Anthony Pompliano Urges US To Print $250B For Strategic Bitcoin Reserve

Anthony Pompliano Urges US To Print $250B For Strategic Bitcoin Reserve

PENGY November 20, 2024, 3:03 am Facebook Twitter


Anthony Pompliano Urges US To Print $250B for Bitcoin Strategic Reserve

Bitcoin advocate Anthony Pompliano has called for the United States to allocate $250 billion for a Bitcoin Strategic Reserve. He proposed printing this amount and using it entirely to purchase Bitcoin as a financial safeguard against the devaluation of the dollar. This announcement comes as Bitcoin recently surged to an all-time high of over $94,000.

Anthony Pompliano Urges US to Print $250B for Bitcoin Reserve

Anthony Pompliano has outlined his vision for the United States to take a leading role in adopting Bitcoin as a national financial asset. He suggested that $250 billion be printed and directly invested in Bitcoin, which he referred to as a “technology product built to protect against currency debasement.” 

According to him, Bitcoin’s limited supply of 21 million coins makes it a powerful hedge against inflation. The Bitcoin advocate had also recently opined that Donald Trump needed to create the Bitcoin reserve seeing as other countries like El Salvador and Bhutan are warming up to it. 

In his recent statement, Pompliano highlighted the growing interest among corporations in holding Bitcoin on their balance sheets. He cited MicroStrategy’s performance in 2024 as an example of how Bitcoin ownership could benefit entities facing currency devaluation. He argued that nation-states should follow suit, emphasizing that early adoption would allow the U.S. to secure a substantial share of the finite digital currency.

Potential Impact of a $250 Billion Bitcoin Purchase

Bitcoin advocate Anthony Pompliano estimated that allocating $250 billion to Bitcoin could enable the United States to acquire approximately 1.6 million BTC, assuming an average purchase price of $150,000 per Bitcoin. Combined with the reported 200,000 BTC already in U.S. possession, this move would make the United States the largest Bitcoin holder globally, with a reserve of 1.8 million BTC.

The call for action comes amid increasing discussions among policymakers and financial leaders about Bitcoin’s role in national reserves. Senator Cynthia Lummis has already proposed the creation of a Bitcoin Strategic Reserve, while President-elect Donald Trump has expressed support for starting with existing government-owned Bitcoin. 

Prominent figures, including Robert F. Kennedy Jr., have also endorsed daily Bitcoin purchases as part of broader financial strategies alongside MicroStrategy Chairman Michael Saylor.

Mixed Reactions from VanEck and BlackRock

While the idea of a Bitcoin Strategic Reserve has garnered support from some quarters, it has also faced skepticism. Sources close to BlackRock, one of the world’s largest asset managers, told Fox Business that the firm does not currently endorse the concept. 

Meanwhile, VanEck, another major financial institution, has publicly backed the idea, signaling growing institutional interest in Bitcoin.

Pompliano’s proposal also aligns with global trends as other nations explore similar strategies. In Poland, presidential candidate Slawomir Mentzen has advocated for a Bitcoin reserve, citing Bitcoin’s growing value and adoption as reasons to integrate it into national policy. These discussions are taking place against the backdrop of Bitcoin’s price rise tally to an ATH above $94,000, which has attracted increased attention from investors and policymakers worldwide.

Subsequently, Bitcoin advocate Anthony Pompliano has framed Bitcoin as a tool to address the challenges of dollar devaluation and rising national debt. He argued that the U.S. must act quickly to secure a dominant position in Bitcoin ownership before other nations do.

“This is the type of action that would cost us very little financially but could have a profound impact on our financial health in the future,” Pompliano stated.

The post Anthony Pompliano Urges US To Print $250B For Strategic Bitcoin Reserve appeared first on CoinGape.

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