To investors,
The Financial Times reported this morning that Binance, the world’s largest crypto exchange, has been advising numerous countries and sovereign wealth funds on crypto policy and establishing a strategic bitcoin reserve.
It makes sense that countries would reach out to industry players to ensure they have informed views on policy. This happens in every industry and in most countries. But the part of today’s article that caught my attention is that so many nation states are considering a strategic bitcoin reserve.
This is the game theory that bitcoiners have been talking about for decades. Once one large nation starts to acquire bitcoin, all countries are incentivized to compete to acquire bitcoin. This graphic perfectly explains the dilemma countries face now:
A strategic bitcoin reserve was a cute idea when El Salvador or Bhutan were doing it. Those countries could be easily ignored by the mainstream media and larger countries (although I wouldn’t be so fast to discount them!). But it is not possible to ignore the United States of America — the greatest economy ever constructed in human history.
If America says bitcoin is strategically important, then other countries will start seeing the asset that way as well. And it sounds like the Financial Times is reporting this theory is being supported by action right now across the globe.
This week we also saw another interesting development out of Panama City. Mayer Mizrachi Matalon shared with me that the “Panama City council has just voted in favor of becoming the first public institution of government to accept payments in Crypto. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, USDT.”
This is noteworthy because we are watching countries embrace bitcoin and cryptocurrencies in a multitude of ways — some are buying and holding, some are allowing crypto payments, some are mining, and others are probably doing things that they haven’t revealed yet.
While it may be tempting for bitcoiners to yell “I told you so!,” I think it is much more important that we collectively keep our foot on the gas. There is more educating that needs to be done. There is more progress that needs to be made. Stay focused on the inputs to the process. The price will take care of itself.
Hope you all have a great day. I will talk to everyone tomorrow.
- Anthony Pompliano
Founder & CEO, Professional Capital Management
DC Power Broker Explains What Government Is Doing With Bitcoin
David McIntosh is the President of “The Club For Growth” and the Co-Founder of The Federalist Society.
In this conversation we talk about bitcoin, stablecoins, what is going on inside the US government, taxes DOGE, tariffs, and much more.
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