{"id":3842,"date":"2024-12-06T15:01:44","date_gmt":"2024-12-06T15:01:44","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3842"},"modified":"2024-12-06T15:01:44","modified_gmt":"2024-12-06T15:01:44","slug":"bitcoin-reserve-would-benefit-special-interest-groups-former-fed-chairman-warns","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3842","title":{"rendered":"Bitcoin Reserve Would &#8216;Benefit Special Interest Groups,&#8217; Former Fed Chairman Warns"},"content":{"rendered":"<div>\n<p>Former chairman of the New York Federal Reserve <strong>Bill Dudley<\/strong> on Friday voiced strong concerns over the United States potentially including <strong>Bitcoin <\/strong>(CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>) in <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/11\/42220158\/donald-trump-to-establish-a-national-bitcoin-reserve-pros-vs-cons-compared\">its national reserves<\/a>, a proposal gaining momentum among crypto-friendly legislators.<\/p>\n<p>In an <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2024-12-06\/bitcoin-reserve-would-be-a-bad-deal-for-americans?embedded-checkout=true\">opinion<\/a> piece, Dudley argues that such a move could harm the interests of the general public and compromise the dollar\u2019s standing as the global reserve currency.<\/p>\n<p>He highlighted the potential downsides of establishing a <a href=\"https:\/\/www.benzinga.com\/24\/12\/42282144\/will-your-bitcoin-holdings-be-at-risk-if-trump-establishes-a-national-reserve-analyst-says-government-can-employ-carrot-and-stick-policy\">government Bitcoin reserve<\/a>, stating, \u201cIf the United States adopts Bitcoin as a reserve asset, it would likely benefit specific interest groups at the expense of the majority.\u201d<\/p>\n<p>He also warned that such a strategy would be more about inflating Bitcoin\u2019s value than delivering any tangible benefit to the government or citizens.<\/p>\n<p>Bitcoin, which &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/12\/42365154\/bitcoin-reserve-would-benefit-special-interest-groups-former-fed-chairman-warns\" alt=\"Bitcoin\" reserve would special interest groups former fed chairman warns>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Former chairman of the New York Federal Reserve Bill Dudley on Friday voiced strong concerns over the United States potentially including Bitcoin (CRYPTO: BTC) in its national reserves, a proposal gaining momentum among crypto-friendly legislators. In an opinion piece, Dudley argues that such a move could harm the interests of the general public and compromise [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3842","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3842"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3842\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}