The madness of creating a Bitcoin reserve continues! A giant blockchain project is also preparing to create a Bitcoin reserve! Here are the details.
Members of the Polkadot community have proposed a new initiative to create a strategic reserve of Bitcoin for the benefit of the network's treasury.
The Polkadot community proposes to create a strategic reserve of Bitcoin using treasury funds.
The plan currently being discussed in the Polkadot governance forum suggests allocating 501,000 $DOT (the native Polkadot token) to gradually purchase $BTC , a decentralized token backed by Bitcoin.
Under this proposal, the BTC purchase will be executed over one year using a Dollar Cost Averaging (DCA) mechanism from Hydr,ation, providing a stable and risk-free entry into the Bitcoin position.
Once purchased, the BTC will be deposited in Hydr, ation as liquidity, taking advantage of the custody-free Bitcoin bridge of the Thre,,shold network to maintain full decentralization and asset security.
Proponents of the proposal argue that this move will diversify the Treasury's investments, provide a hedge against market volatility, and enhance liquidity.
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