Equal Bitcoin + equal value in dollars iirc.
Discussion
This. If a bank wanted to hold $1M in BTC, they’d also have to hold $1M in USD. Because volatility, risky, etc etc.
Is that true? Wouldn’t holding the bitcoin itself satisfactory?
Probably depends on how it is insured. If it is FDIC then no. I agree, there really shouldn't be an issue. But in a world where dollars are expected it is still difficult.
Dollar banking is still by far the dominant form. That won't change quickly.
That *was* the rule. Now they don’t *also* need to hold that $1M USD.