{"id":15987,"date":"2024-08-09T19:12:35","date_gmt":"2024-08-09T16:12:35","guid":{"rendered":"https:\/\/forklog.com\/en\/charles-hoskinson-warns-of-bitcoins-centralization-risks-as-a-us-reserve-asset\/"},"modified":"2024-08-09T19:12:35","modified_gmt":"2024-08-09T16:12:35","slug":"charles-hoskinson-warns-of-bitcoins-centralization-risks-as-a-us-reserve-asset","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/charles-hoskinson-warns-of-bitcoins-centralization-risks-as-a-us-reserve-asset\/","title":{"rendered":"Charles Hoskinson Warns of Bitcoin’s Centralization Risks as a US Reserve Asset"},"content":{"rendered":"

The notion of transforming Bitcoin into a reserve asset for the United States poses significant centralization risks for the cryptocurrency, according to Cardano co-founder Charles Hoskinson, as reported by Cointelegraph<\/a>.<\/p>\n

The initiative to potentially use digital gold in such a capacity was proposed by US presidential candidate Robert F. Kennedy Jr., who suggested that the Treasury purchase 4 million BTC.<\/p>\n

Hoskinson noted that this would constitute 19% of the asset’s total supply.<\/p>\n

\n

\u201cIt’s a mixed picture. On one hand, it would be great for the price and regulation in the US, because the country would, in a certain sense, become ‘pro-Bitcoin’,\u201d he believes.<\/p>\n<\/blockquote>\n

However, the entrepreneur warned that owning such a significant share could lead to undesirable consequences.<\/p>\n

\n

\u201cIf something happens that the US disagrees with, they could use their geopolitical power to change it, as they have a strategic interest in the asset. So be careful welcoming these people with their power,\u201d Hoskinson said.<\/p>\n<\/blockquote>\n

He extrapolated the situation to commodities, noting that it is unlikely anyone \u201cwould like it if someone bought up 20% of the global oil supply or something like that.\u201d<\/p>\n

\n

\u201cSo it would be a cartel,\u201d concluded the Cardano co-founder.<\/p>\n<\/blockquote>\n

Earlier, Republican presidential candidate Donald Trump stated that the US should not sell government-owned Bitcoins. In his view, the country should also become a \u201cmining superpower.\u201d<\/p>\n

The politician suggested that the first cryptocurrency could become a key tool in addressing the issue of the growing US national debt, which has exceeded $35 trillion.<\/p>\n","protected":false},"excerpt":{"rendered":"

The notion of transforming Bitcoin into a reserve asset for the United States poses significant centralization risks for the cryptocurrency, according to Cardano co-founder Charles Hoskinson, as reported by Cointelegraph. The initiative to potentially use digital gold in such a capacity was proposed by US presidential candidate Robert F. Kennedy Jr., who suggested that the […]<\/p>\n","protected":false},"author":1,"featured_media":15986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,471,1138],"class_list":["post-15987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-charles-hoskinson","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=15987"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/15986"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=15987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=15987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=15987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}