While a strategic Bitcoin reserve may be good for price action, the US Treasury controlling 19% of the BTC supply raises unprecedented centralization concerns.
The idea of Bitcoin becoming the reserve asset of the United States poses significant centralization risks for the world’s first cryptocurrency despite being an optimistic price catalyst, according to Charles Hoskinson.
Making Bitcoin a reserve asset for the US was recently floated by presidential candidate Robert F. Kennedy Junior, who said that he would sign an executive order for the US Treasury to purchase a total of 4 million Bitcoin (BTC) worth over $242 billion at today’s valuation.
Notably, that would represent 19% of the Bitcoin supply, said Charles Hoskinson, co-founder of Input Output Global and Cardano.
