Billy Markus, the creator of Dogecoin, has proposed the idea of a “national Dogecoin reserve.” He suggested the idea after a post by Kalshi, a prediction market, mentioned that there is an increasing chance of President-elect Donald Trump establishing a strategic Bitcoin reserve. Trump has previously stated that, if elected, he would allow the U.S.
government to purchase Bitcoin as a reserve asset, alongside other assets like land, Treasuries, and gold. The U.S. government’s current reserves include Bitcoin, and with a market cap of $1.8 trillion, it is now the seventh-biggest asset in the world, having recently overtaken silver and Saudi Aramco.
Dogecoin, on the other hand, is the sixth-biggest cryptocurrency with a market cap of $55 billion. It was initially created as a joke based on a popular internet meme of a Shiba Inu dog. However, it gained popularity in 2020-2021 due to Elon Musk’s frequent discussions about its potential as a payment method.
Wall Street analysts have also suggested that Dogecoin could become available to traditional investors through an exchange-traded fund (ETF). While a Bitcoin reserve has not yet become a reality, the idea of a Dogecoin reserve is considered a humorous concept. However, with the increasing popularity of cryptocurrencies, it is possible that such ideas could become more serious in the future.
