{"id":45612,"date":"2025-09-04T00:46:34","date_gmt":"2025-09-04T00:46:34","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=45612"},"modified":"2025-09-04T00:46:34","modified_gmt":"2025-09-04T00:46:34","slug":"no-us-bitcoin-reserve-without-japan-bitwise-exec-argues","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=45612","title":{"rendered":"No US Bitcoin Reserve Without Japan, Bitwise Exec Argues"},"content":{"rendered":"
\n

In a CoinStories interview with Nathalie Brunell, Jeff Park, Head of Alpha Strategies at Bitwise Asset Management, argued that US sovereign Bitcoin holdings are a matter of \u201cwhen,\u201d not \u201cif\u201d\u2014but only via a deliberate, legislated process and likely in concert with key allies.<\/p>\n

Park stated<\/a> plainly: \u201cIt will be inevitable that governments will buy Bitcoin on their balance sheet. This is something I feel very strongly,\u201d adding that advocates should \u201cbe patient\u201d because it is \u201cnot likely a rogue decision.\u201d<\/p>\n

He drew a firm distinction between an executive action and a durable national policy: \u201cThere\u2019s a difference between an executive order mandate to buy Bitcoin as a strategic asset versus a congressional mandate,\u201d he said. Executive orders are \u201cvolatile\u201d and \u201ccan be turned by the next administration,\u201d whereas a legislated strategic reserve \u201cembed[s] the mandate of the people.\u201d<\/p>\n

Why The US Bitcoin Reserve May Hinge On Japan<\/h2>\n

Crucially, Park framed the US Bitcoin reserve as an allied, not unilateral, project. The United States, he said, operates within an economic \u201csocial contract\u201d with partners such as Japan. A surprise US pivot into BTC would risk trust: \u201cIt would be a slight betrayal of that social contract if you were to stuff, let\u2019s say, Japan with all your long-dated Treasury bonds and then didn\u2019t give them a heads up and just bought Bitcoin on your own.\u201d<\/p>\n

As a practical indicator, he flagged Tokyo: \u201cI think Japan is the one<\/a> you should be paying attention to\u2026 Once you start seeing Japan embrace Bitcoin then I do think we\u2019re ready for that dialogue to happen at the country levels.\u201d
\nPark also cautioned that sovereign BTC seen today mostly reflects legal seizures rather than market accumulation.<\/p>\n

\u201cMost of the core treasury holdings of sovereigns have so far come from seizures<\/a> or forfeitures,\u201d he said, citing the US and China. He dismissed coercive domestic takings as inconsistent with US norms: using eminent domain against a compliant private entity would cross a line \u201cthe US generally is not on that side of history for.\u201d<\/p>\n

Open-market accumulation at scale, meanwhile, would be price-disruptive. Instead, he pointed to a more American pathway through market structures and public-private alignment: \u201cIf you think about the construct of Fannie Mae and Freddie Mac\u2026 you could still have a private entity that is able to extend credit for the American people,\u201d suggesting that \u201cBitcoin treasury companies can be\u2026 private, yes, but aligned with kind of the national mission.\u201d<\/p>\n

Park\u2019s monetary rationale threads these points together. Post-2008 policy has elevated \u201cabundant reserves\u201d and technocratic rate-setting, making scarce collateral strategically valuable. Within that context, he said, \u201cBitcoin is the scarcest, hardest asset known<\/a> to man and it is the social covenant that I think will supersede the dollar as we\u2019ve known it in a way that hopefully in the future will be synergistic for both American exceptionalism.\u201d<\/p>\n

Park\u2019s conclusion is exacting rather than speculative: governments buying Bitcoin is \u201cinevitable,\u201d but a US move requires congressional authorization, signaling and coordination with allies\u2014particularly Japan\u2014and institutional mechanisms capable of execution at size without violating core property-rights norms.<\/p>\n

At press time, BTC traded at $111,103.<\/p>\n

\"Bitcoin<\/div>\n","protected":false},"excerpt":{"rendered":"

In a CoinStories interview with Nathalie Brunell, Jeff Park, Head of Alpha Strategies at Bitwise Asset Management, argued that US sovereign Bitcoin holdings are a matter of \u201cwhen,\u201d not \u201cif\u201d\u2014but only via a deliberate, legislated process and likely in concert with key allies. Park stated plainly: \u201cIt will be inevitable that governments will buy Bitcoin […]<\/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-45612","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\/45612","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=45612"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/45612\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}