PANews December 28 news, CryptoQuant founder and CEO Ki Young Ju posted on the X platform: "Throughout history, whenever the United States feels that its dominance in the global economy is threatened, gold prices will soar and the debate around the gold standard will get attention. In the late 1990s, Peter Schiff advocated that gold is the real form of currency, just as today's Bitcoin extremists advocate Bitcoin. These supporters, known as "gold bugs", hope to restore the gold standard. However, despite the resurgence of interest during the economic crisis, the United States has always avoided this transition and relied on creative solutions to maintain growth. Over the past 50 years, the gold standard has been a relic of the past. Now, Bitcoin seems to be filling the ideological space once occupied by gold. I personally support the idea of the Bitcoin standard.
However, I doubt that the United States will continue to grow while other economies stagnate and adopt Bitcoin as a strategic asset. For this debate to gain significant ground, the United States needs to see a real threat to its global economic dominance. Currently, market sentiment indicates confidence in the continued dominance of the United States. While it is conceivable that the US government may purchase Bitcoin for risk management or economic leverage, its motivations may be very different from what Bitcoin holders imagine. The idea of buying Bitcoin to prepare for the Bitcoin Standard or as a tool to defend the dollar system seems far from current reality. With global capital flowing into the United States, many people still believe that the dominance of the US dollar is secure. Even before taking office, Trump constantly warned other world leaders that there is a power gap between the United States and other countries. This rhetoric, coupled with increased capital inflows into the US dollar, may revive people's confidence in the hegemony of the US dollar. Around me, many Koreans choose the US dollar as a safe haven instead of gold or Bitcoin, especially as the won depreciates.
If Trump succeeds in demonstrating the resilience of the US economy, consolidating the hegemony of the dollar and boosting his approval ratings, it is unclear whether he will continue the strong pro-Bitcoin stance he displayed during the campaign. He could easily abandon his advocacy for Bitcoin, citing a change in priorities, without alienating his voter base. It is undeniable that Trump is a skilled politician with the ability to strengthen the US position. However, the extent to which he intends to live up to his campaign rhetoric about Bitcoin remains uncertain. At the Bitcoin Conference, Trump mentioned that Bitcoin is a strategic asset. Is this a real step in his preparation for the Bitcoin Standard, or is it just a calculated move to gain votes?
