A Morgan Stanley analysis suggests that the United States would need to have an amount of $BTC valued at around $370 billion if cryptocurrency were to fully establish itself as a global monetary reserve asset.
This figure, calculated by the financial institution, represents approximately 18% of Bitcoin's current market capitalization, which stands at around $2 trillion.
The estimate is based on the analogy of how the major economies of the world manage their foreign currency reserves. According to data from the International Monetary Fund (IMF), the US dollar currently constitutes 57% of global foreign exchange reserves. The euro is in second place, accounting for 20%, while the Japanese yen, the British pound, and other currencies make up the remaining percentage.
However, if we include gold holdings, the greenback's share of total global reserves drops to 42%. In this scenario, the United States holds gold valued at about $600 billion, which is equivalent to nearly 17% of the global stock of this precious metal, estimated at $3.5 trillion.
Regardless of the course that the senator's legislative initiative takes, it is relevant to remember that the Presidential Council on Cryptoassets is mandated to present, before July 22, a strategy for the accumulation of bitcoins without impacting public finances.