Ki Young Ju on Bitcoin’s Rise, Will It Follow Gold’s Footsteps or Rewrite History?

• Bitcoin mirrors gold’s ideological role but lacks traction as a U.S. strategic asset without a true threat to economic dominance.
• The U.S. dollar remains a safe haven as global confidence grows, overshadowing Bitcoin’s potential as a strategic asset.
• Trump’s Bitcoin advocacy may fade as policies prioritize strengthening the dollar, highlighting its continued global supremacy.

CEO of Cryptoquant Ki Young Ju compared today’s Bitcoin advocates and the “gold bugs” of the 1990s. He noted that gold often surged during periods when the U.S. felt its global dominance threatened. However, the U.S. consistently avoided reverting to a gold standard, relying instead on innovative growth strategies. Similarly, while Bitcoin is being positioned as a potential alternative, hurdles remain.

The U.S. Dollar’s Resilience and Bitcoin’s Role

Global confidence in the U.S. dollar remains strong despite Bitcoin’s rising. With increasing capital inflows, the dollar continues to dominate. Besides, many investors view the dollar as a safer haven than Bitcoin or gold. In South Korea, for example, citizens are prioritizing the dollar over other assets amid the won’s weakening value. 

Moreover, former U.S. President Donald Trump’s evolving stance on Bitcoin adds complexity to the debate. During his campaign, Trump hinted at Bitcoin’s potential as a strategic asset. However, his focus on reinforcing U.S. economic resilience could overshadow any immediate Bitcoin advocacy. If Trump’s policies successfully strengthen the dollar, his Bitcoin rhetoric might wane without alienating his voter base.

Economic Threats: A Catalyst for Change?

For Bitcoin to gain serious traction as a U.S. strategic asset, economic conditions must shift drastically. According to Ki Young Ju, the U.S. would need to perceive a genuine threat to its economic supremacy. Additionally, any potential government adoption of Bitcoin would likely aim to enhance economic leverage rather than prepare for a Bitcoin Standard.

However, this remains a distant possibility. Bitcoin’s ideological role appears to mirror gold’s historical position rather than challenge the dollar’s dominance directly. Besides, with the U.S. economy showing resilience, many believe the dollar’s supremacy is secure for the foreseeable future.