Central Banks Consider Bitcoin: Insights from Industry Leaders
In an discussion including Bitcoin Magazine CEO David Bailey, Dylan LeClair, and Matthew Pines’ comments have triggered a fierce debate in financial and crypto circles.
Many central banks from all over the world are currently buying Bitcoin,” claimed Bailey who advises President Donald Trump on bitcoin.
“David Bailey said that some central banks are buying Bitcoin in session with Dylan Leclair and Mathhew Pines,” Joe Carlasare from Amundsen Davis LLC noted, stressing the firm statement made by the speaker but without providing evidence for it. A case in point is Bhutan, Venezuela, Iran among others which are mentioned as early pioneers of this new form of money.
Mike Alfred is a former tech CEO and cofounder of an investment fund; he supported what David Bailey said basing his argument on discussions between himself and officials from three countries- Bhutan, Burkina Faso & French Guyana. According to Alfred, “They are. Bhutan confirmed this to me.” This indicates that sovereign wealth funds are increasingly joining this trend.
READ MORE: Robert Kiyosaki Urges Investment in Bitcoin Despite High Prices
Bailey talked about how Bhutan became intensely involved in Bitcoin mining being a partner of Bitdeer Technologies with a plan to raise mining capacity significantly by mid-2025. The move is part of the $500 million initiative aimed at diversifying its economy away from hydroelectricity reliance.
Iran also has plans to control its own mined BTC for economic stability amid US sanctions according to Bailey. He even went ahead asking whether Trump could amass such huge BTC reserves for the US Treasury while suggesting long-term timelock as a guard against any future financial crisis.
“Bitcoin could become a reserve asset if it happened,” added Bailey predicting how Trump’s decision might shape global economics or regional politics going forward.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
