin enthusiast, argued that the US should not and will not incorporate Bitcoin into their strategic reserves, as it may ostensibly depict the dollar’s vulnerability on a global scale. Though I understand his perspective, I vehemently disagree. Rather, I believe the exact converse to be true.
From my standpoint, incorporating Bitcoin into the US reserves would be a substantial demonstration of power. This move would convey to the world that the US recognizes Bitcoin for its actual value: a financial safeguard or a “digital gold,” rather than a rival to the dollar.
The US already possesses an array of assets in its reserves, including crude oil, diesel, uranium, foreign currencies, and over $500 billion in gold. These holdings do not detract from the dollar’s strength. On the contrary, they bolster confidence in the dollar’s stability. The inclusion of Bitcoin would yield similar results.
Now, let’s consider the risk associated with excluding Bitcoin. If the US decides against including Bitcoin in its reserves, it communicates a perilous message: that the US perceives Bitcoin as a threat rather than a potential ally. And here lies the crux of the matter—if the US fails to act, another influential nation will seize the opportunity.
Picture the scenario if China or Russia begins to amass Bitcoin and presents it as a dollar alternative. This notion is genuinely worrisome for the US. However, if the US decides to invest in Bitcoin, it would completely alter this narrative. It would integrate Bitcoin into the US financial system, demonstrating to the world that Bitcoin is not a threat; rather, it forms part of the dollar’s ecosystem. Similar to how possessing gold reserves does not undermine the dollar, acquiring Bitcoin would only enhance confidence in the US on a global scale.
It’s also worth remembering that Bitcoin has outperformed all other assets over the past decade. If you’re an American, wouldn’t you want your country to boast the best asset in its reserves? It might even contribute to reducing some of the $36 trillion debt someday.
So yes, I believe Nic Carter’s viewpoint on this matter is misguided. Including Bitcoin in the US reserves wouldn’t indicate weakness—it would symbolize confidence, strength, and progressive leadership. If the US aims to maintain its lead, it needs to act before another nation steps up.
This piece is an opinion article. The views expressed are solely those of the author and do not necessarily represent the views of BTC Inc or Bitcoin Magazine.
