He believes this adoption is rather unlikely, explaining why this might not happen.
However, Ju said, that happened during an economic crisis. Overall, Ju said, gold has surged, throughout the whole U.S. history, at times when the United States “perceived a threat to its dominance in the global economy” and debates about the gold standard would begin to gain traction.
A similar thing is happening about not gold but Bitcoin as BTC enthusiasts and maximalists are advocating for adopting the Bitcoin Standard. “Now, Bitcoin seems to be filling the ideological space once occupied by gold,” Ki Young Ju stated.
Ju admitted that he thoroughly supports the idea of the U.S. adopting the Bitcoin Standard. However, he doubts that the U.S. would adopt Bitcoin as a strategic asset. In order for that to happen, the country will have to face a significant threat to its global economic dominance.
The U.S. government may indeed begin to purchase Bitcoin and stack it for risk management or economic leverage, however, it could happen for totally different motivations than Bitcoiners think.
This article was originally published on U.Today
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