Bitcoin Is A Strategic Asset, Not XRP

new an offer It was presented to the newly established US Securities and Stock Exchange Committee The encryption workplace By Maximilian Staudinger puts the XRP case as a “strategic financial origin” for the United States (using some doubtful mathematics and logic).

Here I tell you that XRP is not one of the strategic assets and that the logic of this proposal is at best.

In the suggestion, Staudinger states that $ 5 trillion is imprisoned in us Nostro accounts (Accounts that banks use for cross -border payments). It claims that if some regulatory conditions – including the SEC classification of XRP as a payment network, the US Department of Justice (DOJ) that provides a legal permit for banks to use XRP, and the Federal Reserve that XRP banks use as liquidity solution – then 30 % of the capital (1.5 trillion dollars) for the US government to buy 25 million bitcoin.

Therefore, let’s disintegrate why this is meaningless.

First, Nostro accounts are simply bank accounts carried by American banks in foreign countries. I am not sure of the type of logic that includes these local banks that hand over the US dollars that XRP will replace in theory to the federal government so that these dollars can then use Bitcoin currency on behalf of the government.

Second, the proposal does not provide details about how to get these local banks on the XRP that replaces the dollar. It seems only logical that they have to buy XRP, which leads to the absorption of XRP this $ 1.5 trillion, not Bitcoin. Even if Ripple, XRP source, simply give these XRP banks to use, this still does not work $ 100 billion in XRP – Less than 1.5 trillion dollars.

Third, even if the Bitcoin price decreases to $ 60,000, the price will start to increase immediately as the United States government began to buy 25 million Bitcoin.

Finally, there is a solid cover of 21 million bitcoin (and Nearly 4 millionIt is a known fact in the area of ​​bitcoin or encryption. Therefore, it is absurd to suggest that the United States government can buy 25 million bitcoin. If the author is a half -wrong person, he suggested that the government buys 15 million bitcoin at $ 100,000 per bitcoin (although mathematics is still not successful).

Given the extent to which logic is given this proposal, it is difficult to look at XRP, one of the strategic assets. In addition, why will the United States government do this when two -thirds of the offer is still in the hands of the organization that issued the original? meaningless.

Bitcoin, on the other hand, is one of the world’s assets that many use all over the world as money and a valuable store. In addition, Bitcoin is subject Tens of thousands of contract It can be almost not penetrated, thanks to nearly 0.4 % of the world’s energy That protects it. (XRP network is subject 828 contract It is not protected by any amount of energy.

Therefore, we hope that SEC will already understand what I have shown in this piece and do not spend much time even given the suggestion of Mr. Staudinger.

This article is taking. The opinions expressed are fully author and do not necessarily reflect the views of BTC Inc or Magazine Bitcoin.