Industry executives are reportedly seeking seats on United States President-elect Donald Trump’s highly-anticipated crypto advisory council, which will be responsible for crafting regulatory policy and is expected to help establish a Bitcoin strategic reserve.
Speaking at the North American Blockchain Summit on Nov. 21, Bitcoin advocate and co-founder of the Satoshi Action Fund Dennis Porter explained the importance of establishing a Bitcoin strategic reserve in the United States:
"A great way for us to protect ourselves from outside influence — undue influence from our foreign adversaries — is to be in the market buying and selling Bitcoin, acting as a shock absorber for all the incredible Bitcoin miners that we have here in this country."
“We bought these things for pennies on the dollar,” Porter said, adding that the US has a similar option today in adopting Bitcoin as a reserve asset before other countries beat it to the punch.
The race is on for a Bitcoin strategic reserve
Still, not all industry participants are optimistic about a Bitcoin strategic reserve being established under the incoming Trump administration.