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US Bitcoin Reserve Could Cut National Debt by 35% by 2049, Says VanEck
In a recent report, asset management firm VanEck has proposed an intriguing solution to the mounting national debt in the United States. The company suggests that establishing a US Bitcoin reserve could potentially cut the nation’s debt by a staggering 35% by 2049.
According to the report, this feat would be achieved if the value of Bitcoin reaches $42.3 million per coin by the same year. This projected growth is based on an optimistic scenario where the cryptocurrency achieves sustained expansion amidst increasing adoption.
To achieve this ambitious goal, VanEck recommends that the US government allocates its existing 198,100 Bitcoins acquired through asset seizures towards the reserve. The remaining 801,900 Bitcoin required would be financed by selling gold reserves or leveraging Emergency Support Functions without relying on money printing or taxpayer funds.
The proposed plan’s feasibility is further reinforced by the potential impact of increased adoption by U.S. institutions and corporations, as well as the exploration of Bitcoin as a settlement currency for global trade by the BRICS nations. Additionally, speculation surrounding the new US government administration’s policy on Bitcoin has contributed to an energized market.
While VanEck acknowledges that significant barriers must still be overcome, including regulatory uncertainty and market concentration, the company believes that utilizing Bitcoin as a reserve asset could become a crucial milestone in addressing the national debt crisis and fundamentally alter the global economic order.
It is essential for readers to conduct their own research and consult with financial advisors before making any investment decisions based on this information.
Source: www.crypto-news-flash.com
