Forget a Bitcoin Reserve – about a Dogecoin Government waste?
That's the idea floated by former-joke-now-serious-cryptocrypto founder Billy Marcus on Twitter.
“Why not a national Dogecoin reserve [sic]” he wrote on Friday.
Marcus was responding to a post by Calci of Prediction Markets where punters were looking at the possibility of President-elect Donald Trump creating a strategic bitcoin hoard.
Trump has previously said that while in office he would allow the US government to buy bitcoin as a reserve. The US already has assets like land, treasuries and gold in its reserves.
Only Republican Senator Cynthia Lammis from Wyoming They spoke to the Decrypt How such a plan works this month.
As Bitcoin progresses, floating such an idea isn't as crazy as it sounds. With a market cap of $1.8 trillion, it's an orange coin. currently The seventh largest asset in the world, after this month both silver and Saudi Arabia's petroleum and natural gas company Saudi Aramcon.
Dogecoin (DOGE)On the other hand, it is the sixth-largest cryptocurrency—with a market cap of just $55 billion. The coin was and is created as a joke. Established A Shiba Inu dog in a popular internet meme.
Still, it gained momentum in 2020-2021 after Tesla CEO and future US government employee Elon Musk constantly talked about how much he liked the virtual coin. The tech entrepreneur and world's richest man (apparently) is serious too. They spoke Regarding how the property can be used for payments.
and Wall Street analysts They spoke Decrypt It won't be long before the asset is available to traditional investors through exchange-traded funds (ETFs). Meanwhile, crypto analysts also said Decrypt That DOGE can easily. It broke the all-time price record As of 2021, with plenty of room to run.
Things are suddenly getting very serious with the leading meme coin. But until the reality of Bitcoin's strategic reserve becomes a reality, the notion of Dogecoin may remain little more than a whimsical idea. Stranger things have happened in crypto, though.
Edited by Andrew Hayward.
Daily Debrief Newspaper
Start every day with top news stories, plus original features, podcasts, videos and more.
