The founder of Pantera Capital supports Trump's proposal to establish a Bitcoin strategic reserve

The founder and executive partner of hedge fund and venture capital firm Pantera Capital, Dan Morehead, recently discussed the evolving landscape of cryptocurrency adoption in the United States and potential changes for the next year on CNBC's "Fast Money" program.

In the interview, Morehead talked about President-elect Trump's proposal to establish a strategic Bitcoin reserve and expressed strong support for this move. He said: "I think this is actually a very important thing. When you are the world's reserve currency yourself, you don't need to store other currencies." Morehead elaborated on the current state of U.S reserves, pointing out: "The United States does not have any other currency. It has stored $600 billion worth of gold which is an astonishing amount. This equals 11 million years' wages for American workers so it’s kind of crazy." He advocated transitioning to digital assets saying: "Switching to digital gold. Bitcoin is much better so I think it makes complete sense." While emphasizing existing government holdings, Morehead mentioned: "The United States already owns 1% of global bitcoin. Maintain this ratio or increase it. So I believe that would indeed be a very good policy. Several countries already own Bitcoin; if America could lead that would be great."