While I am against the idea of a SBR, this piece by nostr:npub1uyz4w2w4rcphk0q5arzkutrecgscxwzajj4dkvh9mjyqjtxslm6qea8632 makes some interesting points especially where rehypothecation of Bitcoin in the SBR is concerned.

https://caitlin-long.com/how-to-keep-bitcoin-strategic-reserve-from-morphing-into-a-bailout-fund/