Jack Mallers, CEO of payment platform Strike, has made a powerful case for the United States to embrace Bitcoin BTC/USD as a strategic reserve asset.
What Happened: In an interview with CNBC on Thursday, Mallers compared the potential adoption of Bitcoin by the U.S. government to pivotal moments in economic history, including Nixon's departure from the gold standard in 1971.
A Vision For Bitcoin As A National Asset
Mallers argued that Bitcoin's decentralized and transparent nature aligns perfectly with American values such as equal rights and open opportunity.
He described Bitcoin as “an asset that was accessible to the people 15 years ago, that the people own. Governments only own 2, 3, 4% of this asset.”
According to Mallers, embracing Bitcoin is a way for the U.S. to remain competitive and innovative.
"It acts in the best interest of the public. It's pro jobs, it's pro energy, it's pro industry, it's pro growth," he said.
Highlighting the national debt crisis, Mallers rhetorically asked, “Does anyone else have a plan to get us out of debt? Are we going to start a lemonade stand out here in Times Square? No. How about the best-performing asset in the history of mankind?”
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Missed Opportunities And Future Growth
Mallers dismissed the notion that people are “too late” to invest in Bitcoin, calling it a distraction rooted in comparison to early adopters.
"People think they're late to Bitcoin. I don't understand that. Late according to who? Over the last 15 years, the best thing you could have done is buy Bitcoin," he said.
Mallers went on to assert that this would hold true for the “next 1,500 years.”
With the U.S. national debt ballooning and global competitors embracing Bitcoin, Mallers emphasized the urgency of acting now.
"As a country, I think we have a choice. I think the worst thing we can do is not own enough," he warned.
He urged the U.S. to support its homegrown crypto businesses, saying, "Coinbase COIN is an American company, Strike is an American company, Kraken is an American company. Let's support these businesses, let's support this industry."
Pro-Growth And Pro-Innovation
Mallers aligned Bitcoin adoption with the values of the incoming U.S. administration, which he sees as an opportunity to drive growth and innovation.
"As this new administration takes office, we have to make a decision. To de-risk this, we should buy some Bitcoin and push American ideals in technology and innovation through the best-performing asset and technology in mankind," he said.
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