Grant Cardone: U.S. Strategic Bitcoin Reserve Impact

While running for office, now-President Trump has discussed creating a Strategic Bitcoin Reserve. The goal behind that is to own a digital asset. Remember, bitcoin has a hard-wired total amount that will ever exist at 21 million.

Today, over 19 million bitcoin have been mined. It’s a harder asset than gold, which is already a reserve asset for nation states. And given bitcoin’s potential price upside, buying bitcoin could go far to help pay down a nation’s debt.

Most nations today hold either gold or foreign currencies as a reserve. But foreign currencies can be printed at will by a nation’s central bank. Bitcoin, on the other hand, is “mined” in equal amounts every 10 minutes.

And every four years, the total amount of bitcoin produced through mining is cut in half. That’s allowed for bitcoin’s price to soar higher over time. And why estimates for bitcoin topping $1 million each someday aren’t as far-fetched as it sounds.

Gold has and continues to perform well. But moving around gold is a costly effort, requiring tools such as armed guards and armored cars.

Creating a strategic bitcoin reserve, as President Trump did on Thursday night, could go a long way towards strengthening the national balance sheet by adding a high-returning asset. And those who buy bitcoin before nation-state adoption will likely get in ahead of any big move higher from massive government buys.

To see the full potential impact of a Strategic Bitcoin Reserve, click here.