I came across this piece today written by Sam Lyman https://fortune.com/crypto/2024/12/06/the-case-for-a-strategic-bitcoin-reserve/ It's pay-walled, but I'll quote the important parts. In summary, it's basically a concise version of Jason Lowery thesis: Once the entire world gets fully enraptured
While it bears some similarities, there are many reasons why it's not the same type of asset. First of all, if you want to say serious things about Bitcoin, you have to understand how it works. You can't just observe that other people are buying it.
No, the United States should not invest in a "strategic Bitcoin reserve" Bitcoin was created 16 years as an innovative solution to a decades old problem of how to create a decentralized cryptocurrency, a "peer-to-peer electronic cash system" as the white paper described. The solution is
Bitcoin is cryptocurrency. This means that the underlying units, which are abstract, made-up units, are sent from one user to another via signed messages. These message cannot be forged unless you are the owner of the private key, which is essentially a very long password. The cryptography has been understood