Brothers, don't misunderstand Trump's 'U.S. cryptocurrency reserve,'

it's not#BTC to replace gold and become central bank currency reserves, nor will it return to the 'Bretton Woods System' - you take $100,000 and ask the Americans to exchange it for pancakes.

There are four very realistic questions here:

1. The Americans don't have much Bitcoin either.
Are you asking them to spend dollars to buy it? The U.S. owes $36 trillion and is still running a fiscal deficit. The logic doesn't hold; using fiat currency to buy reserve assets? That's upside down.

2. Abandoning fiat currency and seigniorage, only a fool would do that.
The Americans control the dollar printing rights; when they need money, they borrow and issue dollars, and the whole world pays the bill. How do they increase issuance for BTC?

3. Threatening central fiscal security.
The U.S. government currently only has 200,000 Bitcoins, worth $20 billion, which is not enough to buy weapons for Ukraine. Most assets are in the private sector; even the most democratic countries wouldn't dare to play like this.

4. The value consensus of BTC is far lower than gold.
Functionally, it currently cannot serve as currency reserves.

What Trump might really want to do

1. Use crypto assets as a 'competitive' strategic reserve.
Similar to 'new energy vehicles,' there is a possibility that Eastern powers may challenge 'dollar hegemony' through digital currencies as an entry point, which was nearly limitless before '94. Trump has repeatedly stated that he wants the U.S. to become a global leader in Bitcoin mining.

2. Use crypto assets as a 'dollar' reservoir to de-leverage.
Not to rebuild a monetary system based on BTC, but to run parallel with the dollar system, using the dollar as an entry point, functioning similarly to real estate. If the U.S. dollar volume increases by $35 trillion, an equivalent amount of dollars would be locked up.

3. Rely on BTC appreciation and develop the digital economy.
Although having 200,000 BTC seems like a drop in the bucket for the Americans, as long as the government provides industrial policy support, projects making contributions will keep coming, and taxes are also a big factor.