In a space on cryptographic. Bailey, who is one of Trump’s closed Bitcoin advisors, boldly claimed that several central banks around the world are actively acquiring Bitcoin.
Central banks are buying Bitcoin
“David Bailey just claimed – without any evidence in the Dylan LeClair space with Matthew Pines – that central banks are buying Bitcoin,” said Joe Carlasare, partner at Amundsen Davis LLC. In a follow-up article on X, Bailey specifically highlighted lesser-known global players like Bhutan and Venezuela, as well as Iran, as early adopters of the central banking sector.
After being asked by Fred Krueger about countries other than El Salvador, he revealed: “Iran, Bhutan, Venezuela, super impressive person. The big government buyers are sovereign wealth funds.” He predicted that larger and more influential central banks would soon follow suit in acquiring BTC. “I think you’re going to soon see major central banks start to take a stand.”
Mike Alfred, former technology CEO and founder of a value investment fund, corroborated Bailey, citing his direct communications with representatives of Bhutan, Burkina Faso and French Guiana. Alfred shared: “They are. Bhutan confirmed this to me on Tuesday. I have a call with Burkina Faso and French Guiana on Monday. It happens, buddy.
Commenting specifically on Bhutan, Bailey said “the situation in Bhutan is pretty wild” and shared an article from the Observer Research Foundation. Bhutan is knowingly actively involved in Bitcoin mining. The country’s sovereign investment arm, Druk Holding & Investments (DHI), in collaboration with Nasdaq-listed Bitdeer Technologies Group, is significantly expanding its Bitcoin mining operations since the last update.
This strategic initiative aims to increase Bhutan’s mining capacity to 600 megawatts by the first half of 2025, from 100 megawatts currently. The expansion is part of a $500 million fund created to support these activities and is driven by the need to diversify Bhutan’s economy, which relies heavily on hydropower.
Bailey also referenced a report from the Iranian Students News Agency dated October 2020, which detailed Iran’s regulatory strategy regarding Bitcoin. The report describes how the Iranian government had established regulations to direct Bitcoins mined in the country into state coffers. The maneuver is part of a broader plan to use these assets to finance imports, presenting a new way to circumvent economic sanctions and stabilize domestic economic needs.
Will Trump HODL Bitcoin?
Bailey’s discussion also ventured into the theoretical impacts of US adoption of Bitcoin at the government level. He fleet a scenario in which former President Donald Trump could secure a substantial reserve of BTC for the US Treasury, using a lock-in mechanism to protect these assets for future generations.
According to Bailey, this could provide protection against instabilities in the traditional financial system and potentially elevate Bitcoin to reserve status. “At the bare minimum, Trump should take the 210,000 Bitcoins already held by the United States and lock them up for 100 years. No future administrator will be able to reverse a decision once time is locked.
The backstory could be one for Hollywood. “Think about the origin story. These pieces would come from Silk Road. Ross Ulbricht hands over 1% of Bitcoin supply to America. Trump locks it up for future generations and pardons Ross (Ulbricht). The Silk Road saves America. I couldn’t have made this plot up,” Bailey said and revealed that Trump is “aware” of the possibility of completely changing the world order.
At press time, BTC was trading at $66,211.
Featured image created with DALLE, chart from TradingView.com
