OKX executive: The government's establishment of a strategic Bitcoin reserve may have a negative impact on Bitcoin and the US dollar

Haider Rafique, global managing partner of government and investor relations at crypto exchange OKX, stated that a government's establishment of a strategic Bitcoin reserve could negatively impact both Bitcoin and the US dollar. He believes that large government holdings of Bitcoin could manipulate prices through market sell-offs, undermining Bitcoin's core attributes of decentralization and neutrality. He cited the example of the German government's sale of 50,000 Bitcoins in 2024, which caused the price to remain below $60,000. He pointed out that government policies are volatile, and that a new administration could overturn previous decisions, creating the risk of liquidation.