VanEck's Gabor Gurbacs Advocates for a Bitcoin Reserve Plan for the U.S.

VanEck’s Gabor Gurbacs Advocates for a Bitcoin Reserve Plan for the U.S.

VanEck advisor Gabor Gurbacs has expressed his backing for Bitcoin as a reserve asset plan.

The investment strategist explained, in a post on X, that the United States Dollar has no better alternative, adding that “countries with depreciating fiat currencies” should consider venturing into Bitcoin as a reserve currency rather than legal tender.

He further stated that he had been advocating for central banks and countries to include Bitcoin in their balance sheets, as this would strengthen and diversify their fiat contingent reserves.

Gurbacs noted that, at a time like this, it is

“irresponsible for countries not to hold Bitcoin in their portfolios,”

suggesting that they can start with 0.5%, and build up to 5% of their balance sheets.

Notably, Gurbacs’ comment after a pseudonymous crypto influencer “Zerohedge” asked former US President Donald Trump, in a social media post on May 26, whether he plans to announce the purchase of 2 million BTC and 10 million ETH to establish a strategic US crypto reserve if he is reelected as President.

This development comes amid Trump’s massive support from the crypto sector for his pro-crypto stance as he vies for the presidency.

The Republican presidential candidate, during a speech recently, outlined his plan for the crypto industry in the US, should he be re-elected. He pledged to stop President Joe Biden’s efforts to crack down on the crypto industry and position the United States as a prominent global crypto hub. He also criticized President Joe Biden’s purported misunderstanding of the industry and emphasized that he would protect the country’s 50 million digital asset holders.

In addition to his newfound stance on crypto, Trump, much earlier this month, Trump hinted at his plans to accept crypto donations for his presidential campaign this year. The presidential candidate made this declaration while promoting his “Mugshot Edition” NFTs, which are priced at $99 each.

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