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Bitcoin Should Be Added to Reserves, According to Former German FM
In a recent statement, former German Federal Minister of Finance, Peter Altmaier, has expressed his support for adding Bitcoin to the country’s reserve assets. This move would make Germany one of the first major economies to recognize Bitcoin as a viable asset for its reserves.
As reported by U.Today, Jeff Park, head of alpha strategies at Bitwise Invest, recently opined that there was just a 10% chance of the U.S. government establishing a Bitcoin reserve in 2024. Other countries are not considering whether or not they should potentially follow suit. However, Japan’s government has already expressed skepticism about the idea.
Despite achieving significant institutional adoption, Bitcoin remains a volatile asset, which might prevent it from becoming a reserve asset in major economies. However, Lindner has downplayed these concerns, arguing that precious metals are also volatile.
In his statement, Peter Altmaier emphasized that the traditional monetary policy instruments may no longer be sufficient to address the current economic situation, and therefore, Bitcoin should be considered as an additional tool for maintaining stability.
Source: u.today
