Unchained

Bits + Bips: Why a US Strategic Crypto Reserve Doesn’t Even Make Sense - Ep. 794

Mar 5, 2025
Guest
Steven Ehrlich
Guest
Steve Hou
Steve Hou, a Quantitative Researcher at Bloomberg LP, and Steven Ehrlich, Executive Editor at Unchained, delve into the implications of Trump’s proposal for a U.S. strategic crypto reserve. They discuss whether such a reserve could backfire and spark skepticism about crypto. The gang addresses the upcoming White House crypto roundtable and its potential impact. Topics like the rush of new cryptocurrency ETFs and the dynamics of stablecoins versus traditional banking also come up, providing insight into the evolving landscape and future catalysts for the market.
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INSIGHT

Crypto Reserve Controversy

  • Trump's proposal of a strategic crypto reserve, including altcoins, sparked mixed reactions, with many crypto leaders expressing disapproval.
  • This move raises concerns about potential quid pro quo and the lack of a clear rationale for including altcoins.
INSIGHT

Strategic Reserve Risks

  • A US strategic crypto reserve raises concerns about political and economic risks, especially signaling a lack of faith in the US dollar.
  • The inclusion of altcoins like Solana, Cardano, and XRP in the reserve is questionable due to their characteristics and limited real-world use cases.
INSIGHT

Crypto's Ideological Loyalties

  • Steve Hou's evolving perspective on crypto acknowledges its market value while questioning the strategic nature of a reserve.
  • He highlights the potential for assets to have ideological loyalties in a multipolar world and questions the inclusion of unlimited supply coins.
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