TechFlow, on September 28, according to Cointelegraph, Haider Rafique, Global Managing Partner of Government and Investor Relations at OKX, stated that establishing a national Bitcoin strategic reserve could have negative impacts on both the BTC and USD markets.
Rafique pointed out that any government holding a large supply of BTC might manipulate prices by selling holdings into the market, thereby undermining Bitcoin's core value proposition as a neutral, decentralized currency. He warned, "What if a new government years later decides this was a bad idea?" and emphasized that administrative policies can shift rapidly, creating liquidation risks from concentrated BTC holdings on national balance sheets.
Rafique cited the German government's 2024 sale of 50,000 BTC as an example, noting that the move kept prices suppressed below $60,000. He argued that creating a Bitcoin strategic reserve would signal weakness in the US dollar, potentially triggering investor loss of confidence in the dollar and prompting shifts toward safe-haven assets such as gold or the Swiss franc.
