Salomon Brothers CEO: Bitcoin as strategic reserve asset in line with national interest

Chip Daniels, CEO of Salomon Brothers, an investment firm under Citigroup, wrote in an opinion piece published by CoinDesk that he does not completely agree with the Bitcoin strategic reserve that U.S. President Donald Trump is promoting, but it may be in line with U.S. interests. He emphasized that cryptocurrency critics claim that cryptocurrencies themselves have no intrinsic value, but that is like saying that Picasso's work is worth nothing more than the paint and canvas. Bitcoin has social value and scarcity value, and in particular, it aims to play a role outside of government control, Daniels claimed. The introduction of a Bitcoin strategic reserve would mean a leap forward in financial technology, Daniels stated, adding that it will not only revitalize the fintech sector but is also future-oriented.