David Bailey, CEO of BTC Inc. and advisor to President-elect Trump’s campaign, has revealed that four undisclosed nations have agreed to establish strategic bitcoin reserve initiatives, hinting at the future organization of a Bitcoin G7.
Strategic Bitcoin Reserve Initiatives Allegedly Approved by Four Nations
The rise of bitcoin’s concept as a strategic international reserve asset in the U.S. has prompted talk and speculation on which country will be the first to implement these policies, and which ones will follow. David Bailey, CEO of BTC Inc. and advisor to President-elect Trump’s campaign, has offered some insight on the future of this paradigm and its alleged accelerated development at a nation-state level.
Bailey reported that four nations had already greenlit strategic bitcoin reserve initiatives similar to the ones discussed in the U.S. without disclosing the extent of these measures or the names of the nations involved in these processes.
On social media, Bailey stated:
At least four new countries have greenlit a Strategic Bitcoin Reserve. This is happening.
Furthermore, Bailey hinted at the future organization of a bloc of bitcoin-holding countries akin to today’s traditional international groups such as the Group of the Seven (G7). This group would presumably include the nation-states controlling the most bitcoin, including the U.S. and China, the top two holders in the world.
“G7 of Bitcoin has evolved from a joke to serious concept very quickly,” Bailey stressed. Max Keiser, a crypto advisor to Bukele’s administration in El Salvador, also recently hinted at a possible announcement linking bitcoin to oil trade settlements in the Muslim world.
Read more: Bitcoin Permabull Max Keiser Hints at Muslim World Petrobitcoin Announcement
Nonetheless, no public announcements on this kind of measure have been issued officially by any nation. However, some initiatives have been introduced in the U.S. and Brazil that seek to enact regulations to lay the legal foundations of a strategic bitcoin reserve.
“Bitcoin superpower is a very powerful meme and there’s just not enough BTC for everyone to be one,” Bailey concluded, highlighting the scarcity of BTC and the huge demand that is presumably coming from different nations. Before, he also declared the start of a bitcoin space race pitting countries vying for controlling more bitcoin.
Read more: US vs. China: Trump’s Aide Predicts New Bitcoin Space Race
