The biggest obstacle for the Strategic Bitcoin Reserve is not the Fed, Treasury, banks, or Elizabeth Warren.
It’s Ripple/XRP. They are aggressively lobbying against the SBR by throwing around $millions at politicians, desperately trying to derail it.
They did the same to attack bitcoin mining under the Biden administration. Obviously they want to protect their marketing narratives and push for CBDCs built on their platform.
Yes, but I think there are even bigger obstacles.
- Overall lack of education about Bitcoin and the conflation with crypto shitcoins by the media and most of Congress.
- Inherent conflict of interest for the US government and their incentive to keep the world on a $USD standard
- Distracting culture wars and other political issues that take up all of the oxygen in the room
This is the biggest risk of the SBR. It won't work if the next administration can change the law and sell it in 2029.
