CryptoQuant CEO: Bitcoin appears to be filling the ideological space once occupied by gold

PANews reported on December 28 that Ki Young Ju, founder and CEO of CryptoQuant, posted on the X platform: “Throughout history, whenever the United States feels that its dominant position in the global economy is threatened, the price of gold will soar. The debate surrounding the gold standard would come to the fore in the late 1990s, when Peter Schiff Advocating for gold as the true form of money, much like today's Bitcoin maximalists advocate for Bitcoin, these proponents, known as "gold bugs," want a return to the gold standard. However, despite the resurgence of interest during the economic crisis. But the United States has always avoided this shift, relying instead on creative solutions to sustain growth. The gold standard has been a relic of the past, and now Bitcoin seems to be filling the ideological space once occupied by gold. The idea behind the Bitcoin standard.

However, I doubt the United States will continue to grow and adopt Bitcoin as a strategic asset while the rest of the economy stagnates. For this debate to make significant progress, the United States needs to see a real threat to its global economic dominance. Currently, market sentiment indicates confidence in the United States' continued dominance. While it is conceivable that the U.S. government might purchase Bitcoin for risk management or economic leverage, the motivations may be much different than what Bitcoin holders imagine. The idea of ​​buying Bitcoin in preparation for the Bitcoin standard or as a tool to defend the dollar system seems far removed from current reality. As global capital flows into the United States, many still believe the dollar's dominance is secure. Even before taking office, Trump repeatedly warned other world leaders about the power gap between the United States and other countries. Such rhetoric, coupled with increased capital inflows into the U.S. dollar, could revive confidence in U.S. dollar hegemony. Around me, many Koreans are choosing the U.S. dollar as a safe haven over gold or Bitcoin, especially if the Korean won depreciates.

If Trump succeeds in demonstrating the resilience of the U.S. economy, cementing the hegemony of the dollar, and boosting his approval ratings, it’s unclear whether he will continue the strong pro-Bitcoin stance he displayed during the campaign. He could easily abandon his advocacy for Bitcoin, citing changes in priorities, without alienating his voter base. There is no denying that Trump is a skilled politician capable of strengthening America's position. However, the extent to which he intends to implement his campaign rhetoric about Bitcoin remains uncertain. At the Bitcoin conference, Trump mentioned Bitcoin as a strategic asset. Is this a real step on his part to prepare for Bitcoin standards, or is it just a carefully planned move to gain votes? "