UFC legend Conor McGregor has proposed that his homeland join the rest of the world in setting up a strategic crypto reserve. According to McGregor, the digital was created to give power to the people, and an Irish Bitcoin strategic reserve will give power to the people’s money.
This year saw increased interest in the concept of a Bitcoin or cryptocurrency strategic reserve following the announcement from the United States regarding the establishment of such a fund. The initiative was formalized through an executive order issued by President Donald Trump, which stated that the reserve would include not only Bitcoin but also other digital currencies like Ethereum, Cardano, and Ripple’s XRP.
Apart from the United States, nations such as El Salvador and Bhutan have also started incorporating Bitcoin into their reserve strategies. Although El Salvador, which was previously an advocate for this digital currency due to its leadership’s consistent purchases, has somewhat slowed down, they continue to accumulate more Bitcoin. Despite uncertainty about whether other countries will join them shortly, McGregor hopes that Ireland might follow suit upon recognizing public demand for adoption.
Conor McGregor urges establishment of a Bitcoin strategic reserve in Ireland
According to his
post
On X, McGregor, renowned for his career in the Ultimate Fighting Championship (UFC), announced plans to organize a Bitcoin event where he would delve into discussions surrounding it. Despite this initiative being seen positively, skepticism remains regarding cryptocurrencies, primarily due to their speculative character. During his conversation about potentially incorporating both Bitcoin and various other digital currencies, numerous commentators advised focusing efforts on the leading cryptocurrency by market capitalization instead.
Anthony Pompliano, a well-known personality in the cryptocurrency sector, commended the initiative, observing that the proposal for a strategic reserve is quite appealing.
Pompliano
Most supporters contend that Bitcoin’s limited supply, impartiality, and decentralized nature might position it as an optimal hedge against inflation. Some view it as a means to diversify national investment portfolios, with many nations currently leaning towards gold as a safe-haven asset. Additionally, they highlight its worldwide liquidity and its promising prospects for expansion in the evolving digital era.
Conor McGregor’s involvement in this debate could be a game-changer for the Irish debate. The influential figure has a track record of using his platform for causes that he believes in, using it to advocate for athlete rights in the past. His interest in the topic could also catch the eyes of more advocates, putting pressure on the government to consider the move that many like him believe could be beneficial to the country in the long run.
This is not McGregor’s first brush with cryptocurrencies, with the UFC star
launching
He sold his ‘REAL’ meme coin through a sealed-bid auction last month. The token was introduced this way according to a report, aiming to stop snipers and automated systems from dominating the release. When launching the token, he stood behind it, telling his supporters it wasn’t your typical celeb-supported meme coin. “I altered the FIGHT scene. I transformed the WHISKEY industry. I revamped the STOUT market. It’s now time to shake up the CRYPTO world. This is merely the start,” he shared on X when revealing the launch.
Based on the token’s whitepaper, investors making significant contributions and actively participating in staking activities can achieve elevated statuses and receive increased profit-sharing benefits. Furthermore, the document states that this token aims to revolutionize the betting sector by closely mirroring authentic life scenarios and appealing to everyday people. This strategy suggests that McGregor along with his group plans to allocate resources toward establishing ventures connected to athletics and entertainment.
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