Bitcoin (BTC) Enthusiasts and Maximalists Are Advocating for Adopting the Bitcoin Standard, but This Is Unlikely to Happen-Here's Why

Ki Young Ju, founder and CEO of the CryptoQuant on-chain analytics company, has taken to social media to share his take on the prospects of the U.S.

Ki Young Ju, the founder and CEO of on-chain analytics company CryptoQuant, has shared his thoughts on the possibility of the U.S. adopting the Bitcoin Standard in the near future.

Ju took to social media to express his skepticism about this scenario, explaining why he doesn't foresee it happening.

Ki Young Ju on U.S. adopting Bitcoin Standard

In a lengthy post, Ju shared his thoughts on why he has strong doubts about the U.S. adopting the Bitcoin Standard in the near future. He recalled the late 1990s, when gold bugs like Peter Schiff began advocating for the U.S. dollar to return to the gold standard.

However, Ju noted that this occurred during an economic crisis. In general, Ju stated that throughout U.S. history, gold has experienced periods of significant appreciation when the United States “perceived a threat to its dominance in the global economy,” and discussions about the gold standard would gain momentum.

Throughout history, whenever the United States perceived a threat to its dominance in the global economy, gold prices surged, and debates around the gold standard gained traction.

In the late 1990s, Peter Schiff championed gold as the true form of money, much like today’s Bitcoin maximalists are doing with BTC. Interestingly, both times, the U.S. government remained largely uninterested in the conversations.

A similar conversation is now taking place not about gold but about Bitcoin, as BTC enthusiasts and maximalists are advocating for the adoption of the Bitcoin Standard.

“Now, Bitcoin seems to be filling the ideological space once occupied by gold,” Ju stated.

Ju went on to say that he fully supports the U.S. adopting the Bitcoin Standard. However, he doubts that the U.S. would adopt Bitcoin as a strategic asset. For that to occur, the country would need to face a substantial threat to its global economic dominance.

The U.S. government may begin buying Bitcoin and stacking it for risk management or economic leverage, but it could be for entirely different reasons than Bitcoiners believe.