U.Today – Ki Young Ju, founder and CEO of cross-chain analytics company CryptoQuant, took to social media to share his opinion on the prospects of the US adopting the standard in the near future.
He believes such adoption is somewhat unlikely, explaining why it may not happen.
A big problem with the US Bitcoin standard per June
Ki Young Jo posted a long read, explaining why he has strong doubts about the US adopting the Bitcoin standard in the near future. Joe remembers the late 1990s, when gold enthusiasts, including Peter Schiff, began calling for the US dollar to return to the gold standard.
However, Joe said, it happened during the economic crisis. Overall, Joe said, gold has risen throughout the entire history of the United States, at times when the United States “perceived a threat to its dominance of the global economy” and discussions about the gold standard began to gain momentum.
Something similar is happening not with regard to gold, but with regard to Bitcoin, where Bitcoin enthusiasts and die-hards are in favor of adopting the Bitcoin standard. “Now, Bitcoin seems to be filling the ideological space that gold once occupied,” Ki Young Joo said.
Joe admitted that he fully supports the idea of the United States adopting the Bitcoin standard. However, he doubts that the United States will embrace Bitcoin as a strategic asset. For that to happen, the country will have to confront a major threat to its global economic dominance.
The US government may actually start buying and accumulating Bitcoin to manage risk or economic leverage, however, this could happen for very different motives than Bitcoin users think.
