Bitrabo Editorial
An industry gathering on X saw significant figures such as Bitcoin Magazine CEO David Bailey, analysts Dylan LeClair, and Matthew Pines making bold claims sparking intense debates in financial and crypto circles. Bailey, a key Bitcoin advisor to Trump, stated that various central banks worldwide are actively acquiring Bitcoin.
Central Banks’ Bitcoin Acquisitions
Joe Carlasare from Amundsen Davis LLC reacted to Bailey’s claims made in collaboration with Dylan LeClair and Matthew Pines, mentioning the lack of evidence. Bailey pointed out countries like Bhutan, Venezuela, and Iran as early participants in central banks purchasing Bitcoin.
When questioned by Fred Krueger about countries beyond El Salvador, Bailey disclosed that Iran, Bhutan, and Venezuela, not major players, were active. He predicted larger central banks would join in soon. Mike Alfred supported Bailey’s assertion, mentioning discussions with representatives from Bhutan, Burkina Faso, and French Guyana, stating that they are indeed involved in buying Bitcoin.
Bailey highlighted Bhutan’s active participation in Bitcoin mining, aiming to upscale its mining capacity to 600 megawatts by mid-2025 from the current 100 megawatts, supported by a $500 million fund. Iran’s strategy to regulate Bitcoin mining domestically for economic stability was referenced.
Possible Bitcoin Strategy for Trump
Bailey speculated on the potential impact of the US government adopting Bitcoin, suggesting a scenario where ex-President Donald Trump secures a significant BTC reserve for the US Treasury using a timelock mechanism. This move could safeguard assets against financial volatility, positioning Bitcoin as a reserve asset.
Bailey proposed the idea of locking the 210,000 BTC currently held by the USA for 100 years to ensure it transcends administrations. Trump’s awareness of this possibility was noted, suggesting a transformative shift in global dynamics. The current BTC price stood at $66,211.