Bitcoin’s price continued to fall, from $57,000 down to just under $54,000. It wasn’t without some positive developments.
Maria Corina Machado, the former deputy of the National Assembly of Venezuela, suggested using BTC in an interview today as a reserve asset for the country.
This year, politicians from several other countries have looked into a strategic Bitcoin reserve. The US government owns more than 200 000 Bitcoins, making it the world’s largest BTC holder.
If countries adopt Bitcoin as a reserve currency, it could be a catalyst for the entire crypto-industry, including Poodlana.
BTC as a reserve national: What does it mean for POODL
Maria Corino Machado called Bitcoin a “humanitarian tool” in the interview, referring to the fact that Venezuelans use it to protect their wealth amid the ongoing financial instability of the country.
She believes that the largest cryptocurrency in the world is uncorruptible and has the potential to build a “new Venezuelan Democracy”.
Bitcoin’s price could soar if countries switch to Bitcoin as their national reserve. Not only would this give a massive boost to demand, but it would also increase the legitimacy of BTC both as a store and global financial asset.
This strength will likely spread to other crypto projects, like Poodlana, which raised $8 million in its presale. This link will give you more information about its native POODL me coin.
Poodlana poised for continued gains
Donald Trump, the US presidential candidate, is also looking at Bitcoin as a reserve currency to help reduce the massive debt of his country.
This policy shift could be significant for Bitcoin, as it would reduce volatility and encourage countries to invest aggressively in BTC node infrastructure and related technologies.
A strategic Bitcoin reserve is likely to increase the credibility of crypto industry in general, which could be a significant benefit for companies like Poodlana who have already made waves since 2024.
POODL was recently listed on three of the top exchanges, Raydium, BingX and MEXC, to continue to attract global interest that helps crypto coins command a higher value. Click here to learn how to invest in Poodlana meme coins to benefit from the expected rally.
August jobs data bodes for Poodlana
According to the Bureau of Labour Statistics, the US economy created 142,000 new jobs in August. The number was up from 89,000 in August but was below the 160,000 economists predicted.
The employment data strengthens the case that the Federal Reserve will announce its first rate reduction at its next meeting in September.
Lower interest rates are likely to drive investors away from bonds and savings accounts. A good chunk of this capital could find its way into POODL, especially because it is a Solana meme coin.
Solana-based coin have performed exceptionally well in 2024, and are therefore still in high demand. Visit the website of Poodlana if you are interested in building up a position.
This post Venezuelan politician proposes Bitcoin as reserve currency: good news for Poodlana first appeared on The ICD
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