Should the U.S. build a national strategic bitcoin reserve?

In this episode, we sit down with George Selgin, Director Emeritus at the Cato Institute’s Center for Monetary and Financial Alternatives, to explore his views on money, markets, and bitcoin’s role in the global economy. George shares his journey from studying marine biology to becoming a leading voice in monetary economics and discusses how definitions of money have evolved. We examine bitcoin’s classification as a synthetic commodity, its potential as a store of value, and whether it could ever replace the US dollar. George also analyzes the proposed bitcoin strategic reserve, highlighting its costs, risks, and implications for government debt.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email [email protected]→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Buy bitcoin in an IRA—sign up today and get your first year free: unchained.com/frontierTIMESTAMPS:00:00:00 - Intro00:01:11 - Introducing George Selgin's background and career00:07:42 - Moving from Hong Kong to the University of Georgia00:09:50 - Defining money and its role in economics00:12:12 - Explaining why bitcoin doesn’t meet the definition of money00:13:31 - Defining the dollar and its place in the economy00:15:52 - Understanding gold’s history and modern role00:19:11 - Analyzing bitcoin as a synthetic commodity00:21:51 - Evaluating bitcoin as a store of value vs. medium of exchange00:24:52 - Discussing bitcoin’s long-term price potential00:29:21 - Examining markets, prices, and bitcoin’s future00:36:13 - Questioning if the US dollar could be replaced00:42:36 - Evaluating the bitcoin strategic reserve proposal00:49:11 - Breaking down the costs and risks of a bitcoin reserve00:55:00 - Closing thoughts and where to follow George SelginWHERE TO FOLLOW US:→ Unchained Twitter: https://twitter.com/unchainedcom→ Unchained LinkedIn: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ George Selgin’s Twitter: https://x.com/GeorgeSelgin