Chamath questions the feasibility of Bitcoin as a central bank reserve asset.

CoinFeed reported on March 5th that venture capitalist Chamath Palihapitiya stated at the World Government Summit that Bitcoin has structural flaws in terms of privacy and fungibility, making it difficult to become a long-term reserve asset for central banks. He pointed out that on-chain transaction traceability means that individual BTC may be treated differently due to association with illegal activities, weakening fungibility; therefore, gold is more in line with the needs of sovereign institutions. Chamath believes that if Bitcoin's market capitalization were to increase tenfold again, relying primarily on central bank demand, it would face obstacles, and other crypto assets may have room for improvement. He is optimistic about stablecoins, especially gold-backed stablecoins, for their potential applications in payments and settlements.