Recently, there were intense discussions about Bitcoin, memecoins and the future of the cryptocurrency industry at the World Economic Forum 2025 in Davos, Switzerland, with US President Donald Trump returning to the Oval Office.
Will the Bitcoin reserve come true?
In the only cryptocurrency session at this year’s forum, industry executives shared an optimistic view of the sector in the United States, even with excitement over the launch of the official Trump (TRUMP) token. . Notably, during the session, Coinbase CEO Brian Armstrong noted that the rise of the TRUMP memecoin would not hinder efforts to create a Bitcoin strategic reserve, an idea supported by Trump in 2024.
He said: “I don’t think this has compromised anything with Bitcoin’s strategic reserve. This effort is still very much alive. Cynthia Lummis, in the Senate, really defends this idea.
The idea of ​​creating a Bitcoin reserve was promoted by figures like Lummis, Trump and MicroStrategy’s Michael Saylor at the Bitcoin 2024 conference in Nashville. During the WEF session, Armstrong provided more details of the proposal to delegates.
“A lot of governments hold gold, but I think they should hold Bitcoin because it’s essentially the new gold standard. I think a fundamental principle is that you have to hold assets that retain their value over time,” he stressed.
South Africa unlikely to follow
However, Lesetja Kganyago, governor of the South African Reserve Bank, doubted that South Africa would follow the United States in storing Bitcoin. He questioned the value of Bitcoin as a reserve, highlighting the country’s focus on CBDCs and blockchain. However, Armstrong responded by highlighting the fundamental principles advocated by Bitcoin supporters, authors, and defenders in recent years.
He pointed out that it is proven to be rare, just like gold, but is more portable and divisible. He also highlighted its superior utility and called it the best performing asset of the last 10 years.
Scaramucci criticizes Democrats’ unclear position
Armstrong highlighted the advantages of Bitcoin over traditional reserve assets and suggested that central banks could acquire more BTC than gold over time. Furthermore, Anthony Scaramucci criticized the Democratic Party for not having a clear stance on crypto, as Trump did not mention cryptocurrency in his inaugural function.
Nonetheless, Armstrong emphasized that the “Trump effect” cannot be denied and that the new presidency has given the cryptocurrency industry new optimism and space to breathe and grow in the United States.