Previous Champion of the UFC, Conor Macrgegro has been vocal about the need of a bitcoin strategic reserve in Ireland on X platform. This post was viewed over millions of times by his followers. He has even said that he is willing to host X spaces in order to encourage this idea and have open conversations. This shows his conviction about the subject
Strategic Reserve Concept
A strategic Bitcoin resereve means government will include Bitcoin holdings in their reserve alongside gold and foreign currencies. This highlights governments’s confidence and conviction of bitcoin. This positions Bitcoin as a hedge against inflation due to its Fixed supply and neutral nature, stating its global tradability and promising ascent in.
International Context
Ireland would join the upswing of countries that are contemplating such projects. El Salvador legally recognized Bitcoin in 2021. The Czech National Bank has started contemplating it as a reserve asset. Furthermore, the U.S. implemented a new legislation in the form of setting its first level strategic reserve for Bitcoin nation-wide.
Potential Impact
His participation in these discussions could change the way a Bitcoin strategic reserve can be implemented in Ireland. Considering his prestige in the world, and long-standing history of advocacy, his support of a Bitcoin strategic reserve may awaken public interest and encourage policymakers to consider this unique financial tool.
