TechFlow news — On December 11, according to Bitcoinist, Alabama State Auditor Andrew Sorrell recently publicly proposed establishing a Strategic Bitcoin Reserve (SBR). The proposal comes amid growing interest from federal and state policymakers in SBRs, as well as a significant rise in Bitcoin's price following Donald Trump's presidential election victory.
In media interviews, Sorrell emphasized his belief in the inevitable long-term success of Bitcoin and cryptocurrencies: "The debate over whether cryptocurrency will succeed is over. As of now, cryptocurrency is a $3 trillion asset class, yet governments have invested zero in it. It is also the fastest-growing asset class with the greatest potential for price appreciation."
He added that the establishment of an SBR serves three primary objectives: portfolio diversification, positioning the state as crypto-friendly, and hedging against monetary risks.
