A Dutch entrepreneur recently wrote an open letter to the Government of Netherlands urging them to establish a National Bitcoin Reserve. The letter, which has been addressed to the Minister of France, the government and the board of De Nederlandsche Bank (DNB), proposed that the Ministry of Finance could reallocate a portion of its current gold reserve and buy Bitcoin (BTC) instead as per BSCN.
The Case for Bitcoin
Kanstein believes that BTC has the potential to help the economic stability and sovereignty. He even calls BTC as ‘hard money’ with a limited supply which is resistance from political manipulation and is secured by decentralized technology. The entrepreneur also argued that the in today’s world where there is excessive inflation and rising debt, BTC provides a perfect viable solution.
Global Recognition of Bitcoin’s value
This proposal also indicates the recognition of the BTC’s value. For instance, U.S. Federal Reserve Chairman Jerome Powell declared BTC as the competitor to gold. Additionally, BlackRock, the world’s largest asset manager, has projected significant long-term adoption of BTC, citing its potential as global financial alternative.
A Strategic Opportunity for the Netherlands
This letter calls the Dutch official to prioritize the itself and the country in the digital finance space by establishing BTC reserves. This move can help the country fight and mitigate through future economic uncertainty and provide a solid base for country’s financial future.
Establishing BTC Reserve could position Netherlands along with other European countries, who are trying to incorporate digital currency into their financial system.
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