Winklevoss Urges Nations: Stockpile Bitcoin Now
Winklevoss's Bitcoin Stockpiling Call to Nations
Gemini co-founder Cameron Winklevoss has issued a stark warning: nations must establish strategic Bitcoin reserves, comparing it to stockpiling essential commodities like gold and oil. He argues that delaying this crucial step will lead to increased costs, diminished geopolitical influence, and a significant loss of financial sovereignty.
Key Arguments for Bitcoin Reserves
- National Security: Winklevoss emphasizes that a strategic Bitcoin reserve is not a choice but a necessity for national security, mirroring the need to stockpile resources like rare earth minerals.
- Cost Efficiency: He advises acting quickly to acquire Bitcoin, highlighting that earlier adoption significantly reduces the cost per unit.
- Geopolitical Influence & Sovereignty: Delaying will result in a diminished position on the global stage and a loss of control over national finances.
Winklevoss's statement on X (formerly Twitter) underscores the urgency: “A Strategic Bitcoin Reserve is really not a choice if you look at the game theory and national security ramifications. It’s a must.”
Industry Leaders Support Bitcoin Reserves
Winklevoss isn't alone. Coinbase CEO Brian Armstrong also advocates for a national digital asset reserve, proposing Bitcoin as the primary asset due to its reliability as a store of value, and a potential replacement for gold. He even suggested a market capitalization-weighted index of crypto assets as an alternative if diversity is preferred, but stressed Bitcoin’s simplicity.
This sentiment contrasts with President Trump's suggestion to include altcoins like Ethereum, XRP, Solana, and Cardano. Tyler Winklevoss, however, stated that Cardano (ADA), while viable for listing on Gemini, isn't suitable for strategic reserves. Peter Schiff, a known Bitcoin critic, also questioned the inclusion of altcoins in a national reserve.
Charles Hoskinson, Cardano co-founder, defended the inclusion of XRP, highlighting its longevity and strong community. Further details on the proposed US crypto reserve are expected at the White House Crypto Summit on March 7th, according to David Sacks, the White House AI and crypto czar.
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