The global Bitcoin (BTC) arms race between sovereign nations and governments has already started, recently stated asset manager and investor Anthony Pompliano.

The pro-Bitcoin asset manager explained that the race to adopt Bitcoin is primarily driven by currency devaluation and noted that US residents lost approximately

Asset manager and investor Anthony Pompliano recently stated that the global Bitcoin ( BTC ) arms race between sovereign nations and governments has already begun.

In an appearance on Yahoo Finance, Pompliano argued that market participants believe President-elect Trump will keep his campaign promises and establish a Bitcoin strategic reserve, and that doing so would be in the best interest of the United States to prevent being "front-run by other countries."

“I think the Trump administration will keep their campaign promises and establish a Bitcoin strategic reserve, which will be a good thing for the country,” said Pompliano.

The pro-Bitcoin asset manager explained that the race to adopt Bitcoin is primarily driven by currency devaluation and noted that US residents lost approximately 25% of their purchasing power over the last five years.

“People are waking up to the fact that the Federal Reserve is destroying the value of the dollar, and Bitcoin is the only way out of this,” he said.

Wojak-inspired memecoin takes to billboards in global campaign

A Wojak-inspired memecoin filling the trust gap in crypto with community engagement launches global campaign that will take it to billboards.

NPCS, a memecoin built around the Wojak character, aims to redefine memecoin culture by focusing on utility and strong community.

Memecoins have recently gained immense popularity, even surpassing Bitcoin (BTC) in search interest. Driven by humor, internet culture and the thrill of rapid gains, memecoins hold a collective market cap of $126 billion at the time of writing.

However, the surge in memecoin popularity comes with challenges, specifically on trust. The market is dominated by projects valued below $1,000, and only a tiny fraction crosses the $10 million mark. This leaves investors questioning the reliability of memecoin projects.

While brimming with potential, the memecoin space is often overshadowed by skepticism, as numerous projects faltered and failed to uphold trust. Thus, finding a reliable project with genuine commitment became essential for the ever-growing memecoin community.

Building community with trust Contrary to the widespread approach of prioritizing short-term gains over lasting growth, NPCS stands out with its focus on community involvement and transparency. Built around the well-known Wojak character, Solana-based NPCS taps into the humor and relatability that define the memecoin movement, offering a familiar yet distinct identity.

Amid the skepticism surrounding memecoins, NPCS prioritizes building trust by actively engaging with its community through various initiatives. For example, during a recent price correction, NPCS ran a $31,000 giveaway, where the project distributed $1,000 daily, demonstrating a commitment to its user base during challenging times.

Related: ‘The Case for Bitcoin as a Reserve Asset’ — Bitcoin Policy Institute

The race is on domestically and internationally During the interview, Pompliano noted that Bhutan and El Salvador are accumulating Bitcoin and have the advantage of being smaller players that lack the same downside risks as global powers like the United States.

However, despite the added risk of being a global economic hegemon, the downside risk to the United States investing in Bitcoin remains relatively low, according to Pompliano.

“Bhutan and El Salvador are accumulating Bitcoin, which gives them an edge over larger economies like the U.S.,” said Pompliano.

“But even for the U.S., the downside risk is minimal, and it behooves them to adopt Bitcoin as a strategic reserve asset to the same pattern of adopting Bitcoin as a strategic reserve asset is also playing out domestically.”

Jimmy Patronis, Florida's chief financial officer, is pushing for the state pension fund to allocate some of its portfolio to Bitcoin.

More recently, in November 2024, Pennsylvania lawmakers introduced a Bitcoin strategic reserve bill. If passed, the bill would allow the Pennsylvania State Treasury to maintain 10% of its assets in the supply-capped digital currency.

Magazine: TradFi fans ignored Lyn Alden’s BTC tip — Now she says it’ll hit 7 figures: X Hall of Flame

Explore more articles like this

Get critical insights to spot investment opportunities, mitigate risks, and refine your trading strategies. Delivered every Monday

By subscribing, you agree to our Terms of Services and Privacy Policy