Changpeng Zhao is confident that there will be a quick race between countries to create a strategic Bitcoin reserve

4 months ago 0

Founder Binance Changpeng Zhao is confident that a race will soon begin between countries to purchase BTC and create a strategic Bitcoin reserve.

"No one can afford to be last."

It recently became known that the Polish presidential candidate announced plans to create a strategic Bitcoin reserve in case of victory in the elections.

Bitcoin reserve

In order for Bitcoin to become part of the gold and foreign exchange reserves of countries, several conditions must be met:

  1. Diversification: Countries are seeking to create alternative assets outside of traditional centralized financial systems.
  2. International payments: Ability to bypass restrictions on traditional financial transactions.
  3. Decentralization: The impossibility of blocking Bitcoin by third parties, which makes it attractive to countries that want to have an asset that is not subject to external influences.

However, there are also obstacles:

  1. Resistance from international organizations: The International Monetary Fund may oppose the use of Bitcoin as a reserve asset.
  2. Volatility: High volatility in the cryptocurrency market can lead to significant fluctuations in the value of a country's reserves.
  3. Legislation and regulation: Issues of legislation and support from international organizations may complicate the adoption of Bitcoin.

Thus, the inclusion of Bitcoin in gold and foreign exchange reserves may be interesting, but is fraught with risks and requires significant changes in legislation and regulation.

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