US President Donald Trump has declared about the nation's Bitcoin Reserve. He signed an executive order to implement the BTC reserve in March, but disagreements over the reserve continue.
Some industry figures oppose the idea of BTC reserves, while others support it. The most recent statement on the issue comes from Morgan Stanley.
US financial giant Morgan Stanley said Bitcoin has enough market value to be considered a national reserve asset for the US government.
In this regard, Morgan Stanley in a recent report claimed that Bitcoin's $1.87 trillion market capitalization is so important that it could be considered a US reserve asset.
Giants Bank accepts BTC as a reserve asset, but its volatility remains a risk, he said.
Banks suggest that 12-17% of the total Bitcoin supply in the US is consistent with traditional reserve standards.
The idea of Bitcoin Reserve has gained support in general, but American billionaire investor Kevin O'Leary has insisted that the backup idea will never come true.
O'Leary also criticized Bitcoin Bull Michael Saylor, one of the biggest supporters of the Bitcoin reserve bill, claiming that his company's Bitcoin accumulation strategy is motivated by self-interest. O'Leary claimed that Saylor's company raised capital through stock and debt sales to fund Bitcoin purchases, lacking long-term sustainability.
In contrast, prominent figures like Anthony Scaramucci argue that Bitcoin Reserve measures will put the US at the forefront of digital asset integration and help address US national debt.
*This is not investment advice.
